Rachel Reeves recently directed HMRC to intensify efforts against tax avoidance and evasion, aiming to recover £1bn in taxes and increase charges for serious fraud by 20%. While this targets deliberate ‘wrongdoers’, honest businesses, unfortunately, can still be investigated without cause.
For example, one of TC Group’s clients spent just £500 on appropriate tax investigation protection cover – which proved invaluable when HMRC launched an enquiry. It saved them a staggering £30,000 in professional fees and related costs. What could’ve been an incredibly stressful situation was instead handled with confidence, allowing the client to stay focused on their business, and importantly, they were found to have done nothing wrong.
Tax investigations are incredibly stressful and costly for business owners, but thankfully, tax investigation protection cover can ease the burden and provide peace of mind.
📧 For more information and advice, reach out to Jenny McGee, Senior Tax Administrator at TC Group: jennifermcgee@tc-group.com
Author: TC Group
Date: 9 April 2025
Company directors - did you know you can claim up to £300 per tax year in non-cash trivial benefits? Read more.
Author: TC Group
Date: 9 April 2025
HMRC's tightening its grip on how business owners extract profits from their companies, placing traditional remunerations approaches under scrutiny.
Author: TC Group
Date: 27 March 2025
Experts and leaders from across TC Group have cut through the Spring Statement noise and speculation to bring you the key announcements.
