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 and
• The Second Incomes Campaign.
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.