Home > Blog > February 2012

Electrician’s Tax Safe Plan

February 23, 2012 by Lyn Lulham

As with an earlier blog advising on the Plumbers Safe Tax Plan, HMRC are now focusing on electricians, investigating tax underpayments and allowing electricians time to come forward to HMRC with any tax irregularities. According to HMRC an electrician is anyone who:

  • Installs
  • Maintains 
  • Tests     electrical systems, equipment, appliances.

Individuals affected must notify HMRC by 15th May 2012 of their intentions to take part either online, by phone or by post.

Disclosure must then be made and any unpaid tax paid by 14th August 2012.

A ‘penalty calculator’ has been provided by HMRC to allow tax payers to calculate the level of penalty due.

Business Record Checks….Update

February 23, 2012 by Lyn Lulham

HMRC have now announced that business record checks are to be suspended until the new tax year 2012/13. From this point forward they will be implementing a new approach to the checks.

This comes after the pilot program of some 2,437 visits up to 4th January 2012 found inadequacies in around 28% of business checks. Additionally a further 11% had issues serious enough for a follow-up visit.

HMRC will continue to visit businesses already booked and also any follow-up visits. New business record checks however, will be undertaken in the new financial year.

Further information will be reported once HMRC confirm the start date of the newly revised business record checks. HMRC have announced that when the program re-launches it will initially be looking at businesses that are considered to be of higher risk of keeping inadequate records.

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