12 days left to register with HMRC’s Health and Wellbeing Tax Plan
Workers in the health and well being professions who have undisclosed taxable income have until 31st December 2013 to notify the HMRC of their intent to disclose and until 6 April 2014 to disclose the details and pay the tax owed.
HMRC’s Health and Wellbeing Tax Plan is a campaign aimed at helping health sector workers bring their tax affairs up to date, particularly where they have not told HM Revenue & Customs about past income, undisclosed liabilities and gains.
Do you work in the healthcare and well-being profession?
If you are a health professional who does register for the campaign before 31 December 2013, this means you will potentially face less or no financial penalties – and investigations – than if you fail to disclose any untaxed income.
The key points are:
- the plan covers professionals working in:
- the physical therapy sector (such as physiotherapists, chiropractors, chiropodists, osteopaths and occupational therapists);
- alternative medicine or therapy – (eg. acupuncture, nutritional therapy, homeopathy, nutrition, reflexology etc);
- other therapy – such as speech therapy, psychology, and arts therapy. This list is not exhaustive and if you are unsure whether this campaign applies to you, please get in touch with us and we’d be only too happy to clarify.
- you have until the end of this year to notify the HMRC of your intent to disclose;
- you have until 6 April 2014 to disclose the details and pay any tax owed;
- if you do not register with the campaign, HMRC will take a much closer look at your tax affairs. So, it is an ideal opportunity for you as a health worker to get your finances in order and keep onside with HMRC – as well as pay less in penalties than if you do nothing.
To find out more, visit: https://www.gov.uk/voluntary-disclosure-health-wellbeing or, get in touch with us today and we can act on your behalf.