How the GDPR Claim Back Works A new HMRC ruling concerning GDPR compliance applies to all businesses that have paid tax to the HMRC in the past two years. This can be corporation tax or tax that has been paid through self assessment by sole traders and partnerships. The Ruling The HMRC now allows companies to claim back the last two years of tax as a contingency against a breach of the GDPR regulations. The Legal Argument that has set this precedent. Since May 2018, all UK businesses were required to be GDPR compliant if they obtain, stored and processed personal data. However according to the latest figures nearly 75% of UK businesses are still not GDPR compliant. We suspect that figure is higher. This has placed any company that is not GDPR compliant at risk of a regulatory fine or being sued by clients for not keeping their data safe. This is a real risk! The risk companies now face. The regulatory fine for non GDPR compliance can be 4% of your total company earnings and if one or more of your clients sue your company for not keeping their data safe the payout could be enormous and would put you out of business! This is a fact! Under the companies act companies are required to assess risk and are advised to set a contingent monetary amount aside to mitigate that risk. So every company that is not GDPR compliant must have a have a contingency fund put aside for the very real risk of regulatory fines or litigation due to non GDPR compliance. How does this entitle you to claim back your tax for the last two years? Due to the new ruling, the HMRC now allows companies to claim back the last two years of tax for a contingency fund against a breach of the GDPR regulations. Here is a typical example of a GDPR claim back: Sole Trader/Partnerships 40% Tax Payer Example: £100,000 Profit - Reclaim £40,000 x 2 years = £80,000 Limited Company 19% Corporation Tax Example: £140,000 Profit - Reclaim £26,600 x 2 years = £53,200 We can claim back the last 2 years of tax for you from the HMRC! We offer you a No Win - No Fee Service! To find out if you are eligible for the GDPR Claim Back please call us on 0800 011 2031 Or Contact us by email info@citadelclaims.com and one of our GDPR claim back team will contact you and explain in more detail how our No Win - No Fee service works!
How the GDPR Claim Back Works A new HMRC ruling concerning GDPR compliance applies to all businesses that have paid tax to the HMRC in the past two years. This can be corporation tax or tax that has been paid through self assessment by sole traders and partnerships. The Ruling The HMRC now allows companies to claim back the last two years of tax as a contingency against a breach of the GDPR regulations. The Legal Argument that has set this precedent. Since May 2018, all UK businesses were required to be GDPR compliant if they obtain, stored and processed personal data. However according to the latest figures nearly 75% of UK businesses are still not GDPR compliant. We suspect that figure is higher. This has placed any company that is not GDPR compliant at risk of a regulatory fine or being sued by clients for not keeping their data safe. This is a real risk! The risk companies now face. The regulatory fine for non GDPR compliance can be 4% of your total company earnings and if one or more of your clients sue your company for not keeping their data safe the payout could be enormous and would put you out of business! This is a fact! According to the companies act every UK business needs to have a contingency plan to mitigate risk. So every company that is not GDPR compliant must have a have a contingency fund put aside for the very real risk of regulatory fines or litigation due to non GDPR compliance. How does this entitle you to claim back your tax for the last two years? Due to the new ruling, the HMRC now allows companies to claim back the last two years of tax for a contingency fund against a breach of the GDPR regulations. *Once the funds have been returned it is up to each company to decide how they use the returned funds but we strongly advise that you strengthen your cyber security. Here is a typical example of a GDPR claim back: Sole Trader/Partnerships 40% Tax Payer Example: £100,000 Profit - Reclaim £40,000 x 2 years = £80,000 Limited Company 19% Corporation Tax Example: £140,000 Profit - Reclaim £26,600 x 2 years = £53,200 We can claim back the last 2 years of tax for you from the HMRC! We offer you a No Win - No Fee Service! To find out if you are eligible for the GDPR Claim Back please call us on 0800 011 2031 Or Contact us by email info@gdprclaimback.uk and one of our GDPR claim back team will contact you and explain in more detail how our No Win - No Fee service works!