Tax Investigation Insurance


We are delighted to offer a new add-on service, available to all of our clients regardless of the package they have with us.


This is our Annual Business Protection Service which we have created in response to our customer needs and with Croner Taxwise, the largest tax investigation insurance provider in the UK.


This service will give you even greater opportunities to protect your business and stay on control of your compliance costs. It gives you access to:

  • Employment Law specialists who can advise on all HR matters to help you manage your employees. This includes access to a specialist furlough team who can advise on all HR issue relating to furlough.
  • Commercial legal consultants and experienced solicitors who can advise you on all areas of law including contract, corporate, property and landlord & tenant.
  • Health & safety specialists who can help you understand all your responsibilities.
  • HMRC investigation support where Cole Accounting will deal directly with HMRC on your behalf in the event of an investigation, giving you the peace of mind to focus on your business and saving you the anxiety of unknown additional fees. This includes any HMRC enquiries relating to claims made via the Coronavirus Job Retention Scheme.


Annual Business Protection Service

Please fill out the form and we will get back to you as soon as we can. If you have any questions or would like to speak to us, please give us a call using the number below.

01242 371 317

Contact Us

*Please note that for business clients, where Cole Accounting Limited is the tax return agent of the directors, partners or company secretaries (including their spouses / civil partners) the business fee also covers their personal tax returns at no extra cost, provided annual gross rental income is less than £50,000 and they do not have any self-employment income, otherwise an additional Sole Trader fee will be due.

Tax Investigation.

Don't get caught in the wave.

Tax Investigations are time-consuming, stressful and costly. As your accountant, we want to protect you. That’s why we offer a Tax Investigation Service.



Our service protects you against the cost of professional fees associated with a tax investigation, as well as keeping time and stress factors to a minimum, so you don’t get caught in the wave.

£100,000 indemnity with no excess for:


Any compliance check, visit (regardless of whether a dispute has yet arisen) or investigation started by HMRC regarding compliance with:

  • Corporation Tax
  • Self-Assessment
  • Income Tax
  • Self-Assessment
  • PAYE
  • P11D
  • National Insurance
  • Construction Industry Scheme
  • IR35
  • VAT
  • National Minimum Wage
  • Gift Aid legislation and regulations


Also includes:

  • VAT visits
  • Employer compliance visits
  • Check of employer records
  • Interventions
  • Capital Gains Tax
  • Any HMRC use of pre-dispute information and inspection powers under schedule 36

Closing the gap


£35 billion is the estimated tax gap between what HMRC should collect and what it does collect. Small businesses and individuals account for over half of this tax gap, around £17.9 billion. To help ensure tax compliance and close this gap, HMRC undertake Tax and VAT Investigations

WHY?

a) to reduce the deficit,

b) to make sense of the gap, and

c) to penalise those who’ve contributed.


HOW?

HMRC identify and target areas where they believe tax is at risk. They use sophisticated software to cross match a wide range of data sources, and any anomalies can lead to an investigation. HMRC then follow them up with an enquiry, but ultimately any HMRC return can be selected for an investigation. 

Types of HMRC Enquiry.

  • Enquiries that stem from the use of sophisticated software,


  • Enquiries that result from HMRC actively encouraging members of the public to report taxpayers via their hotline,



  • Random enquiries that HMRC carry out, as ultimately any HMRC return can be selected for an investigation.


Unfair on the Taxpayer

Quite often, such an enquiry is unfair on the taxpayer, as they have no additional tax to pay, yet still have to contend with the stress and uncertainty of an HMRC visit or investigation, as well as having to undergo the disruption that such an enquiry may cause. And if this wasn’t enough, the taxpayer is strongly advised to engage expert professional representation to ensure a robust response is provided and the issue comes to an early resolution. This of course comes at a cost.

Our Tax Investigation Service Can Help

Should you be one of the unlucky ones chosen by HMRC, we offer a Tax Investigation Service. The service gives you professional representation and is backed by an insurance policy that provides up to £100,000 of professional fees.

The Aim Of Our Service Is To:

  • Give you complete peace of mind,
  • Minimise the stress and disruption of an HMRC investigation, and
  • Save you money


What’s more, you will be able to respond to HMRC allowing you the best chance to bring the matter to an early conclusion and mitigate any additional tax that may be due. And for those of you in business and with employees, it gets even better. You can gain access to a dedicated team of HR consultants who can assist you in growing your business by providing proactive commercial advice regarding the managing and well-being of your staff.


Protect Yourself From The Risk

Investigations take TIME


PROBLEM: HMRC investigations are time consuming and can last for many months.


SOLUTION: We have the expertise and experience to deal with HMRC on your behalf, so that your investigation flows more smoothly, allowing you the best chance to bring the matter to an early conclusion. Our early intervention can lead to an early resolution.

  • Corporation Tax
  • Self-Assessment
  • Income Tax
  • Self-Assessment
  • PAYE
  • P11D
  • National Insurance
  • Construction Industry Scheme
  • IR35
  • VAT
  • National Minimum Wage
  • Gift Aid legislation and regulations


Investigations cause STRESS


PROBLEM: HMRC investigations cause stress.


SOLUTION: By engaging our professional representation from the outset, you can eliminate the stress factor from your investigation. We are the middleman between you and HMRC and the sole purpose of our service is to support you, protect you, and put your mind at ease. 

Investigations cost MONEY


PROBLEM: HMRC investigations cost money. Throughout the course of your investigation, you will incur additional accountancy fees. These fees will still be due regardless of the outcome of your investigation. 


SOLUTION: We will safeguard you from the cost of the accountancy fees associated with a tax investigation, so you can relax in the knowledge that there will be no additional accountancy fees to pay. Our service provides insurance backed professional representation for up to £100,000 of fees relating to your investigation.



“A small retail business received a VAT visit followed by some written questions from HMRC, they had the support of their accountant throughout, right from the notice of the VAT visit. This resulted in a timely conclusion of HMRC’s enquiry and virtually no additional tax to pay. The professional fees amounted to £3,200. Fortunately, the business had subscribed to the Tax Investigation Service and these fees were met in full by the service.”


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