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HMRC campaign deadlines approach for electricians and online traders. Pearson May News Update - Wednesday 9 May
Pearson May news blog
- Corporate insolvencies on the rise while personal insolvencies fall
- HMRC campaign deadlines approach for electricians and online traders
HMRC campaign deadlines approach for electricians and online traders
The deadlines for HMRC's latest tax campaigns for electricians and online traders are approaching.
The campaigns offer a 'window of opportunity', where those in the group specified may come forward and disclose any income that HMRC is not aware of.
Previous campaigns have targeted plumbers and have resulted in arrests, as those who do not come forward are further investigated by HMRC.
Details of HMRC's current campaigns are as follows:
- Electricians tax safe plan - electricians who have not yet told HMRC they have started working for themselves, or have undisclosed income must notify HMRC of their intention to participate in the campaign by 15 May 2012. After disclosure, tax owed must be paid by 14 August 2012.
- E-marketplaces campaign - those trading online who have not disclosed all income to HMRC have until 14 June 2012 to notify HMRC of their intention to participate. Tax owed must then be paid by 14 September 2012.
Those who choose to participate in the campaigns may only have to pay for a maximum of six tax years, may tell HMRC how much penalty they should pay, and may be able to pay what is owed in instalments.
Future campaigns currently being planned by HMRC include a Direct selling campaign, targeting those that sell directly to consumers but away from a retail shop - often in their own homes; a Missing returns campaign, aimed at those that have been sent an income tax self assessment form but have failed to submit it; and a Trades sweep-up campaign focussing on those in the home improvement industry that were not targeted with the plumber or electrician campaigns.
Please contact us if you have any queries or concerns regarding HMRC's campaigns.
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