Tax Investigation Service with Abbey Tax Insurance.
With the Government looking to reduce the massive national debt it is likely that there will be even more pressure on Her Majesty's Revenue & Customs (HMRC) to bring in additional monies to the Exchequer. Add to that the new far-reaching powers of inspection granted to HMRC in 2009 and it is likely to mean that tax enquiries will be more complex than ever, subsequently increasing the costs of representation.
Our Tax Investigations Service is designed to reimburse the costs of your defence in the event that you are selected for enquiry, whilst at the same time providing you with the best possible representation and assurance that you won't have to concede to the Revenue's demands on a purely commercial basis.
As an additional benefit, all business clients who subscribe to our service also have 24hour access to a Business Legal Helpline; this is a valuable service available to subscribers at no additional cost. This helpline is manned by over 70 specialist lawyers who can provide advice on Employment Law, Health & Safety and Commercial issues.
By subscribing to the service you will benefit from costly tax enquiries which can take several years to settle. In 2008/2009, HMRC collected an additional £12billion through compliance activities and all taxpayers are at risk.
For more information on this scheme, please do not hesitate to give us a call.
Provision of Services Regulations 2009.
In accordance with the disclosure requirements of the Provision of Services Regulations 2009, our professional indemnity insurer is Brit Insurance Limited of 55 Bishopsgate, London EC2N 3AS. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.
PAYE Late Payments Penalties.
From 6th April 2010, penalty charges will apply for late monthly and quarterly PAYE payments depending on the number of times these are late in the tax year.
1 x late = No penalty (as long as less than 6 months late).
2-4 x late = 1% penalty.
5-7 x late = 2% penalty.
8-10 x late = 3% penalty.
11 or more x late = 4% penalty.
The penalty applies to the total amount that is late in the tax year (ignoring the 1st late payment in that tax year). For more information, please do not hesitate to give us a call.