HMRC annouces new campaign aimed at medical professionals
HM Revenue & Customs (HMRC) have now publicly published details of their Tax Health Plan (THP). The strategy aimed at medical professionals is offering an opportunity for those with undisclosed tax liabilities to come forward and settle their affairs with the benefit of a fixed penalty.
Until now motor and travel expenses have been the primary risk areas identified by the HMRC but the emphasis is now changing to undeclared commission and fees from medical insurers. HMRC has already issued formal notices to BUPA, Sun Life and other institutions to identify enquiry cases.
Medical professionals have until the 31 March 2010 to register their intention to disclose with the disclosure having to be completed and paid before the 30th June 2010. HMRC will pursue those with undeclared tax liabilities who decide not to make a disclosure.
Wellden Turnbull urge medical professionals affected to make a disclosure as penalties could be up to 100 per cent of the tax due and in exceptional circumstances criminal investigations may be considered.
If you would like to know more about this or other HMRC campaigns please call Wellden Turnbull on 01932 584 787.
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Wellden Turnbull LLP is a member of the UK200 Group and is at www.wtca.co.uk and can be contacted on 01932 868444
For further enquiries please call Katie Smith on Tel: 01932 584787 or email k.smith@wtca.co.uk