Tax Investigations are on the increase. HMRC has spent over £80m on a new super computer specifically to identify businesses and individuals who are identified as having potential tax discrepancies.
The sophisticated system trawls a wide variety of sources generating a digital footprint and building a profile of a taxpayer's total income. HMRC scans Government and commercial data from the likes of financial institutions, Land Registry, DVLA and employers. It uses this information to identify businesses and individuals whose profiles indicate potential inconsistencies and then targets them for investigation.
£34 billion - the estimated gap between what HMRC should collect and what it does collect
£26 billion - the additional amount of annual tax income that HMRC want to achieve
£80 million - spent by HMRC to develop a super computer that monitors your digital footprint for potential underpaid taxes
Your chances of being investigated are increasing year on year. We can protect you from the costs of any additional fees that arise should you be subject to investigation.
Protect yourself today!
Our normal annual fees do not cover the additional professional fees of handling tax enquiries and compliance checks. We therefore provide a Tax Enquiry Fee Protection service, which for a relatively small annual cost, provides protection for fees we incur dealing with an enquiry on your behalf.
Importantly, our Tax enquiry policy will cover Covid-19 related enquiries subject to our policy’s Terms and Conditions. Cleary fraudulent claims for any government backed scheme will not be covered.
We strongly recommend that you are protected against such unexpected costs by subscribing to our Tax Fee Enquiry Protection service.
Where our service comes in…
If the HMRC states its intention to investigate your tax payments don’t panic. Then call us – your trusted advisors and best defence.
We will translate the many complicated questions the taxman may pose, manage the entire conversation with the taxman, help you submit any required information and minimise the impact on your business or personal accounts.
Tax Enquiry Fee Protection offers peace of mind…
To provide peace of mind, we offer all of our clients a Tax Enquiry Fee Protection Service. The service is backed by an insurance policy which we have taken out in our own name and under which we can claim the costs of defending clients who face tax enquiries.
Alternatively you can call your local office or emailFEEPROTECTION@STREETSWEB.CO.UK
The Service is backed by an insurance policy taken out in our name with Croner Taxwise Limited (Financial Services Register number 304970) and underwritten by Irwell Insurance Company Limited (Financial Services Register number 202897).
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