Client Portal SECTORS SERVICES INSIGHT ABOUT EVENTS CAREERS CONTACT HMRC tax investigations aren't something you hear about. What is a tax investigation? When HMRC make enquiries into your tax affairs. Many tax investigations are random. Unusual fluctuations, undisclosed accounts and random spending can also prompt an enquiry into individuals and companies. The taxman has the power to inspect business documents and assets at your premises, ask for documents and information, make unannounced inspections and go back six years to investigate matters, and in some cases even twenty years. Disruptive, intrusive and expensive – when HMRC investigates it can drag on for a year or more, creating mounting costs and rocketing stress levels. With a budget deficit of over £300 billion, we fully expect HMRC to raise more enquiries to increase tax revenue to plug the hole left in the Government’s finances by the economic damage caused by Covid-19. For those who have relied on a Covid-19 support scheme such as the CJRS (furlough scheme), it is likely that HMRC will be looking a lot more closely at tax returns, payments and compliance history. Tax and VAT repayments will also be checked more rigorously alongside the usual full tax investigations. HMRC may have you in their sights… Annual Tax Investigation Service When you subscribe to our service we are able to make a claim against our insurance policy held with Professional Fee Protection in respect of our fees incurred when we defend a client who is subject to the events shown in the Service Summary. By subscribing you agree that you have read and understood the Service Summary and the events that are included under the Tax Investigation Service and the Main Exclusions. Further details are available on request. Personal Tax Starting from an annual payment of £89.00 Sole Trader Starting from an annual payment of £179.00 Sign up Sign up Partnership Starting from an annual payment of £225.00 Limited Company (turnover up to £10m) Starting from an annual payment of £325.00 Sign up Sign up Limited Company (turnover £10m-£25m) Starting from an annual payment of £635.00 Sign up Personal Clients Please note that each individual requires a separate subscription. Business Clients Please note that each business entity requires a separate subscription. The business subscription includes cover for the personal tax return of the partners, directors & their spouses and the company secretary of the business who have no other business income other than rental income up to £50,000 & provided the tax return is completed by us. The maximum business turnover is £25m per annum (as stated in your last approved accounts) should you have turnover in excess of this please contact us on 0808 1683464 as a bespoke quotation may be required. This service represents the fees for the Annual Tax Investigations Service. In the event of an HMRC enquiry into your tax affairs, we can make a claim on our own practice insurance policy for the recovery of the professional expenses that we incur and these fees are credited to your account. To take out a subscription we must have a current engagement letter in place for the preparation of the tax returns. Please ensure that the correct subscription fee is paid otherwise the investigation/enquiry may not be covered. The Risk The Service In this section Making Tax Digital Tax Investigation Toggle menu VAT Toggle menu Key Contacts David Bennett Tax Partner Related Knowledge Posts Updated guidance: VAT recovery on building materials Posted 24th November 2021 Read more When do I charge VAT on Covid testing? Posted 14th September 2021 Read more Related Publication Making Tax Digital Flowchart – Income Tax Download Three year loss carry back claim for companies Download MHA Moore and Smalley Reports Gender Pay Gap Report Website Policies Baker Tilly International Licence Agreement Terms and Conditions Current Terms of Business Privacy Statement E-mail disclaimer Recruitment Agency Policy Signup for our newsletter First Name Last Name Email Address Sign Up Now, for tomorrow Moore and Smalley LLP trading as MHA Moore & Smalley is a member of the MHA Network, (Click here to see other members) MHA is a member of the global network Baker Tilly International Ltd, the members (Click here to see other members) of which are separate and independent legal entities. © 2021 Moore & Smalley