Tax Enquiry Protection for Doctors
HMRC have got all medics in their sights!
HMRC generally consider doctors to be a high risk occupation in terms of missing tax income. They focus on limited companies and carefully check compliance with the ‘off –payroll’ working rules IR 35.
They are concerned by the use of ‘Contractor Loan’ schemes and scrutinise carefully business expense claims after tax cases such as ‘Samadian’. HMRC are also now trying to assess doctors for VAT.
Even if HMRC find nothing due, there are still costs you would need to pay
If the HMRC launches an investigation into your tax affairs then even if the end result is that no extra tax is payable, there will still be significant additional costs to meet. Just responding to the enquiries takes time and expertise
How can I protect myself against a tax investigation?
We recommend that all our medical clients take up our Tax Inquiry Protection insurance.
This insurance takes care of the cost of a tax investigations by meeting the professional fees which are incurred in any tax investigation.
If you have a tax investigation, we will deal with the matter from the initial enquiry through to resolution and ensure that the outcome is as favourable as possible.
Please contact us for details of this insurance.