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Electricians' Tax Safe Plan
Electricians have just one week to pay any undisclosed tax that they owe under an HM Revenue & Customs (HMRC) campaign.
Under the Electricians' Tax Safe Plan, electricians can pay any tax and interest they owe, and receive penalties of only 10 per cent. Normally, penalties of up to 100 per cent of the tax owed can be charged, with criminal investigation possible in the worst cases.
The campaign is aimed at anyone who installs, maintains and tests electrical systems, equipment and appliances – and covers any tax owed, for whatever reason.
The deadline for electricians to pay the tax they owe is 14 August 2012.
Marian Wilson, head of HMRC Campaigns, said:
“Electricians who think they owe tax should get in touch today and get their tax affairs in order, easily and on the best terms. If you cannot afford to pay what you owe all at once, don’t worry. Depending on your circumstances, you may be able to spread the payments.
Once the disclosure opportunity closes on 14 August, electricians who have not come forward but are found to have unpaid tax liabilities will face higher penalties, rising to 100 per cent of the tax evaded or, possibly, even criminal prosecution.”
How do electricians let HMRC know that they intend to make a tax disclosure?
The Electricians' Tax Safe Plan is the second part of a campaign aimed at tradespeople. The first targeted plumbers and heating engineers.
HMRC campaigns have so far have collected nearly £510 million from people coming forward to HMRC, and more than £120 million from HMRC follow-up activity, including over 18,000 completed investigations. There are also 23 criminal cases under way; two plumbers have been jailed and another has received a suspended prison sentence.
About The Author
HM Revenue & Customs is the UK's primary taxing authority, responsible for the administration (and collection) of direct and indirect taxes and duties, and certain benefits.
Article Added Monday, 06 August 2012 | 931 Hits