Tax Investigations are unpredictable and stressful. In keeping with our values, we have sought ways to minimize the risk, the stress and the cost, using our triple direction approach.
•    Prevention
•    Support
•    Protection

Prevention
The prevention process starts with you regular bookkeeping discipline. Failure to keep good records leaves the door open for the Inland Revenue to an easy attack. Without good records, they are able to set their own taxable profit figure for your business, and you can have little objection.

The next part is to review your accounts carefully to make sure we can justify the figures therein. Any anomalies are discusses and explanations made ready.

Accounts are sent in on time every time to demonstrate that you are capable of organizing your affairs well. Late submission of returns (VAT, PAYE, Accounts or anything else) is taken as a good indication of problems with your business.

Support
HM Customs & Excise can instigate an investigation into your business or personal records without reason. There are two types of investigation, aspect enquirers and full enquirers. Aspect enquiries are enquiries into one or several aspects of your affairs. Full enquiries are more serious, where they often request your books and records.
If you are unlucky and are subject to an enquiry, you may find them stressful. They can also be expensive both in time and money (for professional representation).

Our supportive approach allows us to act as a buffer between you and the tax inspector.

Protection
Our supportive approach can be time heavy, and as a result, costs can be high.

To make sure we can support you to the most appropriate extent, we have negotiated with an insurance company to provide our clients with “fee protection” for our fees.  There is a small excess payable as with car and home cover, but the rest is taken care of.

The cost of fee protection starts at £5 per month for sole traders, and £10 per month for Limited Companies and their directors.