HMRC CRACKS DOWN ON ELECTRICAL TRADE (28/03/12)

Anyone working in the electrical industry with outstanding tax liabilities beware – you could be receiving a letter from HM Revenue and Customs (if you haven’t already done so).

Launched earlier this year, the Electrician’s Tax Safe Plan was the latest in a long line of tax offensives against tradespeople, aimed at buffering HMRC’s coffers.

In its latest missive, HMRC says the Plan “is aimed at people in the electrical industry who have not paid the right amount of tax and who want to put things right”.

It’s also upping the ante to find offenders: from May 16, HMRC says it will use sophisticated computer software to find anyone who has failed to come forward where it thinks they have not paid the right amount of tax.

To take advantage of the campaign, an individual has to notify HMRC of their intention to do so by 15 May 2012.

“This is a simple process and can be done online, by phone or by post,” says HMRC. “At this stage, you only need to tell us that you will be making a disclosure.”
  
Once this has been done, an individual must make their disclosure and pay what they owe by 14 August 2012.

HMRC says it can be contacted to help people pay by instalments over an agreed period.

“By taking part in ETSP, you will be able bring you tax up to date in a straightforward way and minimize any penalty you may have to pay,” it says.

• If you have any questions about this article, or any other tax matters, please contact us on 01227 454627 or email tax@burgesshodgson.co.uk