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What is Tax Fee Protection Service? 

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HMRC tax and VAT investigations can be daunting, disruptive and expensive. BWBCA will assist you to answer HMRC’s questions and to demonstrate you are paying the correct amount of tax. This cost is not included in your regular annual fees.

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Just as you take out contents insurance to protect your home or business, our Tax Fee Protection Service protects you against the unforeseen costs incurred by BWBCA when dealing with an HMRC enquiry.

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Even if HMRC finds no errors, the accountancy costs in dealing with HMRC can still be substantial.

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Requirements

• BWBCA are the tax return agent when the enquiry/dispute commences

• There were no circumstances which existed before you subscribed which you were aware or ought to have known.

• Liability to tax has been notified to HMRC within the statutory time limits

• All reasonable care has been be taken by you to prevent a claim and to minimise costs. You  shall be regarded as having taken all reasonable care if you took suitably qualified professional advice and had been advised in writing that the tax position reflected in your returns (in relation to the issue(s) which is/are the subject of the investigation or enquiry) was reasonable. This will include but is not exclusive to capital gains tax valuations which are obtained prior to a return being submitted to HMRC. BWBCA can not provide valuations.

• You must have given us a full and truthful account of your tax affairs.

• All returns and accounts must be properly prepared. Any failure which can prompt an enquiry or dispute will invalidate cover.

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What’s excluded? 

• Criminal prosecutions and fraud.

• Enquiries that have commenced prior to subscribing to the service.

• Routine compliance work, eg. preparing tax returns or for the cost of reconciling returns. 

• Investigations following a voluntary disclosure made to HMRC of taxes due as a result of the policy holder making an incorrect return (whether or not under an amnesty or Offshore Disclosure Facility)

• Claims where tax returns have not been submitted within 90 days of the statutory filing deadlines unless HMRC accept in writing the reason for the delay

• Any enquiry or dispute arising from or relating to Tax Credits or CIS Gross Payment Status disputes

• The reconciliation of accounts with VAT returns or the reconciliation of CIS returns with P35’s.

• Taxes, fines and penalties, interest, compensation or damages payable

• The cost of obtaining Professional Valuations after a claim has commenced or after your tax return has been submitted to HMRC

• Criminal investigations or prosecutions including those under Section 60 VATA 1994

• Any costs incurred if, either before or during a claim, you:

  • Are or become bankrupt or have filed a petition for bankruptcy or a winding-up petition; or

  • Enter into a Deed of Arrangement with creditors; or

  • Enter into liquidation; or

  • Put part or all of your affairs or property into the care or control of a receiver or administrator; or

  • No longer wishes us to act for you or we cease to act for you.

• Enquiries into the domicile of the taxpayer

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