One month for plumbers to come clean on tax

Date: 4th August 2011

Small businesses working in the plumbing, gas fitting and heating industries have just one month left until they can get their tax affairs straight at a discounted penalty rate.

Under the Plumbers Tax Safe Plan (PTSP), plumbers have until August 31st to arrange the payment of any tax they owe but have not declared. They face a penalty rate of between ten and 20 per cent.

The scheme was launched in March and since then, HM Revenue and Customs (HMRC) has been investigating cases where businesses have not come forward.

"We are determined to ensure everyone pays their fair share and, since May 31st, have begun a series of enquiries targeting people in the plumbing industry. More than 600 will be underway by the end of this month, with many more to follow," said Mike Wells, HMRC's director of risk and intelligence.

"We have left the PTSP disclosure route open and I urge anyone with unpaid tax to use it to come forward and avoid potentially lengthy and costly investigations."

So far, more than £500 million has been raised from voluntary disclosures led by HMRC campaigns.

Posted by Jacob Williams