Am I really at risk of investigation?
Any business or individual who submits a tax return can be investigated by HMRC. A number of factors can increase the risk of selection but HMRC do choose many cases completely at random.
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But I haven't done anything wrong?
Unfortunately this is not enough to protect you against being selected for enquiry. In over half the cases selected for enquiry the accountancy fees paid exceed the extra tax collected by HMRC.
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What am I covered for?
The different policies (link here) will show what events you can be covered against. Whichever you choose we will pay for an expert to defend you. In many cases this can be your own accountant.
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What if I have cover under a trade association?
The cover under these trade association policies is often very limited. For example, some will not cover aspect enquiries as standard. You may consider such cover is not going to be of much use.
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Why should I pay for a policy when I am looking to reduce my overheads?
This apparently logical conclusion is a false economy. In the event of a claim you may well see the comparatively small charge to be the best money you have ever spent. It could save thousands in accountancy fees and also reduce the amount of extra tax payable.
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What is not covered?
The policy will not cover any extra tax/interest/penalties that become due to HMRC. It will also not cover fees relating to pre existing enquiries. Take a look at the Policy Summaries for further details.
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How long do investigations usually last for?
Typically Full Enquiries can last around 12 - 14 months. However, some can last for several years and in extreme circumstances even longer.
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Who will represent me?
Due to a wide variation in the cost and quality of service, this is at our discretion. We have a number of highly experienced tax investigation experts available to help you all of whom were formerly HMRC officers. At our discretion you may be able to use your own accountant. We will discuss this with you in the event of a claim.
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How long does cover last for?
Policies are all 12 months in duration.
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Can I pay by direct debit?
Yes.
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Why Fee Protection?
Fee Protection have been in business supporting the business community for over 25 years. We are experts in helping clients deal with HMRC and take pride in doing so.
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