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HMRC reminder for private instructors
Private fitness and dance instructors have less than one month left to come forward with any undeclared liabilities as part of a HM Revenue and Customs (HMRC) 'tax amnesty'.
The campaign is targeting individuals who currently profit from private tuition or instruction, either as a main or secondary income, on which the correct tax has not been paid.
Launched in October, HMRC's Tax Catch Up Plan is available to people teaching fitness or dance; sports; personal training; musical instruments; and arts.
The campaign requires tutors and coaches to register by 6 January 2012 in order to 'notify' HMRC that a voluntary tax disclosure will be made, with owed tax to be paid by 31 March.
After 6 January, those who haven't chosen to come forward will face an investigation from HMRC using information "pulled together from different sources".
Marian Wilson, head of HMRC campaigns, said: "This is the first step for those with undisclosed income or gains to avoid a full tax investigation and much higher penalties. Contact us before we contact you."
Details: www.hmrc.gov.uk
Image: AISPIX/shutterstock.com
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