If you are working in the electrical industry, have not told HM Revenue & Customs (HMRC) about all your income and now want to get your tax affairs back on track, use the Electricians' Tax Safe Plan (ETSP).
An electrician is classed as anyone who installs, maintains and tests electrical systems, equipment and appliances under stringent safety regulations. ETSP is basically a 'fresh start'. You can stop worrying about what might happen when HMRC find out that you've not been telling them about all of your income. It's a chance to start getting things right from now on, whilst knowing exactly how much it's going to cost to sort out things for earlier years. If you take part in this campaign and tell HMRC about any income that you haven't previously disclosed:
- you may only have to pay for a maximum of six tax years
- you can tell HMRC how much penalty you should pay
- you may be able to pay what you owe by instalments.
You first need to decide if you are eligible under the current campaign. You then have a window of opportunity to voluntarily put your tax affairs in order and pay what you owe. If you are eligible you should make a notification before you tell HMRC about your undisclosed income. The deadline for notifications for this campaign is 15 May 2012.
HMRC campaigns of this type focus on different work sector groups and have time limits for making notifications, disclosures and payment. If you intend taking part, you need to do this within the time limits for your campaign. There are no other current campaigns accepting notifications. If your undisclosed income is not covered by a current campaign you cannot use this opportunity and must phone the Campaigns Voluntary Disclosure Helpline on Tel 0845 601 5041.