As a valued MJB Avanti client we wanted to make you aware of Vantage fee protection insurance.
Each year HM Revenue & Customs (HMRC) undertake an enormous number of tax enquiries into individuals and businesses to check they have paid the right amount of tax. Since 2010 HMRC have strengthened their approach to enquiry work by using wider powers and sophisticated software and consequently secured a record £36.9 billion of additional tax revenue in 2019/20, up a further £2.8 billion on the previous year.
Moving forwards, we expect to see an even greater increase in the number of tax enquiries as HMRC look to recover the enormous £350bn government spend through the Covid-19 pandemic, as well as ensure that the measures put in place to support the economy through this period have been utilised correctly by taxpayers.
Tax enquiries can last for months, even years and defending you against HMRC’s detailed questions requires specific expertise and can be time-consuming and costly. Indeed, the cost of dealing with an enquiry can amount to thousands of pounds, even if no extra tax is payable.
You can protect
Our normal annual fees do not cover the additional professional costs of handling tax enquiries and compliance checks. We therefore strongly recommend that you are protected against such unexpected costs by subscribing to our Tax Fee Protection Insurance service. You can view a sample Summary of Service here http://www.vantagefeeprotect.com/summary-of-service/.
As an additional benefit, this protection provides complimentary telephone access to employment, health & safety and general legal advisors, including support for employers with any adjustments made in response to the Covid-19 pandemic.
For more information, please see the enclosed Leaflet explaining why the service is needed and the benefits.
What you need to do
The service commenced on 29th September 2021.
If you have any questions about the Tax Fee Protection service, please call us.
Please contact emma-louise@mjb.co.uk if you would like more information.