New Penalties, New HMRC Powers

The Government announce new powers available to HMRC, and their new tactic to ‘come down hard’ on non-complying tax returns.

Through HMRC, the government have increased the powers available to inspect business premises. They have also established a new penalty structure based on subjective ‘reasonable care’ clauses. These penalties can be complicated, and require our involvement.

These new powers and penalties have the potential to seriously jeopardise UK businesses, and tax experts warn that an increasingly desperate Revenue will drag more innocent taxpayers into lengthy investigations.

What does our scheme offer?

The equivalent of up to £75,000 of professional costs per incident resulting from HMRC investigations or disputes for both full and aspect enquiries, pre-disputes, reviews, compliance checks, or interventions. The security of knowing that we can dedicate all the time and resources we need to represent you – and you won’t have to worry about our fees.

The knowledge that you’re dealing with us, your own accountants, rather than a stranger who doesn’t know you or your affairs. Peace of mind – our scheme has been set up for us by Taxwise.

‘Directors and Partners’ cover for companies & partnerships.

Investigations into the tax return of the directors and partners of a business covered by our scheme are also included, provided that we act as the tax return agents for the individuals concerned. The tax return must be a personal, non-business return, which should not include any self employment pages, and gross annual rental income (per individual) must not exceed £50,000.

If you fall outside of this criteria, separate cover is available – please contact us for further information.

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