Fee protection insurance
Fee protection insurance
HM Revenue & Customs (HMRC) recently stated it aims to claw back an extra £3.5 billion every year until 2008 to set against revenue lost to tax avoidance issues.
With no taxpayer being immune from investigations, enquiries or disputes by HMRC, we at Orcom Civvals recommend to all our clients that they join our fee protection scheme.
What is Fee Protection
Fee protection will offer you peace of mind by paying the additional professional fees required to provide you with the right level of representation should you be subject to an investigation, enquiry or dispute with the tax authorities.
Business Support Helpline
Included at no extra cost for business clients in our TaxSure Fee Protection scheme is access to a Business Support Helpline. Whether you need a second opinion or a guiding hand, instant access to expert advice comes as part of the package.
If you need advice about making someone redundant, disciplining an employee, reporting an accident, etc. then obtaining the right advice quickly could be crucial to your business, but it can be costly.
The Helpline is renowned for the level of expertise and support that it provides businesses of all sizes. The consultants who man the Helpline are recruited for their ability to draw on their own specialist knowledge and experience to provide tailored, practical and realistic solutions. They all have many years’ experience gained in different industry backgrounds.
The Helpline offers advice in the following key areas:
- Employment Law
- Health & Safety
- Commercial Legal issues
Joining our Fee Protection scheme will mean not only peace of mind regarding your tax affairs but also you will have that all important access to expert advice you might need – at no extra cost.
To find out more contact the partner you normally deal with on 020 7258 3461 or email us at firstname.lastname@example.org.
Fee Protection in Practice
Small family run-restaurant
The enquiry ran for four years, HMRC was adamant that sales had been understated but the only additions were minor and in respect of private use adjustments. Final accountancy fees required to provide the right level of representation were just over £7,000.
Small family-run building firm
A VAT dispute which concerned the business’s VAT registration. The case was decided in the client’s favour and over £30,000 of VAT was saved. The costs incurred in representing the client were approximately £8,500 over a three-year period.
Sole trader landscape gardener
HMRC claimed the gardener had understated his sales. The investigation ran for three years with fees approximately £7,000 being incurred to prove that the sales were not understated.
Medium sized retail firm
The enquiry ran for 18 months and the firm incurred just under £10,000 in accountancy fees as a result. Following the enquiry, all the company had to pay was a further £200 in tax.