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Medical professionals on the tax table
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Registration for the Tax Health Plan amnesty has kicked off this week and lasts until the end of March this year.
Any medic who registers their intent to HMRC by 31st March will then have until 30th June to shell out for unpaid taxes.
The government department is urging those who may have taken private consultancy work to come clean about unpaid tax liabilities, but this does NOT relate to income held in offshore accounts.
After paying the tax due on income, gains and any related interest, the majority of those who come forward will only face a penalty of 10 per cent.
Fines of up to 100 per cent and even prosecution are possible for those who don''t.
The HMRC''s message is "contact us before we contact you". If you need help with getting your tax in order, give Excellium Umbrella Services a call for reliable advice.
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Video Transcript
Medical professionals are the latest workers to get a tax amnesty from the HMRC.Registration for the Tax Health Plan amnesty has kicked off this week and lasts until the end of March this year.
Any medic who registers their intent to HMRC by 31st March will then have until 30th June to shell out for unpaid taxes.
The government department is urging those who may have taken private consultancy work to come clean about unpaid tax liabilities, but this does NOT relate to income held in offshore accounts.
After paying the tax due on income, gains and any related interest, the majority of those who come forward will only face a penalty of 10 per cent.
Fines of up to 100 per cent and even prosecution are possible for those who don''t.
The HMRC''s message is "contact us before we contact you". If you need help with getting your tax in order, give Excellium Umbrella Services a call for reliable advice.
