
HMRC's latest campaign is targeting taxpayers with income from providing private and/or self-employed tuition and coaching as a main or secondary income on which the correct amount of tax has not been paid. Taxpayers have until 6th January 2012 to tell HMRC of their intention of making a disclosure about any unreported income they have received and they must pay the tax on what they owe by 31st March 2012.
After the deadline of 6th January 2012 has passed, HMRC will use information from an extensive range of sources to identify those who have failed to come forward and notify their intent to make a full disclosure. Those who are identified will face substantial penalties or even criminal prosecution.
If you have any questions or concerns, please speak to your usual Rowley's contact on 0116 2827000.