HMRC have announced an amnesty for anyone working in the plumbing, heating or gas industry who has not previously declared all their income.

If this previously undisclosed income is declared before the deadline closes they will be fined just 10-20% of what they owe , rather than up to 70% after the deadline.

To qualify Plumbers and other tradesmen must register by 31 May 2011 and pay any back tax owed plus penalties by 31 August 2011.

The penalty regime is now behavior based:

Careless mistakes will attract penalties of 10%

Deliberately witheld information will attract penalties of 20%.

However be warned, if HMRC discovers the tax underpayment before the Plumber/Tradesman comes clean these penalties will rise to 30% and 70% respectively.

For further information on how we can help and assistance in registering please contact us on 01993 775063.