Richard Grimster
Partner
Tax Investigation Services
Minimising your risk with the best possible representation
At Price Bailey, we have crafted our tax investigation service to alleviate the stress of possible HMRC investigations of you and your business.
We can minimise the risk of having additional duties to pay by providing you with the best possible representation if HMRC decides to inspect your books or records.
Over 1000 of our clients – individuals and businesses – are covering themselves with TIS, ensuring they receive the best possible defence to protect their tax position.
Business cover
The Price Bailey Tax Investigation Service (TIS) is designed to reimburse our professional costs in the event of Self-Assessment Full and Aspect Enquiries for both corporate and non-corporate clients, including enquiries into the personal affairs of directors and partners.
The service also reimburses the professional costs arising from the following:
- Employer Compliance Disputes
- IR35 Disputes
- HMRC VAT Disputes
- Schedule 36 Enquiries
Private cover
Our tax investigation service also extends to individuals who are not in business. For example, the Inspector could investigate your return in respect of interest received and income from dividends, lettings etc. Inheritance Tax returns are also covered for fees up to £5,000.
Peace of mind
We aim to achieve the best possible outcome without you having to be concerned about the time and cost needed to fully defend your case. Having an expert who is familiar with both your business and your tax affairs is key to dealing with any HMRC enquiries.
Investigations can be intrusive and obstructive to you and your company, and although we cannot stop HMRC from selecting your company for investigation, we can help lessen their impact and ease stress by dealing with HMRC on your behalf.
As a well-established and highly respected firm, over the years we have developed a good relationship with HMRC. We will be on hand to advise you on all aspects of any investigation. This will help in keeping any investigation as short as possible and also in minimising the disruption to your business.
If you subscribe to the Price Bailey Tax Investigations Service, you will also have the added benefit of access to a free telephone helpline for legal advice on:
- Employment & Personnel issues
- Health & Safety
- Commercial issues
Is your business at risk of being investigated?
Every business, whether you’re a sole trader or partnership, or an individual taxpayer can fall victim to a random Self-Assessment investigation, full investigation, and examination of its P11D return of benefits.
HMRC are also investigating some businesses who claimed on the Coronavirus Job Retention Scheme (CJRS), and have a designated Task Force expected to review the legitimacy of over 30,000 claims.
- Employers could have a PAYE or NIC audit which may lead to an investigation.
- VAT registered businesses could have a control visit, many of which lead to an investigation and additional VAT.
Even if HMRC find nothing from an inspection, they are still very time consuming and stressful – which can be avoided though our Tax Investigation Service.
Range and limit of service
The Price Bailey Tax Investigations Service provides for reimbursement of up to £125,000 of professional fees in the event of an accepted claim on our practice policy.
The professional fees reimbursed include the fees of Price Bailey in representing you in the investigation or enquiry, and with prior approval and where necessary, any other experts who may be required.
The service does not reimburse you for additional tax, interest or penalties which may become due as a result of the enquiry, but will ensure that you can have the best representation, at little or no cost, so that you can deal with HMRC on an equal basis.
Tax investigations - the facts
- HM Revenue & Customs (HMRC) has the right under law to inspect your books and records at any time.
- Under Self-Assessment legislation HMRC investigate taxpayers at random.
- HMRC does not have to give a reason for an investigation or have any suspicion; no one is immune from investigation.
- A full investigation is likely to involve HMRC looking at all of your affairs.
- As an alternative to a full investigation, HMRC can raise an aspect enquiry, which will fall short of a full enquiry, but will instead concentrate on one or more aspects of the return.
- The average length of a full investigation is 19 months.
- Professional fees for dealing with an investigation often exceed £5,000.
- Tax investigations can disrupt the day to day running of the business.
- Price Bailey have developed a Tax Investigations Service which protects the cost of professional fees that are incurred in representing members of the service in tax investigations.
- The service is designed to alleviate stress for our clients of having to deal with an enquiry themselves, involving unforeseen costs.
Terms and conditions of the service
The service is designed to provide comprehensive cover. However, there are certain conditions and exclusions.
The main exclusions are as follows:
- Existing investigations and disputes at the time you subscribe to the service.
- Investigations and disputes where your Tax Returns are late and in a penalty position.
- Where there are allegations of fraud or other serious misdemeanours, for instance investigations by the Fraud Investigation Service of HMRC.
- Routine annual compliance work undertaken for you by Price Bailey.
- Enquiries into tax planning arrangements where HMRC have allocated a Disclosure of Tax Avoidance Scheme (DoTAS) Number and/or bespoke tax planning arrangements outside of the normal trade.
It is also essential that you notify us immediately when you become aware of an event which may give rise to a claim.
Reimbursement of fees can only be made after written acceptance of a claim, so it is vital that we notify our insurers immediately when an investigation starts. Copies of the full terms and conditions of our service are available on request.
Clients are responsible for any fees that we cannot recover from our insurers.
Got any questions?
If you have any further questions regarding our Tax Investigation Service, please read our Frequently Asked Questions page.
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