UK Taxman after Dentists’ offshore money!

Her Majesty’s Revenue & Customs has just announced a press release. In it they state that they want Dentists, Doctors and other Health professionals to come forward with details of any undeclared income. Dentists and others in the Health sector will have until 31 March 2010 to make a voluntary disclosure .

The ‘Tax Health Plan’, is looking to find cash and unpaid taxes in offshore bank accounts.

HMRC had this to say:

“Our aim is to make it as easy as possible for people to come forward, make a full disclosure and benefit from the certainty of a reduced 10 per cent penalty that HMRC is making available to those who qualify for this opportunity,” said Mike Wells, HMRC’s Director of Risk and Intelligence. “This is the first step in enabling those with undisclosed income or gains to avoid a full tax investigation together with much higher penalties.”

They are using a couple of tactics. If you reveal any unpaid tax you may only have to pay 10% back. If you don’t come forward, then you may have to pay 100%  of unpaid tax. Now of course we at DentistJob.co.uk know all our readers and subscribers are fully paid up law abiding citizens! So you need not worry!

Thing is, ‘Hector the Taxman’ has all sorts of things to pay for, Iraq, Afghanistan…………………..