HMRC has announced that electricians will be the next group targeted as part of its crackdown on tax evasion.
The Electrician’s Tax Safe Plan will be launched in February 2012 and will offer favourable terms for electricians to come forward and declare their unpaid tax. Following this, HM Revenue & Customs will target those in the trade who have not come forward.
This campaign follows the Plumber’s Tax Safe Plan launched in 2011. From this
campaign, over 600 voluntary disclosures during the campaign brought in £328,000 to the Exchequer. The second stage of the campaign, targeting those who had not come forward voluntarily – resulted in five arrests and investigations opened into a further 600 people.
It is widely believed that with this new plan we will see HMRC using more Section 16 notices over coming months to obtain further information prior to the plan going live in February next year. Following the resulting arrests and investigations opened in the second stage of the Plumber’s Tax Safe Plan, it would seem wise that Electricians come forward and use the opportunity of voluntary disclosure, if they have undeclared income, whilst favourable terms are offered.
Read more at Accountancy Age