Goodhams Accountants can offer you a Fee Protection Service which covers the cost of work your Goodhams Accountant has to do towards an investigation.
The costs associated with an investigation can be devastating, and even if you are successful in defending yourself against HM Revenue & Customs (HMRC), you cannot recover your costs from the department. But with this service, we feel that you will have peace of mind should you be investigated.
Furthermore, your Goodhams Accountant will be provided with experienced consultants (paid for by the insurance company) to assist through the investigation to make sure it is resolved as quickly as possible using experts.
How can I avoid an investigation by HMRC?
The best route for avoiding an investigation would be to employ an accountant first and foremost. Using an accountant should ensure that your tax return is accurate and complies with the UK tax regime.
Goodhams Accountants also uses specialist software which will analyse the completed tax return to check for anything which may arouse suspicion by HMRC.
HMRC does, however, carry out a number of random investigations which are, unfortunately, unavoidable. So even if you believe that there are no unusual entries in your accounts or on your tax returns, an investigation could still happen to you.