Plumbing sector urged to 'tighten up tax affairs'

Date: 1st March 2011

Small businesses operating in the UK's plumbing sector have been warned by HM Revenue & Customs (HMRC) to improve their handling of their tax affairs.

This could encourage a number of workers to seek the advice of a specialist tax accountancy service like TaxAssist Accountants in order to make sure their books are in order.

HMRC has revealed that plumbers, gas fitters and heating engineers are set to be targeted by tax authorities as part of a new crackdown on tradespeople who fail to declare their earnings and pay their taxes.

Those yet to pay are being offered a reduced penalty rate of between ten and 20 per cent if they disclose their earnings before May 31st.

Mike Wells, HMRC's director of risk and intelligence, said: "Our aim is to make it as easy as possible for plumbers to come forward, make a full disclosure and benefit from a reduced penalty.

"We will be using various intelligence sources to target plumbers who have not declared their full income. I strongly urge any in this group who think they may owe tax on their income to get in touch with HMRC and get their tax affairs in order simply and on the best available terms."

Posted by Emily Smith