“This is Money” reported the mindset that the HMRC take when they target specific sectors. In 2015, it was seen that “the taxman forced Britain’s wealthy middle classes including doctors, dentists and lawyers to hand back an extra £137 million” following a clampdown.
Professional Fee Protection have informed us that, recently, HMRC have boosted returns from its investment into tax investigations carried out by local compliance teams. They have focussed on individual taxpayers and small businesses. With the new aggressive approach adopted by HMRC, this means that it is much more likely that innocent taxpayers may end up on the receiving end of a tax investigation.
In recent experience, additional accountancy fees for dealing with investigation enquiries have been in the range of £750 to £5,000. Therefore, Ramsay Brown and Partners believe it is necessary and our duty to provide a service exclusively to our clients to protect them from incurring additional accountancy fees should an HMRC tax investigation arise and to ensure that all of our clients are aware of this security we offer.
The large majority of our clients are already protected by subscribing to the Ramsay Brown Tax Investigation Service (TIS). When you subscribe to our service, if you are investigated, we are able to make a claim against our insurance policy held with Professional Fee Protection in respect of our fees incurred (up to £100,000 per claim unless otherwise indicated) when we defend you.
Taking out a subscription to our service means that our fees are one less thing for you to worry about if an investigation were to arise.
If you would like further details of the Ramsay Brown Tax Investigation Service (TIS), please contact Danielle Pottinger at firstname.lastname@example.org.