Our Services
Fee Protection Insurance In recent years the Inland Revenue has increasingly switched resources from compliance work to investigation. We understand that few individuals or businesses will escape an investigation, be it random or selected, general or aspect only, for more than 5 or 6 years.
You may also have seen recent press coverage stating that the Revenue anticipates that 76% of those investigated will be found to have underpaid tax. Whilst they have denied that this is a target, it clearly shows the direction in which tax collection is moving and estimates suggest that up to 9 million taxpayers a year can be expected to be targeted. This increased emphasis on investigations is supported by the introduction of more severe penalties than those already in force.
Whilst we continue to support all clients in such matters we must be conscious of the cost of such support in terms of professional fees. We believe it is essential that the highest level of professional assistance be provided and that, ideally, the extent of such advice should not be limited by reference to the level of fees which can be afforded. We also consider it essential that control of the action taken in response to any investigation should remain within GreenStones as your chosen advisors.
After careful consideration of the alternatives we established a scheme to protect our clients from the potentially high costs of a tax investigation. These arrangement are based on fee insurance provided in association with IRPC which will cover you or your business for up to £50000 of professional fees resulting from:- - A FULL Inland Revenue investigation.
- VAT disputes.
- Employment compliance disputes, including PAYE/P11D.
The scheme also includes, either direct or via ourselves, unlimited access to IRPC’s telephone helpline which provides answers to any questions you may have on:- - Employment and personnel issues.
- Health and safety.
- Commercial legal matters.
The cost of the insurance starts from as little as £60. Please do not hesitate to contact Simon Chaplin if you would like to discuss the benefits of the scheme further.
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