On 10 January 2010 HMRC announced the Tax Health Plan which is similar to the tax amnesties offered to people with offshore bank accounts.
The tax health plan is only open to medical practitioners and will enable them to make a disclosure of any tax evasion with a penalty limited to 10% of the tax due. HMRC have stated that they have contacted various source, including NHS Trusts, private hospitals and medical insurers to obtain details of income paid without the deduction of tax to medical practitioners.
The tax health plan allows medical practitioners to register their intent to make a disclosure of any tax evasion or tax irregularities which have occurred in the last 20 years to 5 April 2008 by 31 March 2010. A full disclosure of all tax evasion or tax irregularities must be made using the approved forms for the tax health plan by 30 June 2010. At this point HMRC will expect all of the tax, interest and penalty to be paid to HMRC as part of participating in the tax health plan initiative.
It is not clear who falls under the category of medical practitioner for the purpose of the tax health plan disclosure initiative but the disclosure requires the participant to put details of the GMC registration number so it is therefore assumed that anyone with who is registered with the GMC can participate.
HMRC have stated in their literature that if the person wishing to participate in the tax health plan has an offshore account which has not been declared to HMRC in either of the two preceding tax amnesties then they cannot take part in the tax health plan initiative.
The tax health plan does not guarantee that the individual making a disclosure will not be prosecuted but HMRC have stated that if an individual takes part in the tax health plan and makes a full disclosure then they are unlikely to face a prosecution for tax fraud unless HMRC believe that the money that is the subject of the disclosure is the proceeds of serious organised crime. Tax evasion would not appear to be counted as a serious organised crime for the purpose of the tax health plan.
HMRC have stated that for those who do not take part in the tax health plan they will start to compare the information that they have received to the tax returns of the individuals from 1 April 2010 and that these people run the risk of a penalty significantly in excess of the 10% offered as part of the tax health plan and may involve prosecutions in the most serious cases.
Although it is believed that there is only a duty to report tax fraud to the GMC if a medical practitioner is prosecuted HMRC have now got powers to name people who are guilty of tax evasion in a public list and it is likely that some medical practitioners who do not take part in the tax health plan will be included on this name and shame list.
How can Gilbert Tax help me?
Gilbert Tax specialise in helping people who have committed a tax fraud or tax evasion and who need help disclosing this to the Inland Revenue in such a way as to minimise their liabilities as far as possible.
Gilbert Tax helped hundreds of people through the perils and pitfalls of the last tax amnesty. For further information about how we can help you in the current tax amnesty (new disclosure opportunity) call us for a confidential free discussion on 0800 734 3333 or e-mail email@example.com now
- Are non- judgemental.
- Rigorously defend your position within the scope and parameters of the law.
- Take control of the investigation.
- Focus on working towards the most cost effective and efficient way to achieve the closure of the tax investigation.
- Encourage you to concentrate on your business and leave dealing with the Inland Revenue to us.
- Pride ourselves on caring vehemently about our clients and that they are treated justly and fairly within the scope of the law
Between the 6 partners and 2 members of staff Gilbert Tax has over 90 years’ experience of tax investigations from both working for HMRC and spending significant time in top accountancy firms tax investigation teams defending businesses subject to Inland Revenue Investigations. Gilbert Tax offer a unique blend of relevant experience at affordable prices.
For a private discussion about how we can resolve your tax investigation and potentially save you money contact us at any time on 0800 7343333. Our initial discussion will be undertaken without charge. Although based in the North of England we have clients all over the country
To find out what some of our clients have said about us please visit out testimonials page.