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HM Revenue & Custom (HMRC) has said that it will later this year be introducing a tax amnesty for private tutors, coaches, tradesmen and users of online auction sites such as eBay later this year.

As part of the amnesty, those who come clean about any tax they have failed to pay will qualify for better terms than those who are found out and challenged by HMRC.  Although a timetable for the amnesty and the precise concessions to be available are yet to be revealed, it is expected take place during the 2011-12 tax year.

HMRC is targeting these specific groups because it believes that tax is being underpaid in these sectors. It has powerful tools to trawl the internet to identify mismatches between the lifestyle and expenditure of individuals and businesses and what is declared for tax purposes.

The move follows a previous amnesty for doctors and dentists which brought in £10 million in unpaid tax and a similar campaign for plumbers. 

Frenkels Forensics have a wealth of experience in advising clients under investigation from HMRC and also those who want to take advantage of recent HMRC amnesties.  For more information please contact John Frenkel.