Tradespeople will be the focus of a new campaign aimed at flushing out tax evaders, HM Revenue & Customs (HMRC) has revealed.
Building on previous campaigns which targeted plumbers and electricians, the tax authority will now turn its attention to those in the construction sector, including roofers, bricklayers, joiners, window fitters and carpenters.
As with previous campaigns, individuals will be given the opportunity to disclose any unpaid tax in return for favourable settlement terms. Those who do not come forward by the deadline will face higher penalties thereafter.
HMRC will also focus on people who fail to complete tax returns, particularly higher-rate taxpayers, as well as those who receive an income from buying and selling goods directly to others, such as on the doorstep.
‘We are offering all the people targeted the opportunity to come forward,’ said Marian Wilson of HMRC.
‘Penalties will be higher if we come and find people after the opportunity. A criminal investigation may also result. I therefore urge them to disclose unpaid tax voluntarily.’
HMRC also confirmed its intention to target those who trade on e-marketplaces such as ebay.
Gary Ashford, of the Chartered Institute of Taxation, said: ‘These campaigns are a real statement of intent from the Government.’
If you’re a sole trader, or a small to large company requiring help with any tax advice or planning for your business, why not give us a call on +44 (0)20 8861 7575 to see how we can help boost the performance of your business – and improve your bottom line!