HM Revenue and Customs (HMRC) has confirmed that private instructors and coaches will have until 31 March to pay any tax owed, in addition to any interest and penalties also due. The deadline is part of HMRC’s Tax Catch Up Plan, which was unveiled last October and is targeting individuals who profit from private tuition, either as a main or secondary income. HMRC has encouraged tutors who teach fitness, dance, sports or musical instruments among others to come forward with any undeclared liabilities as part of a “tax amnesty”.
The campaign required individuals to notify HMRC that a voluntary tax disclosure would be made by 6 January, with payment now due by 31 March. Marian Wilson, head of HMRC campaigns, said: “People who tell us about the tax they owe using this opportunity will pay a lower penalty than if we find them later. “Those who owe tax and have not come forward should do so now. We have started analysing the information we hold and will begin the process of contacting them from April.”
For more details: www.hmrc.gov.uk