Subscription to the HMRC tax investigation fee protection service

35.5 billion is the estimated tax gap between what HMRC should collect and what it does collect. To ensure tax compliance and to close this gap, HMRC undertakes tax and VAT investigations.

This year, HMRC will be working hard to collect more tax revenue from UK companies than ever before. Small businesses are easy targets and most at risk.

HMRC now uses very sophisticated software, obtaining information from multiple sources including tax returns, banks, Companies House, Land Registry, DVLA, PayPal and many more. Discrepancies can potentially trigger an enquiry, regardless of the fact that there is a sound explanation. It for this reason that we want to give you access to the best possible advice and strategies to help you if your business is targeted by HMRC.

Tax investigations are time consuming, stressful and expensive, and investigations can last for many months. During this time you could find yourself incurring accountancy and professional representation fees as well as having to deal with costly business disruption and probing questions. Even if you’re found to owe nothing, you will still have to pay your professional fees.

Tax Investigation Fee Protection is a scheme that covers clients of an accountancy practice for any professional fees that result from an investigation by HMRC.

For a modest annual fee you can join the join Competex Tax Investigation Protection scheme and safeguard yourself from the cost of the professional fees associated with a tax investigation. In the unfortunate event that you are selected for investigation you can relax safe in the knowledge that there will be no professional fees to pay.

We have entered into a partnership with Croner Taxwise to offer this service, which covers you for up to £100,000 towards professional fees resulting from an HMRC Investigation into either you or your company’s affairs.

• You will have access to the best expertise and knowledge from both Competex and the tax experts at Croner Taxwise, and you will have peace of mind that experts are dealing with HMRC on your behalf
• We and our partners, Croner Taxwise, will provide professional representation on all matters relating to your investigation, ensuring it runs as smoothly as possible. We also deal directly with the insurers.
• Dealing with HMRC on your own could make matters worse
• Early intervention can lead to early resolution
• Additional penalties or tax due can be avoided or mitigated.

• Any compliance check, visit (regardless of whether a dispute has yet arisen) or investigation started by HMRC regarding your compliance with Income Tax and/or Corporation Tax Self Assessment: PAYE, P11D, National Insurance, Construction Industry Scheme, IR35, VAT; National Minimum Wage or Gift Aid legislation and regulations
• The scheme also covers:
  • VAT visits
  • Employer Compliance visits
  • Check of employer records
  • Interventions
  • Requests for information
  • Capital Gains Tax
  • Any HMRC use of pre-dispute information and inspection powers under schedule 36
• In addition, Croner protection scheme includes: Inheritance Tax enquiries, COP8 enquiries up to £15,000, 90 days’ late return cover, Stamp Duty, Stamp Duty Land Tax, and Land & Buildings Transaction Tax enquiries, Appeal to the First-tier Tribunal, Appeal to the Upper Tribunal, Appeal to the Employment Tribunal, No excesses

The key exclusions are fraud, criminal prosecutions, tax avoidance schemes, deliberate omissions, any tax, fines, penalties or interest that you may be required to pay and any enquiries that commence prior to the commencement date of the policy.

For details on the terms and conditions please email us.

Members of the scheme will also benefit from Croner’s digital portal My Business Hub, giving you access to expert industry insights and resources across HR, Legal and Safety including:

• Employment contracts, absence, and flexible working
• Company and consumer law, business insurance, and legal contracts
• Health & safety policy, working from home, fire safety, and stress in
  the workplace
• Full telephone access to the UK’s leading advisors in these areas

My Business Hub is designed to support your business in these commonly under-resourced areas, so you can focus on growing and delivering your business.

In the event of any correspondence or communication from HMRC relating to a potential enquiry or dispute, please speak to your accountant straight away and get immediate professional advice. Your accountant will make a claim against their Policy and credit the proceeds against your liability for fees. You could be liable for fees not covered by the service.

To enquire about subscription fees to this service, please email us.

To join the scheme, please make payment by BACS for the full amount. A receipted VAT invoice will be issued upon receipt of payment.

This is an annual service unless we advise you otherwise. The service period will last for 12 months.

If you wish to join part way through the service period, please email us and we will discuss with our service partner how soon we can add you to the protection scheme. The service will then commence from the date agreed and payment for the pro-rated fees is received.

Please make your BACS payment to the following account:

Sort Code: 15-20-25

Account Number: 20491887

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