Tax Health Plan (THP) for Medical Professionals with understated income

HMRC are obtaining information from various sources, including NHS trusts, private hospitals and medical insurers and will pursue those with undeclared tax liabilities who decide not to make a disclosure by 31 March 2010.

Whilst those who voluntarily contact HMRC by 31 March, make a full disclosure and qualify under THP are assured by HMRC they will be able to put their tax affairs in order simply and benefit from the certainty of a reduced 10 per cent penalty.
THP is the first initiative in a new HMRC campaign focused on professionals and will operate in two stages:

• Up to 31 March 2010, medical professionals can register their intention to make a voluntary disclosure

• By 30 June, those who have registered must have made their disclosure as well as arrangements to pay all tax interest and penalties due.

Please contact us for expert advice and support if you think you may benefit from the Tax Health Plan.