Electricians: The Taxman Wants You

HMRC have announced that they’re coming after electricians in a massive tax drive they call The Electricians Tax Safe Plan (ETSP), starting in February 2012.

To HMRC, an electrician is anyone who installs, maintains and tests electrical systems, equipment and appliances under stringent safety regulations.

If you’ve had any conversations with plumbers who were the subject of a recent Tax campaign, you may have heard various horror stories. What we do know is that HMRC have announced that to date £1.98million has been agreed and paid, nearly a thousand cases have been prepared, and nine plumbers have been arrested.

Worrying stuff.

It’s important to remember

•    HMRC is now responsible for not only tax (self employed and PAYE), but VAT and national insurance.
•    The Tax Safe Plan covers anything from non-declaration of income to over claiming of expenses.
•    The Taxman isn’t just interested in cash you’ve earned through your job: it could be extra cash you’ve made letting out a room or weekend work.

If you have anything you need to tell the tax man, now is the time to do it.

What to do first:

•    Dig out records of all CIS payments, PAYE info (P45, P60 and P11D), benefits letters and details of any other payments
•    Find all your bank statements and get copies if you do not have originals  
•    Gather together all your receipts and invoices
•    Make a list of anything missing
•    Get help from a suitably experienced tax adviser – DO NOT just walk into the tax office yourself.  Let your adviser deal with the Taxman on your behalf.


And then…

Call us on 0800 707 6058. We have years of experiencing of dealing with the tax man. We know the right way to approach HMRC, what they’ll need from you, and having us deal on your behalf takes away a lot of stress and aggravation.

What you mustn’t do is bury your head in the sand. Pretending the problem doesn’t exist may cost you penalties and interest down the line. When they’re serious about something, HMRC can be dogged. They use tracing technology as well as intelligence from sources (a jealous neighbour or annoyed ex-colleague maybe) and once you come to their attention they don’t forget about you.

In addition to unpaid tax and interest, electricians could potentially face penalties of up to 100 per cent. Deal with it before it gets that far and call us now.

And if you find yourself the subject of a tax enquiry or investigation

Visit http://www.taxinvestigationsdirect.co.uk where our tax specialists have years of experience of successfully defending taxpayers under enquiry.