HMRC Tax Investigations
The number of Tax and VAT compliance checks (formally known as HMRC Tax Investigations) is increasing every single year with any one of our clients at MKS being able to be selected for an investigation by HMRC: whether that’s a business, a director or an individual taxpayer.
£34 Billion is the estimated Tax gap between what HMRC should collect and what they do collect.
£26 Billion is the additional amount of annual tax income that HMRC are targeting to achieve though compliance activity.
£80 Billion has been spent on developing a strategic risk database that automatically generates Tax enquiries.
Tax investigations are time consuming, stressful and costly. Investigations can last for many months even years. During this time, you can find yourselves incurring very high accountancy fees.
By providing this new service; The Tax – Fee Protection Scheme for all our clients means that you can take advantage of eliminating the accountancy costs involved in dealing with your compliance checks, as many are not aware that this service is separate from your usually annual accountancy fee’s.
Our current fees for such investigation are charged at £250+VAT per hour. However, by Paying into this scheme we will promise that you will not incur any further fee’s in relation to completing your compliance check*
Unfortunately, no one can prevent an investigation from happening but you can protect yourself against the cost for a modest annual fee.
Join MKS for your own piece of mind!
*MKS will not charge any fees to the limit of £10,000 for any one compliance check in a 12-month period. Cover for the scheme runs between 01st May to 30th April. No client can join after 30th April unless it is a new engagement. New engagement fees for scheme will be apportioned accordingly.