HMRC Cracks Down On Undeclared Income In The Health and Wellbeing Industry

HMRC is using its Health and Wellbeing campaign to encourage professionals in that industry to come forward. The Health and Wellbeing Tax Plan was a campaign that gave health professionals an opportunity to tell HMRC about income still undeclared and get the best possible terms by making a ‘voluntary disclosure’.

HMRC cracks down on undeclared income in the Health and Wellbeing industry

By volunteering and ‘coming clean’ while there was still a chance, health workers faced lighter penalties than if caught by HMRC first…

Under the Health and Wellbeing Tax Plan, health professionals had until 6 April 2014 to disclose details and pay the tax owed. Those concerned who still haven’t come forward or simply choose to ignore the warning now risk action from HMRC’s specialist taskforce.

Dentists and doctors are not the sole intended targets. Especially in HMRC’s eyeline are physiotherapists, occupational therapists, chiropractors, osteopaths, chiropodists, podiatrists, homeopaths, dieticians, nutritional therapists, reflexologists, acupuncturists, psychologists, speech, language and art therapists – and many others.

It would be very naïve to believe that HMRC won’t take action against tax cheats in the Health and Wellbeing industry. As well as using advanced technological tools, they are known to use information available from third parties and regulatory bodies, including bank, financial institutions and the industry’s own professional bodies, and use it to uncover payment sources yet unspoken for… HMRC’s taskforces can actually visit the selected professionals to examine their records and carry out other investigations.

The Treasury has made £1billion available to HMRC to dedicate resources and manpower in an effort to identify and track down tax evaders. As a result, since 2011, £136 million has already been recouped, with an additional £90 million a year expected from 2014-15.

HMRC’s Jennie Granger, Director General of Enforcement and Compliance, said: “Health professionals have been given every opportunity to take advantage of our quick and straightforward way of bringing their tax affairs up to date. We will now use information we hold from third parties and regulatory bodies to identify people who have not paid what they owe. Penalties – or even criminal prosecution – could follow.”

Anyone who would like to disclose unpaid tax to HMRC can still call the Campaign Voluntary Disclosure helpline on 0300 123 1077.

TaxRefundPro specialise in tax return services for the self employed. So we can help you get your tax affairs in order without you having to pay the taxman more than you should, we recommend you call our experts in strict confidence and without delay for a free no obligation assessment: 0208 137 5773.

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