Last chance for tutors and coaches to catch up on tax
HMRC has warned private tutors and coaches that they have less than one month left to notify them of any tax owed.
In the latest round of tax avoidance initiatives from HMRC, tutors and coaches teaching traditional academic subjects, fitness and dance, musical instruments, art, life coaching, personal training and other instruction are being offered the Tax Catch Up Plan.
Launched in October, the plan is aimed at those who make a profit from tuition and coaching as a main or secondary income, on which the correct tax has not been paid.
Registration for participation in the plan is open until 6 January 2012, and those that do will then have until 31 March to disclose what they owe and make arrangements to pay.
Commenting, Marian Wilson, head of HMR campaigns said: “Tutors and coaches who have notified us of their intention to disclose unpaid tax will have until 31 March to tell us what they owe and make arrangements to pay.
“From January we will use the information at our disposal to investigate tutors and coaches who have not declared their full income. I therefore strongly urge anyone in this group who thinks they may have outstanding income tax liabilities to get in touch with HMRC and get their tax affairs in order.
“This is the first step for those with undisclosed income or gains to avoid a full tax investigation and much higher penalties.”