Tax Investigation Services

Clay Shaw Thomas is able to offer our client tax enquiry insurance in-house via a scheme with Qdos Taxwise. This type of insurance covers professional fees which are charged in respect of work carried out in dealing with a HMRC tax enquiry.  The Insurance covers both full and aspect enquiries. The likelihood of an enquiry is greater than ever before and the cost of dealing with HMRC enquiries and disputes is increasing. The insurance is affordable and of great benefit and a personalised quote is available on request.

Why take out this policy?

HMRC are becoming increasingly active in their enquiries and last year collected an additional £9.1 billion! And even initiatives are being developed to increase that amount. HMRC have paid a disgraced former employee of an overseas bank, to obtain information on otherwise private bank accounts, which illustrates the lengths that they will go to!

Tax investigations can be chosen at random, and a full investigation could take anything up to 2 years to settle and may cost several thousand pounds in accountancy fees. Worryingly, Aspect Enquiries are becoming more detailed and complex, and HMRC are targeting these as one of their new initiatives to collect more taxes.

So what’s involved?

Membership of our insurance-backed service entitles you to reimbursement of the costs of our professional fees in the event that you have a tax enquiry. It will also mean you have professional representation whilst the tax enquiry is underway.

How much will it cost?

Prices are dependant on the type of business you are and for example start from as little as £57.50 per annum for a personal tax payer up to £269.50 for a limited company with a turnover up to £5m. Not much to pay for peace of mind and protection.  Businesses with a turnover in excess of £5m will be quoted for separately on application.

How to join?

Joining is easy - please call Gretchen Betts now on 01656 867167 or email her at gretchenb@clayshawthomas.com and she can provide a quote and answer any queries you may have.

QDOS Taxwise - Tax Enquiry Insurance Qdos are specialist providers of Tax Enquiry Insurance and taxation consultancy services. They are committed to working in conjunction with Clay Shaw Thomas, thus ensuring your interests are fully protected. Download the leaflet for further information.

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