Admiral Tax understands that plumbers will be the latest sector of the working population targeted by HMRC under the now well publicised tax amnesty procedures.
Readers of the Admiral blog will recall a similar amnesty being offered to those in the medical profession early last year. It is expected that HMRC will continue to use “tax amnesties” across a range of targeted professions given that they have proved to be a very cost effective way of bringing some much needed cash into treasury coffers.
Plumbers Tax Safe Plan
The plumbers’ tax safe plan (PTSF) agreement allows people in the profession and the associated trades to voluntarily disclose their unpaid taxes for the past five years.
Penalties will be 10% for careless errors and 20% for deliberate defaulters.
Anyone thinking of entering the scheme will have until 31 May this year to notify HMRC of their intention to disclose and confirm that they will make arrangements to pay any resultant tax by 31 August.
Information from Corgi
HMRC say that there is evidence that a minority of people in the plumbing and heating profession are not fully disclosing their earnings. The department has obtained data from Corgi and Gas Safe registers to identify those perceived to pose a risk.
An HMRC spokesman said -
“HMRC has used legal notices and new technology to gather and analyse data from industry bodies, tax records, advertising directories and health and safety prosecutions,” he said.
“This detailed information will be used to contact and then pursue people who should come forward and use the PTSP. Anyone HMRC catches up with who could have used the PTSP will definitely face greater penalties than if they came forward, and risk prosecution.”
Contact Admiral Tax
If you are a plumber or heating/gas technician and have concerns regarding your tax affairs then now is the time to come forward.
Admiral Tax have dealt successfully with many disclosures under previous amnesties such as the offshore amnesty, the Liechtenstein disclosure facility and the tax health plan.
A quick call to Admiral will cost you nothing except for your time. Moreover it could save you thousands or worse still the awful prospect of a criminal prosecution.
You can contact Admiral Tax Investigations 24/7 by calling 0845 519 2206 or via email – info@admiraltax.co.uk
