HMRC's current campaigns
For some years HMRC has run a series of campaigns which are opportunities for taxpayers to come forward and bring their tax affairs up to date. Each campaign is targeted at a specific taxpayer group or type of taxable activity.
There have been no new campaigns launched recently, and most campaigns have now closed, but HMRC has been updating its guidance on the ones that are open. We thought it would be useful to summarise the current campaigns and explain how a taxpayer with arrears – whether or not they fit the terms of a campaign – can contact HMRC to ‘come clean’.
There are three current campaigns. Unlike some previous campaigns, there is no closing date for taking advantage of these.
This is aimed at individual landlords letting out residential property in the UK or abroad who have not declared their letting income to HMRC as income.
This is aimed at employees (yes people who have an employer and whom pay their tax and national insurance through their wages) are resident in the UK but also have additional freelance or self-employed income that they haven’t declared to HMRC via a Self-Assessment Tax Return.
This is aimed at those in business who accept credit or debit card payments but have not declared that income to HMRC.
In all these cases, the taxpayer must notify HMRC and then make a disclosure and pay the tax within 90 days. The taxpayer has to self-assess the tax and any penalties, although each campaign does offer a helpline. HMRC may allow time to pay, depending on circumstances.
Agents can notify and make disclosure on behalf of clients.
Disclosures outside the current campaigns
If a disclosure can’t be made under a current open campaign, you can use HMRC’s online Disclosure Service or telephone the voluntary disclosure helpline on 0300 123 1078.
HMRC notes that if you make a full and voluntary disclosure of all unpaid liabilities, you can usually expect a lower penalty than if HMRC had raised an enquiry or compliance check without the disclosure.
If you want to discuss your situation in confidence get in touch with our senior tax accountant by telephoning 01603 720424 or emailing firstname.lastname@example.org