Even in a period of economic difficulty and reducing tax yields tax investigations are a real and growing threat to small and medium sized companies. We therefore strongly recommend that all of our clients protect themselves and their businesses.
HMRC are currently broadening their attack on perceived avoidance areas and have recently started to target professionals such as those working in the health sector or large professional service firms such as lawyers, architects and accountants. Remember, regardless of how well run your systems may be, no one is immune from scrutiny.
Robson Taylor provides Fee protection insurance that covers clients and their business for our professional fees in the event that you experience any of the following:
- VAT disputes
- PAYE disputes (which can arise from employer compliance visits)
- Full corporation tax self-assessment enquiries, i.e. where HM Revenue and Customs ask for all the business books and records.
- Full personal self assessment enquiries for directors i.e. where HM Revenue and Customs ask for all the individual’s records.
For a relatively modest weekly investment, we have arranged an insurance scheme to offer comprehensive cover against the professional fee costs of an HM Revenue & Customs investigation.
The annual premiums are based on a renewal date of 14 March each year and currently stand at:-
- £35 - Self assessment tax returns
- £109 - Sole traders
- £135 - Partnerships
- £209 - Limited companies.
In these difficult times Robson Taylor's insurance provider has frozen their premiums for 2010 at their 2008 rates.
Contact Stephen Fox on 01225 428114 or Email s.fox@robsontaylor.co.uk for more details.
Date:9 February 2010
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