Plumbers Tax Safe Plan

T.C.
T.C. Registered, Tutor Posts: 1,448
in General accounting discussion
What is this all about? An amnesty for plumbers???? Why are HMRC picking on them and do we really need to do anything? Opinions very welcome.

Comments

  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 🎆 🐘 🎆
    Plumbers are often VAT registered due to high cost of sales and unless they are commercial plumbers their customers are mostly private individuals. Therefore it's easy for plumbers to take cash in hand payments, especially as VAT has gone up again and people are trying to save money.

    That is why they are doing it, as I understand it. And HMRC will be more lenient with any disclosures where people have underdeclared or whatever if they do it under this amnesty.

    We can always use it as an advertising opportunity to put them on the straight and narrow and then retain a new client!
  • T.C.
    T.C. Registered, Tutor Posts: 1,448
    I know a few plumbers and I am sure they would not wish to come forward with any information! Still think it is unfair to pick on just one trade though!
  • Jan
    Jan Registered Posts: 654
    There was a local accountant on the radio this morning and she was saying it appies to anyone in the building trade, if they want to come clean!
  • Rinske
    Rinske Registered Posts: 2,453
    They are doing group by group tho, surely they did medical practitioners recently and I'm sure after these, they will find someone else to pick on.
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    I thnk it is because they have got information from Gas safe.

    As Jan says they did medical practitioners with the tax health plan because they had information from somewhere else.

    They're giving them the chance to come clean before they find them out anyway!
  • T.C.
    T.C. Registered, Tutor Posts: 1,448
    I do accounts for a few plumbers and many people in the building industry and I can't think of one of them who would want to come clean and basically "pay some more tax".
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    I think the idea is the Revenue are suggesting that they have the information and giving them a chance to reduce the penalty before they find them out anyway
  • Paul C
    Paul C Registered Posts: 193 🎆 🐘 🎆
    Jan wrote: »
    There was a local accountant on the radio this morning and she was saying it appies to anyone in the building trade, if they want to come clean!

    Here's a good article on it.

    HMRC Answers Questions on The Plumbers Tax Safe Plan -

    http://www.taxationweb.co.uk/tax-art...generally.html

Categories

Privacy Policy