How to save money when the taxman calls

14 August 2007

Chapman Robinson & Moore (CRM) have launched their new Tax Investigations Fee Protection Service. This is open to all people for whom we prepare tax returns, whether personal, partnership, company or trust.

Taking advantage of this opportunity means that in the event that you are selected by HM Revenue & Customs for an enquiry then you do not need to worry about the costs of CRM defending you, which could otherwise run into thousands of pounds in a protracted enquiry; instead the fees are met in full by Abbey Tax.

The Revenue continues to be extremely aggressive when dealing with investigations. More worryingly, Inspectors are also being targeted and, it has been reported, incentivised to produce higher yields during investigations. As a result of this, not surprisingly, the average cost of defending clients during investigation is also increasing and therefore without this service, you will be responsible for all of the professional costs incurred. We strongly recommend that you benefit from the security of this service provides, as:

  • No one is immune from Enquiry.
  • Every day you are at risk of being randomly selected for investigation.
  • In 2005/06 HM Revenue & Customs collected an additional £5,705million from investigation work. You could be next.

CRM have also negotiated favourable terms with our insurers and extended the standard cover above the level normally available in the market place so that our Service includes Income Tax and/or Corporation Tax Aspect Enquiries rather than just full enquiries which is often the extent of similar services available elsewhere.

By subscribing to this Service, Business clients also receive access to a 24hour Business Legal Helpline providing Employment, Health & Safety and Commercial advice at no additional charge.

If you run a business through a partnership or limited company, then paying the business premium also covers the partners/working directors’ personal return where the reason for opening the enquiry is in relation to the business and follows an enquiry into the company/partnership. There is no additional charge for this, although if a personal enquiry is raised over non-business items, such as rental income, capital gains or investment income, then you would need to have taken out a personal policy to be covered in this eventuality.

We feel this is of real value to our clients. The cost of defending yourself from an enquiry into your personal or company tax return can amount to thousands of pounds, even where there is nothing or very little to find. Subscribing to this service will take away the concern over having to weigh up the cost of defending yourself from attack by the Revenue against the extra tax they are seeking from you.

To discuss this in more detail, please get in touch with either your normal contact at CRM, or Alan Sowden on 01865 379272. Alternatively please e-mail Alan with your queries or with your contact telephone number to find out more.