Taxwise Fee Protection Services

What is covered by our Service?

You will be fully protected by the Service and FortuneHart will claim under our insurance policy, which provides cover for up to £75,000 of professional costs, when dealing with any correspondence or meetings with HMRC regarding:

• Full tax investigation
• Aspect enquiries
• IR35 enquiries

What powers do HM Revenue & Customs now have?

From April 2009, HMRC are able to visit business premises to inspect records covering all taxes including corporate, income, PAYE, NI, Capital Gains and VAT. They can now also issue written queries before you have even submitted your annual tax returns.

Can anyone’s tax affairs be scrutinised by HMRC?

Anyone that pays tax can come under scrutiny. Every year, HMRC starts enquiries into thousands of personal and business tax returns and accounts. VAT and PAYE payments are also thoroughly checked. The aim in every case is to collect more tax.

I’ve done nothing wrong, why should I worry about a tax enquiry?

Most enquiries are generated by computer ‘risk profiling’ and many are selected completely at random. As a result, HMRC sometimes picks the wrong targets. Even if you have done nothing wrong, the taxman will not give up and will still try hard to find errors.

How much could a tax enquiry cost me in professional fees?

The questions asked by HMRC are usually very detailed and time consuming to answer. The costs of defending you can easily run into thousands of pounds, even if little or no extra tax is paid at the end of the enquiry. These costs are not covered by our normal annual fees.

Is there anything I can do for peace of mind?

Our Taxwise service option will cover you for our work and costs of defending you in the event of a tax enquiry by HMRC.

What is our Taxwise Service?

For a small additional service charge, you can enjoy the benefit and security of our Tax Investigation Protection scheme backed by our practice insurance policy. In the event of your tax investigation, our insurance policy will swing into action.

What are the main benefits to subscribing clients of this Service?

• We will defend you should you receive any correspondence or visit from HMRC.
• We will claim the potentially high costs of professional fees for your defence under our practice insurance policy.
• You need not accept unreasonable HMRC taxes due to concerns about professional fees.