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TaxSafe - tax compliance serviceTax enquiries Being investigated by HM Revenue & Customs (HMRC) can be disruptive, intrusive and expensive. Sometimes a case can drag on for a year or more, saddling you, the taxpayer, with spiraling stress levels and mounting costs. An investigation may be triggered when HMRC pick up something they see as an anomaly on a tax return or they may act in response to a tip-off, something they spot in a local newspaper or even an overheard conversation in the pub. Often it can be because their computer picks up an unexpected trend, however legitimate it may be. But they don't have to have a reason at all. Every taxpayer is at risk of being chosen at any time, purely on a random basis. No-one is immune. Our experience of recent tax enquiries It appears to be the current policy of HM Revenue & Customs to employ more and more enquiry officers, who do not have the same level of experience (and, dare we say it, common sense !) as tax inspectors. In our opinion this leads to situations where a 'no stone unturned' approach is adopted, especially as there are now bonus incentive schemes on offer to enquiry officers who meet their recovery targets. We have noticed that this policy encourages enquiry officers to be aggressive in their approach in that they tend to make sweeping judgements about the amount of income underdeclared. For example, where there are 2 or 3 bankings in your private account from 3 years ago but you can no longer recall what they were for. The enquiry officer is more likely now to assume that this is 'the tip of the iceberg' and tax you on £20,000 worth of undeclared takings. It is up to you to disprove them ! This all takes time and has the potential to be costly in professional fees. TaxSafe We have taken out an insurance policy that enables us to offer our clients TaxSafe, a service that protects you from the financial implications of an investigation or dispute with the tax authorities. Because we can recover the cost of representing you from ourpolicy, in most cases, other than a small annual fee to ensure cover within the service, you pay nothing at all and we can defend you for as long as it takes. Business support helpline As part of the TaxSafe package, your business has access to a valuable helpline to guide you through the legal minefield of today's business environment. The Business Support Helpline offers you instant telephone access to expert, tailored advice, leaving you free to get on with running your business. Areas of advice include: Employment and personnel, such as:
Health & safety, such as:
Commercial legal issues, such as:
Having a conscientious accountant and exemplary bookkeeping won't stop you from being chosen for an investigation. Why leave it to chance ? To protect you, and your business, contact us now on 01604 678470 or by email info  elsbyandco.co.uk for further details. |
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