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Since 2007, HMRC campaigns have collected over £596 million of tax from people using the opportunities to voluntarily declare previously undisclosed income and settle outstanding tax liabilities. A further £338 million has also been raised through a large number of follow-up activities together with a number of criminal investigations and convictions with custodial sentences for cheating the public revenues.
The latest campaigns include:
The Credit Card Sales Campaign is aimed at individuals or businesses that accept credit or debit card payments. It offers them an opportunity to bring their tax affairs up to date. As HMRC have access to information on all debit and credit card payments, they could use this information to identify those that may not be declaring all of their income.
The Second Incomes Campaign offers employees who have not declared additional untaxed income a chance to pay the tax they owe. Examples include: consultancy fees, providing training, organising parties and events, providing services such as taxi driving, hairdressing or fitness training.
Please contact us if these matters raise any concerns so that we can advise you.
Why not contact Wilkes Tranter & Co Limited today for more information or a FREE no obligation quote.
Chancellor Rishi Sunak has announced a new £4.6 billion package of grants to support businesses through the latest national lockdown.
Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (CJRS) until the end of April 2021.
As always, the wellbeing of our staff and clients remains our priority and is at the forefront of our mind when considering our response to the current coronavirus situation. At present our office remains open during normal working hours however we are discouraging face to face contact and are moving to telephone/ e-mail communication wherever possible in an effort to protect ourselves and our clients.
In the absence of face to face meetings, you can contact us as follows:
Please be assured that we will be continuing to offer the best service and advice during this difficult period.
We will continue to closely monitor government advice on the situation and act accordingly.