Tax Investigation Insurance
CCH Premier Protection is Tax Investigation Insurance for businesses
and individuals, safeguarding your interests during HMRC enquiries,
reviews, interventions and audits.
Why safeguard against HMRC investigations?
With HMRC investigations happening more and more frequently, tax investigations pose a risk and can be disruptive to your business. We offer tax investigation insurance as a value added service, to safeguard your interests during HMRC enquiries, reviews, interventions and audits ensuring that your liability for tax and penalties is minimised. Even if you are found to owe no tax at all, you will still have to pay professional fees incurred in handling your case. CCH Premier Protection is specifically created to pay for the unexpected accountancy fees arising from a tax investigation.
HMRC’s Current Approach
HMRC officials say that special task forces set up by the tax office have seized more than £100m from tax evaders. One taskforce has targeted hidden wealth in the Midlands including people with offshore accounts and those living beyond their obvious means through assets from undeclared income. HMRC say that this approach, which can involve extensive searches through business and tax records, is set to continue into 2014-15 with more taskforces planned. Remember — if you’re selected, you have to prove your innocence!
HMRC Investigation Figures
- The number of people being investigated by the taxman has doubled compared to 2011-2012
- The number of self employed people investigated has quadrupled in that time
- Investigations can be opened completely at random
- Annual prosecutions have risen seven-fold in three years
- Middle-class professionals, such as doctors, lawyers and teachers seem to be targeted as they are more likely to settle any claims without dispute because they felt “anxious” when HMRC sent warning letters
Sources: The Telegraph, ‘HMRC Investigations into savers’ tax affairs double’ (May 16th 2014)
Benefits of Premier Protection
This cover provides you with the equivalent of up to £100,000 of professional costs per incident resulting from an HMRC intervention, including checks into your Tax Return, PAYE, P11D, National Insurance Contributions and VAT affairs. The following benefits are included at no extra cost, and as a client of Square Mile Accounting, you have access to telephonic advice from a team of consultants who specialise in:
Employment: Absence and sickness; Conduct; Disciplinary Procedure
Health and Safety: Reporting an accident; Hazardous substances; Fire
Commercial legal Issues: Landlord and tenancy; Company law; Copyright and patent
Ask us for CCH Fee Protection
The advice you will receive is based on a thorough understanding of your company’s values and strategy: for every case, consultants will outline a range of available ways to respond and it will be up to you to choose which option makes the best business sense to you. Sometimes you may require a solution to a complex problem; sometimes you may simply like to use our specialists as a sounding board regarding the right course of action in an employment relations matter. Whatever the situation, they will guide you every step of the way. Contact us
CCH Premier Protection is offered by Croner Group Limited, registered in England & Wales, No 8654528, VAT Number 173 1676 02. Registered office: Croner House, Wheatfield Way, Hinckley, Leicestershire, LE10 1YG. Croner Group Limited is authorised and regulated by the Financial Conduct Authority and is a wholly owned subsidiary of Wolters Kluwer (UK) Limited.