Business News
Lights go out for ‘sparky’ tax evaders!
With HMRC on the prowl to uncover even more individuals and businesses not paying their tax, electricians are the next trade sector to be brought into line with the new Electricians Tax Safe Plan (ETSP).
Starting in February 2012, the ETSP offers an opportunity for those electricians who have not yet declared unpaid tax to come forward and clear any issues and monies owed, following the success of the similar campaign in the plumbing trade. With the current Tax Safe Plan generating over £1.98 million with more to come through once the final disclosures are out through the books, it has been a worthwhile and particularly fruitful exercise for HMRC and one it will look to roll out across many more sectors. HMRC has also cast the net widely on its definition of an electrician or fitter of electrical products, with its website citing that ‘anyone who installs, maintains and tests electrical systems, equipment and appliances under stringent safety regulations’.
Information on the ETSP is still primary, as we do not know as yet if information will come from electrical professional bodies as it did with the Plumbing and Gas campaign, with information coming from Corgi and Gas Safe to assist with highlighting potential tax owing businesses and unpaid tax liability.
There is also no common knowledge as to how reduced penalties and extenuating circumstances will be considered in these situations, and so we will keep this on our radar and update you as soon as the information becomes available to us.
