Increased Investigations
You have probably heard HMRC are now targeted to increase tax revenues. As a result they have greatly increased the number of tax investigations they perform on small and medium sized businesses as well as larger organisations.
Enquiries and investigations can cover any aspect of your personal and business activity and HMRC inspectors have the power to visit your premises to review all of your business records, tax returns, and PAYE/NIC/CIS/VAT information.
What you might not have considered is that such investigations can lead to professional fees and time taken out of the business even if no additional tax demands are made.
Fee Protection
Lewis Smith & Co. has considerable expertise in defending our clients under enquiry by HMRC and our aim is to always settle matters quickly and minimise any potential final tax liabilities. However, answering HMRC queries can often drag on for some time, and our costs to defend you may soon add up.
That’s why we are offering you the opportunity to join our Tax Enquiry Fee Protection Service, Taxwise Plus.
Taxwise Plus covers all of the specialist professional fees that would occur if you needed Lewis Smith & Co. to respond to an investigation from HMRC. The Service is backed by an insurance policy under which we can claim the costs of defending you in tax enquiries.
Benefits of Fee Protection
Dealing with HMRC under any circumstances can be stressful especially when an investigation is unexpected. Taking out our low cost fee protection service means that you don’t have to worry about nasty surprises.
- You get full, expert support to defend your case.
- Our team of professional advisors will manage all dealings with HMRC on your behalf.
- You are covered for up to £100,000 of our professional fees in representing you.
Fee Schedule
| Annual Premium | Annual Fee exc. VAT | |
| Personal tax clients. Rental income up to £50,000 | £162.00 | |
| Sole Traders with annual turnover up to £10m & personal tax clients with rental income of £50,000 or more. | £168.00 | |
| Partnership (with annual turnover up to £10m) | £198.00 | |
| Limited Companies: | ||
| Turnover – up to £1m | £204.00 | |
| Turnover – £1m – £5m | £240.00 | |
| Turnover – £5m – £10m | £282.00 | |
| Turnover – £10m – £25m | £336.00 |
If your business has an annual turnover of more than £25m please call us.
Please note that the costs of tax enquiries are not included in our normal annual fees and clients who do not pay for the Service will be charged the full amount of any such costs.
Find out more
If you want more details of the Taxwise Plus Service and how it could benefit you, call Andrew or Craig today on 01384 235549 or email info@lewissmith.com.
Lewis Smith & Co. – Accountants for Stourbridge Businesses
