Tax investigation insurance – protect yourself from increasingly high levels of HMRC enquiries
The Alexander & Co client’s tax investigations service, offering tax investigation insurance, begins for the 2025/26 tax year on 1 April 2025.
As a result of ongoing investigation activity by the HMRC, we recommend clients consider the benefits of this service. Please contact us to discuss this with us.
Increased focus on tax investigations by HMRC
In the financial year 2023 to 2024, HMRC generated total tax revenue of £843.4 billion (HM Revenue and Customs Annual report and accounts 2023 to 2024). This is an increase of £29.4 billion (or 3.6%) from the previous year. it continues the upward trend of recent years.
This trend is likely set to accelerate. It was recent announced that 5,000 new compliance staff will be recruited over the next five years. (200 started training in November 2024 alone). Clearly there is a renewed focus on the correct tax being paid to the Exchequer. The result of this is more individuals and businesses are likely to face tax investigations.
An average HMRC tax enquiry can take up to 24 months to resolve. An individual or business could end up having to agree to HMRCs calculations. This could mean a much higher tax bill if you aren’t able to pay for professional advice defending an investigation. Tax protection insurance can offer this. Even if you have done nothing wrong, you may still be selected for a detailed review of your tax affairs. This may result in an unnecessarily high tax bill if you are not protected.
Tax investigation Insurance
Alexander & Co partners with Markel Tax, who have an excellent reputation within the accountancy profession, to offer a market-leading tax investigations service. This can cover accountants fee protection relating to a tax investigation. Whether it is a cross-tax enquiry, a technical challenge or a detailed books and records review, our tax investigations package is designed to achieve the best possible result for you. It can also cover IR35 insurance.
To subscribe to our tax investigations service, you must be a client. If you have any questions regarding this tax insurance, please contact us in your usual way.
Please see the service summary for further information and terms and conditions which can be reviewed here. Additional information on the service can also be found here.
Contact alexander & Co for expert tax advice
Alexander & co offers an award-winning comprehensive range of tax and accountancy services for both businesses and individuals.
With offices in Manchester city centre and London, our tax accountants are ideally placed to advise and assist individuals and businesses across the UK.
To contact a corporate or personal tax advisor to discuss our services, email info@alexander.co.uk. Alternatively, you can complete our online enquiry form or call one of our offices on either 0161 832 4841 or 0207 167 7220 and we will be in touch.
