News: August 2012
New HMRC campaigns
As always, these campaigns are aimed at encouraging people to come forward about any previously undeclared income, promising that such action will result in a far lower penalty than if HMRC come knocking on their door.
The Tax Return Initiative is aimed at 40% and 50% taxpayers who are required to complete a tax return for 2009/10 or earlier but have not yet done so. The campaign started on 3 July 2012 and will run until 2 October 2012, by which time any unpaid tax needs to be paid.
The Direct Selling Campaign is aimed at businesses that sell products to customers away from a retail shop, often in the customers’ own homes. This could involve a party, door-to-door sales or simply selling to friends or relatives. Importantly, this campaign will not apply to those selling financial products.
Finally, the Trades Campaigns – Home Improvement Sweep Up is the third campaign focusing on the home maintenance sector, following the Plumbers’ Tax Safe Plan and Electricians’ Tax Safe Plan campaigns. This ‘sweep up’ will focus on individuals working in a variety of skilled trades such as roofing, window fitting, carpentry, bricklaying and joinery.
Specifically, the campaign is intended to encourage such individuals to come forward about any unpaid tax and thus bring their tax affairs up to date, using a straightforward yet time-limited opportunity.
If you know anybody with tax issues within these sectors, a referral to us will be much appreciated.