Plumbers be aware!
H M Revenue & Customs have announced the details of their latest “amnesty;” this time the amnesty is aimed at people working within the plumbing industry. This includes heating and gas installation trades and “anyone who installs and repairs pipes and fixtures for water, drainage or gas systems in a building.”
The terms of the amnesty mean that if you provide H M Revenue & Customs with details of previously undeclared income, then you will face reduced penalties. Not taking advantage of this scheme may lead to penalties of up to 100% of any tax unpaid. The exact level of penalty under the scheme has not been disclosed.
If you have income (or expenditure incorrectly claimed) which has not been declared to H M Revenue & Customs, we would strongly recommend that you contact Victoria Bishop, or the partner you normally deal with, for a private, confidential chat on 01900 603623 or email@example.com.
To take advantage of the scheme you must contact Victoria Bishop by 15 May 2011.
Although the “amnesty” specifically targets the plumbing industry we would strongly recommend everybody to contact Victoria Bishop if there is anything at all about your tax affairs which has not been disclosed to H M Revenue & Customs, as penalties for non declaration are severe.