Wednesday, 1 February 2012

HMRC is to focus on electricians...

from next month in order to improve tax compliance.

Contractors working as sole traders in the UK's electrical trade are set to come under increased scrutiny with regard to their tax affairs.

HM Revenue & Customs (HMRC) has announced that it is to target electricians in order to improve tax compliance in the industry.

The department has confirmed that anyone who installs, maintains and tests electrical systems, equipment and appliances under stringent safety regulations will be placed under the microscope of the campaign.
HMRC's move comes as it plans a number of campaigns to crack down on tax avoidance in what it deems to be high-risk industries.

"This builds on HMRC's plumbers' campaign and gives an opportunity to another group of tradespeople to come forward and declare unpaid tax," the department explained.

A number of sole traders working in the industry could now be tempted to seek the help of a contractor accountant in order to ensure that their files are up-to-date.

this is what you get when you introduce more computers and automated system.. lots more tax men (persons) that need to justify their further employment. due to the recent cuts HMRC is now virtually the fattest department, and still extremely inefficient.

Like it or not, you have to pay your taxes. The trouble is that understanding taxation requires more than a genius mind. Even Albert Einstein admitted, "The hardest thing in the world to understand is the income tax." So, if you are wading through reams of paperwork, trying to make sense of all the mumbo jumbo, it's time to take a break. have a kit kat, but make sure you declare it as i am damn sure there is some way the tax man can get a percentage

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