Nanny Knows Best

Nanny Knows Best
Dedicated to exposing, and resisting, the all pervasive nanny state that is corroding the way of life and the freedom of the people of Britain.

Wednesday, July 08, 2009

Tax Investigation Insurance - Taxwise

Professional Cover Against the Threat of Costly TAX & VAT Investigations

What is TAXWISE?

TAXWISE is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute. The Policy has been designed to combat the costs and inequities of undergoing the ever-increasing number of HM Revenue & Customs random investigations.

Taxwise Coverage

The standard cover provides representation costs by registered accounting practices on your behalf, for up to £75,000 in any one claim, arising from:

-Income Tax Self Assessment full enquiries
-Income Tax Self Assessment aspect enquiries (if this option is selected)
-Corporation Tax Self Assessment full enquiries
-Corporation Tax Self Assessment aspect enquiries (if this option is selected)
-H M Revenue & Customs VAT disputes
-Employer compliance disputes PAYE/ P11D/ NIC
-IR35 disputes
-Now covers business's with an annual turnover of up to £10 million

To find out more, please use this link Taxwise

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  1. Anonymous12:14 PM

    Oh, adverts now? Bye.

  2. Tonk.1:29 PM

    As you know I am not an accountant. Regarding HMRC, does one have to prove innocence or is the main pillar of our justice system, innocent until proven guilty, still adhered to?
    If one is investigated and found innocent, can one claim costs back against HMRC or off set those costs incurred against profits?
    I suspect the latter is not the case otherwise, such an insurance would be pointless!!

  3. Tonk,

    You need to prove innocence.

    wrt costs, if you win HMRC will allow some costs but not necessarily all (I think).

  4. "adverts now"...don't have a cow...there are 1708 posts on this advert won't kill you!

  5. Strange indeed that in a growing number of legal circumstances we have to prove our innocence instead of our accusers proving us guilty.

    Kafka and Orwell must be spinning in their graves!

  6. I think the need to prove innocence has always been the case with the Taxman and perhaps even more so Customs and Excise going back a very long way.

    A friend of mine tells a story from back in the days of the early computer boom years when many companies came and went bust through over trading. He was a director of such a company and did some work for a client just at the time the company was going under. He became unemployed, found alternative employment and a few years later received a tax demand for a few thousand and an emergency tax code. At that time he did not know what all that was about and the tax man would not tell him why they had made the decisions but suggested if he could prove they demand and code were unreasonable they would review things. It was a couple of years before he was able to put the pieces together and work out what IR were referring to. At which point the IR told him to prove that he had not been paid directly. Basically the transaction had slipped between the cracks of the company's accounts as it ground to a halt.

    In the end the IR allowed that he had not received the money and all was settled but not without a few years of aggravation and excessive tax deductions.

    That similar operational policies are gushing into other areas, notably the Law of the land, is of great concern to those who recognise the changes. Of course most don't, being uninterested. How many FPNs will it take to wake them up?

    Nanny as shepherd. A nice docile flock post education and the BBC effect.