Tax Investigation Fee Protection Policy

It is an insurance backed service which protects you from accountancy fees associated in dealing with any HMRC enquiry or dispute.

There is no definitive answer as to why, but there are a lot of possibilities; filing a late return, errors that require correction, dealing with cash, HMRC receive a tip off, working in a targeted business sector, to name a few.

The revenue’s ‘snooper computer’ collates data from banks, Land Registry records, Visa and MasterCard transactions, DVLA, council tax, VAT registration documents, Airbnb, and believe it or not even your social media profiles.

A common misconception is that a mistake has been made but that is rarely the case. Random enquiries can and do happen.

The cost of an enquiry will depend on the nature of the enquiry and the level of staff and time required to deal with the work. We would typically expect fees starting at £1,500+VAT to deal with a relatively simple enquiry but for more complex cases the fees could be upwards of £10,000+VAT.

Caldwell Penn is now insured with Croner-i Taxwise-protect in respect of fees up to £100,000 incurred representing you in the event of any compliance check, visit or investigation started by HMRC regarding compliance with:

• Corporation Tax Self-Assessment
• Income Tax Self-Assessment
• PAYE and P11D
• Capital Gains Tax
• National Insurance
• Construction Industry Scheme
• IR35
• Inheritance Tax
• VAT
• National Minimum Wage
• Gift Aid Legislation and Regulations
• Stamp Duty (including Land Tax)

The policy does not include any invesitgations relating to:

• Fraud
• Deliberate Omissions
• Criminal Prosecutions
• Tax, fines, penalties & interest due
• Tax Avoidance Schemes
• Enquiries commencing outside of the Period of Service
• Any tax matters for which Caldwell Penn does not act as your appointed tax agent

Yes, if Caldwell Penn are the appointed personal tax agent for shareholders, directors and partners, the business fee protection insurance policy will also cover these individuals.