With increasing changes and regulatory updates, businesses may want reassurance that if HMRC comes knocking, they are covered. That's where Professional Fee Protection (PFP) offers owners peace of mind.
Why should businesses consider Professional Fee Protection services?
Tax investigations are on the rise, and HMRC does not need an excuse to investigate your tax affairs. Some tax investigations are chosen at random, but they can cost firms tens of thousands of pounds and take months to complete. For smaller firms, those costs and times can completely freeze progress on other projects.
What triggers HMRC investigations?
Your accounts could be in pristine order and a tax investigation can still occur. However, aspects including unusual fluctuations, undisclosed accounts, and random spending can also trigger a inquiry. In fact, 83% of tax investigations are triggered by HMRC’s ‘Connect’ system.
What does Shorts' Professional Fee Protection services provide?
Clients who have subscribed to our Professional Fee Protection service, which covers professional fees in the event of an HMRC investigation, also have unlimited access to a legal support helpline. The team are fully briefed to help guide you through this difficult period.
Shorts will manage the discussions with HMRC on your behalf, and submit the required information for you as well. The coverage also includes individuals, so alongside the business, the directors, founders, secretaries, etc., so business owners have peace of mind.
What if I already have the cover?
You will require the access code which was provided with your subscriber summary when calling the legal support helpline on 01455 255 269.
If you have not already subscribed, we strongly recommend you consider this for peace of mind that you will not incur any unwanted professional fees in the event of an HMRC investigation and utilise the additional benefit of the legal support helpline.
If you would like to subscribe or require the access code, please contact Steven Strawther for more information.
Please be assured that we are ready to help.
Steven Strawther
I deal with all aspects of personal tax compliance and since joining Shorts I have gained valuable experience in private client advisory and planning opportunities. I have been instrumental in refining the personal tax compliance process and implementing digital solutions to provide clients with an efficient personal tax service.
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