By Daniel Hunter
Tutors and coaches have nearly a month left to tell HM Revenue and Customs (HMRC) about tax that they owe and arrange to pay the tax, interest and any penalties due.
Under the terms of the Tax Catch Up Plan, launched in October 2011, tutors and coaches had until 6 January 2012 to come forward and tell HMRC of any irregularities in their tax affairs. Those who notified their intention to take part now have until 31 March to pay what they owe.
“It is always better to come to us rather than wait for HMRC to come to you. People who tell us about the tax they owe using this opportunity will pay a lower penalty than if we find them later," Marian Wilson, head of HMRC Campaigns, said.
“Those who owe tax and have not come forward should do so now. We have started analysing the information we hold and will begin the process of contacting them from April. They may not receive the same terms as those who notified us by 6 January, but terms will still be better than when we catch up with them.”
HMRC has gathered information and intelligence for the campaign and from April 2012 will use this to identify tutors and coaches who should have come forward under the plan, but chose not to. Those HMRC catches up with will face the possibility of substantially higher penalties - up to 100 per cent of the tax owed - and even criminal investigation.
To make arrangements to disclose and pay, go online at http:/www.hmrc.gov.uk/ris/tcup/notify.htm or ring HMRC on 0845 601 8817.
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