New disclosure opportunity 'not just for plumbers', says CIOT

Date: 2nd March 2011

The new disclosure opportunity announced yesterday (March 1st) by HM Revenue & Customs (HMRC) is for everyone, "not just plumbers".

That is according to the Chartered Institute of Taxation (CIOT), which said the offer to come clean on undeclared tax seems to open to all.

HMRC announced that plumbers, gas fitters and heating engineers will benefit from reduced penalties if they declare their income and unpaid taxes by May 31st.

However, the CIOT has found that people working in other sectors can expect "broadly the same treatment" if they too come forward about their tax affairs.

Gary Ashford, chair of the CIOT's management of taxes sub-committee, commented: "Despite the focus on plumbers, HMRC have today effectively announced a general disclosure facility open to anyone with tax irregularities.

"This is a positive move. A general arrangement available to all is sensible and something the CIOT has been calling for some time."

Posted by Jacob Williams