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HMRC is taking swifter legal action against those who don’t come forward and sort out their taxes. There has been a huge increase in inquiries into Sole Traders and Small Businesses in particular.
Fee Protection can provide businesses with reassurance that they are protected against unforeseen costs associated with HMRC investigations. In many cases, HMRC investigations can result in expenses running into the thousands or even hundreds of thousands of pounds.
By subscribing to our Fee Protection Service, companies can be confident that their accountant's fees for handling the investigation will be covered, helping to mitigate the financial risks of an investigation.
In essence, Fee Protection will protect you if your business is chosen for a tax investigation by HMRC. This will ensure that you have peace of mind for any additional hours your accountant may need in order to handle the investigation on your behalf.
Fee Protection provides significant cost savings, as it can cover the expenses incurred by your accountant during tax compliance investigations, which could run into six figures. In addition to cost savings, Fee Protection also offers invaluable peace of mind.
It's important to note that no business is immune an HMRC investigation, regardless of their size or turnover. An anonymous tip-off or suspicion of non-transparency in your returns can lead to a case being opened. These investigations may involve analysing up to 20 years' worth of accounts, which is a lengthy and time-consuming process that can result in high fees.
However, with Fee Protection, you can be assured that you can pay your accountant's fees, even if they amount to tens of thousands of pounds. This ensures the investigation process is significantly less stressful and allows you to focus on your daily operations with confidence.
As part of your cover with Brearley & Co, you will also receive access to Croner’s My Business Hub – a tool that includes a range of information and resources for you and your business to use for as long as you are subscribed to the service.
Fee Protection provides coverage if there is an enquiry launched by HMRC. You are covered for HMRC investigations for the following:
In the event of any communication from HMRC relating to an investigation or tax dispute, you should contact us immediately so we can assess the situation. We would then make a claim against our own policy and credit the proceeds against your liability for fees.
Fee Protection isn’t mandatory, however for our existing clients, it’s there to provide peace of mind for any investigations that may be launched by HMRC in the future.
Fee Protection costs vary depending on the size and turnover of your business. Get in touch with us to discuss adding this to your Brearley & Co services.
Your Fee Protection subscription will cover you from 1st April to 31st March the following year. Should you want to continue with your subscription after the first year, it will need renewing.
Some of the recent inquiries we have dealt with on behalf of our clients regarding Fee Protection include:
We negotiated with HMRC for our client, a Building Contractor, who had received demands in excess of £80,000 for Tax and NIC following proposed reclassification of sub-contractors to employees. We successfully proved that they were genuine sub-contractors.
We have lodged successful appeals based on various technical arguments on behalf of clients who have had their C.I.S Certificates withdrawn.
We have successfully negotiated for clients who have had to bestow settlements with HMRC following offshore account voluntary declarations.
Any HMRC investigation or enquiry can be a bewildering and stressful experience. Even if you are found to owe no tax at all, you will still have to pay the professional fees incurred in us handling your case.
We pride ourselves on the added value that we bring to our clients, with a friendly and proactive team. Learn more about us today!
Be sure to take a look at some more of our testimonials!
For the latest information from HMRC, check out our blog.
Brearley & Co Accountants are pleased to offer a free, no obligation, initial consultation with one of our experts who will be happy to discuss your business needs and how we can help you.Contact
I would highly recommend Steven at Brearley & Co Accountants. On Steven’s advice we moved to Quickbooks and it was a brilliant decision. He has helped to streamline our accounting so that it now runs much more efficiently. Nothing is ever too much trouble, even if the question is a rather minor one. He is always at the end of the phone or email if any advice is needed and responds to queries very quickly. Steven delivers a friendly, personal and professional service and his knowledge of Quickbooks is second to none. I cannot recommend Steven highly enough; he is an excellent accountant!
Brearley & Co Accountants has been the perfect find for all of our accounting needs and business advice and support. They place customer satisfaction at the top of their agenda and backed up with all of the knowledge you could ever need to know for starting or running a business means any enquiry or concern is swiftly dealt with and the support offered is second to none. As a new business owner I couldn’t recommend Brearley and Co Accountants enough as the perfect support for your new venture or as an alternative with an extremely approachable and professional manner.
Matt Lindsay - Director
Brearley Accountants have provided Silver Healthcare Ltd with Accounting Services for around 20 years, as well as a trusted advisor, they have provided sound professional advice on numerous occasions. The team headed by Mark Smallman are very proactive and professional, special attention has always been provided regarding general accounting and tax requirements enabling me and the team to concentrate on the running of the business. Top quality accounting with a friendly personal approach.
Yates Drywall have worked with Brearleys since we began trading in 2014. We have found them to be professional and proficient, whilst friendly and helpful. Brearleys have helped us to grow our business and provide us with reassurance that we are complying with regulations. If we have any queries they always come back to us and proactively support us in ensuring our business runs smoothly. I would have no hesitation in recommending Brearleys to others.
Taxation and accounting requirements can be somewhat of a minefield when it comes to running your own business. It is such a relief to know I have Brearley & Co in my corner, taking care of all of my company and personal accounting and taxation affairs, leaving me with much needed time to concentrate on running my business. They always provide an efficient, professional service delivered in an easy to understand and friendly manner.