HMRC has said the rollout of Making Tax Digital has, despite parts of the programme being delayed or suspended, thus far generated £223m in extra tax revenues – a figure which HMRC believes will double within the next 12 months.
HMRC is quoted by Civil Service World:
"We haven’t achieved everything we wanted to yet.
There are a number of reasons for this. Some of our assumptions were over-ambitious, and our original plans pushed the limits of what we were able to do, in terms of technology and capacity, in the timeframe we wanted.
Preparations for Brexit placed additional new demands on our project delivery capacity, and we simply didn’t have the resources to do everything we had planned.”
Tax does have to be taxing.
Tax Investigation Insurance
Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.
You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.
Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.
A Solar Protect policy will enable your Accountant (your tax return agent) to:
- Deal with any correspondence from HMRC
- Attend any meeting with HMRC
- Appeal to the First-tier Tribunal or Upper Tribunal
- Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
- Premiums are Annual Premiums.
- Premiums are inclusive of 12% IPT.
- Premiums and IPT are due in full in advance / at commencement of scheme.
- There is a NIL excess on all policies.
Please click here for details.
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