HMRC’s targeted taskforce and initiatives focus on sectors and regions where they believe tax is being underpaid. We can help you regularise your tax affairs, minimise penalties and make the most of the incentives to come clean.
Over the past few years, HMRC has launched a number of campaigns and initiatives to provide opportunities for people to come forward voluntarily and put their tax affairs in order.
These initiatives and campaigns focus on businesses in sectors where HMRC has intelligence and information to suggest that income is not fully declared, and where tax liabilities have been understated as a result. Other HMRC campaigns are aimed at specific topics or areas where HMRC believes individuals and businesses are not fully compliant.
The campaigns encourage taxpayers to come forward and disclose the irregularities, and then enter into a voluntary disclosure arrangement to regularise matters. They provide a limited timeframe to make the disclosures. Once they close, HMRC will proactively use any information they have to tackle those who have not come forward. This can include, in appropriate cases, launching a criminal investigation.
In the period 2007 to January 2015 (the last published details), HMRC campaigns have collected over £1,006m in revenue, including over £630m from the offshore disclosure facility and new disclosure opportunity.
Examples of some HMRC campaigns include:
- doctors and dentists;
- private tutors;
- sale of second homes;
- let property; and
There are currently four open HMRC Campaigns:
- credit card sales;
- my let property;
- national minimum wage; and
- second income.
The second incomes campaign is aimed at those who are employed and have additional income that is not taxed. Second income can arise from activities such as:
- consultancy fees from training;
- organising parties and events;
- taxi driving;
- making and selling craft items; and
- buying and selling goods.
You can still approach HMRC on a voluntary basis if you fall into one of these areas and have not yet come forward to declare any issues to HMRC, even if the relevant voluntary disclosure facility has closed. You will receive a more favourable outcome than if you wait for HMRC to find you. Our tax investigation experts can assist in this process. Through our contacts we are able to discuss cases with HMRC, initially with anonymity, to agree the most appropriate basis for any disclosure to be made.
To speak with us in confidence about your situation and how our specialist tax and investigation team can help, please call us on +44 (0)800 032 8374.