HMRC has launched hundreds of investigations against the Owners of Rental Property in the last few years.
The Government is faced with record levels of deficit. As it works to fill a public finance black hole, it has allocated significant resource to HMRC to yield increased tax revenue by carrying out compliance checks.
We have seen an increase in the number of enquiries raised on tax returns and the tax authorities now have more powers than ever to investigate UK businesses and individuals.
We recommend to all our clients that they consider subscribing to the Tax Investigation Service which will cover our professional fees that result from most types of HMRC enquiry or investigation (full details are listed in the Service Summary).
Unlike some fee protection products that appoint their own advisors, our service ensures that we can continue representing you. We believe that we know you and your business best and we want to be there for you when you need us most.
Our service is backed by an insurance policy from Professional Fee Protection Limited (PfP®) which we have taken out in our own name.
What could an investigation involve?
Some investigations will involve a detailed examination of a specific item on a tax return others may extend to a full review of all individual tax affairs. HMRC has the power to inspect your documents and assets, make unannounced inspections and go back up to six years to investigate matters.