There continues to be significant increases in the number of tax inquiries 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
- At 31 March 2017, HMRC employed around 61,800 full-time equivalent employees in 145 buildings across the UK, collecting tax and duties from more than 45 million individuals and 5.4 million businesses.
- For the seventh consecutive year, HMRC has achieved record total tax revenues. In the tax year 2016-17, total revenue increased by £38.1 billion, or 7.1%, to £574.9 billion.
- HMRC also generated £28.9 billion of compliance yield last year, which exceeded their targets. As a result of this focus, 886 criminals and fraudsters were prosecuted last year.
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
Further information can be found in our factsheet Service Summary_Marketing
In addition you can find details on a list of frequently asked questions in the following factsheet FAQ_MFW
Alternatively, contact your local MFW office where staff will be pleased to help.