Over the past 2 years there has been a significant increase in the number of enquiries being conducted by HMRC. Although many businesses and individuals believe they are not at risk unfortunately, this is not the case, as any business or individual who submits a tax return can be selected completely randomly by HMRC for a wide range of tax investigations.
Tax Investigation Service
Tax enquiries are continuing to increase
- Last year HMRC collected £23.9 billion from tax investigations – almost £2 billion above their target for the year. They have also announced that they aim to bring in extra revenue of £7 billion a year by 2015 and last year they redeployed more than 5,000 people to new or different compliance roles to help meet new targets.
- Together with these high targets HMRC now has more powers to investigate businesses and individuals than ever before and depending on the complexity of an enquiry you could find you need to pay additional professional fees to support your defence.
Introducing the MFW Tax Investigation Service
To provide peace of mind we have therefore established our Tax Investigation Service to help protect against the professional costs involved in a tax investigation or enquiry. Our Service is backed by an insurance policy we have taken out with one of the market leaders, Professional Fee Protection (PfP), and is underwritten by a group company of the worldwide AXA Group.
For more details of this service please visit our Tax Investigation Service website Click here
Alternatively, contact your local MFW office for further information.