HM Revenue and Customs (HMRC) has launched its Electricians Tax Safe Plan, targeting electricians, as part of its national “grab for cash” from small businesses.

Local tax specialist, TaxAssist Accountants said: “Local electricians have been warned to expect a letter in the post after HMRC announced that the tradesmen were to become the next focus in their bid to reduce the tax gap – the difference between tax raised and what they think is owed.

“It is not just those who deliberately don’t tell HMRC about something they should have paid tax on who should be concerned, HMRC will also be looking for electricians who make mistakes in the amount of tax they pay – even though they have taken reasonable care.”

The Electricians Tax Safe Plan is the second part of a campaign aimed at trades people.  The first targeted plumbers and heating engineers and has led to ten arrests and thousands of investigations.

Under the Plan, electricians can come forward at any time between 14 February and 15 May to tell HMRC they want to take part. Once they come forward, they have until 14 August to make their disclosure and arrange for payment. If they make a full disclosure, most face a penalty rate of only 10 per cent, with a maximum of 20 per cent.

After 15 May, using information pulled together from different data sources, HMRC will investigate those who have failed to come forward and have warned that investigations could lead to substantial penalties or even criminal prosecutions.

TaxAssist Accountants have many offices, based all over the UK providing tax and accountancy advice and services purely to small businesses.

ENDS

For more information please contact Katie Hayes on 0113 307 0113 or email katie.hayes@mcgpr.co.uk

Notes to Editor:

• TaxAssist Accountants is the largest national network of independent accountants working specifically for small business

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