HMRC has the right to launch a tax investigation on any tax-paying business or individual at any time.  A certain number of businesses are picked at random each year to be investigated, so even if your accounts are all in order, you could still be selected.

Tax investigation insurance is available to cover any costs incurred during an investigation and to provide you with expert support.  The average tax enquiry can cost a small business between £4,000 – £5,000, but costs can spiral depending on the circumstances.  Accountant and representative fees soon add up, not to mention the number of hours lost that could have been spent running your business.  Having insurance in place can protect you from this unforeseen expenditure.

We can assist with both providing tax investigation insurance and acting as your accountant during an investigation.  To find out more, contact us.

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