Fresh from its recent launch of the Let Property campaign, HM Revenue and Customs (HMRC) has unveiled another new campaign – the Health and Wellbeing Tax Plan – aimed at encouraging health professionals to bring their tax affairs up-to-date and receive the best possible terms.
Each of HMRC’s campaigns is designed to encourage voluntary disclosure of income that has not yet been declared to the tax authority. Those affected are invited to come forward and meet their outstanding obligations before a specified deadline.
The Health and Wellbeing Tax Plan is to run from 7th October 2013 to 6th April 2014; and like many previous campaigns, it has two important deadlines:
31st December 2013 – notify HMRC if you plan to use the opportunity by filing a notification form
6th April 2014 – make the disclosure and pay the outstanding tax plus interest and penalties
Who can take part?
You can report undeclared income under voluntary disclosure if you work in a health and wellbeing profession including:
Physical therapy – e.g. physiotherapist, chiropractor, chiropodist, osteopath, occupational therapist
Alternative medicine or therapy – e.g. homeopathy, acupuncture, nutritional therapy, reflexology, nutrition
Other therapy – e.g. psychology, speech therapy, arts therapy
HMRC offers taxpayers a useful calculator in order to help health professionals to make their disclosure. Similarly, there is an alternative calculator for those who need to inform HMRC about more than five years’ worth of income.
HMRC expects that in most cases, voluntary disclosure will be required going back no more than six years, although it also depends on the taxpayers’ individual behaviour and whether tax returns have been issued for relevant years.
Within its detailed guidance HMRC lists categories of people from whom it may not be prepared to accept disclosures under the Health and Wellbeing Tax Plan.
These include taxpayers for whom an enquiry or compliance check was started before the new campaign was launched this week, and those who were eligible for any previous HMRC disclosure opportunities but failed to use it at that time.
Be sure to call the Health and Wellbeing Tax Plan helpline if you need assistance on 0845 600 4507 or +44 1792 657 324 from outside the UK.