The HM Revenue and Customs (HMRC) has started a new campaign to ‘help’ bring the tax affairs of retailers up to date. It is directed at those who accept credit or debit card payments but haven’t declared all their UK tax liabilities.
If you are affected, DON’T WAIT till you’re caught. Consider making a voluntary disclosure within the campaign period in order to get favourable terms, penalty-wise.
Disclosure can be made via:
1. Filling in a notification form*
2. Calling the Campaign helpline on 0300 123 9272
3. Filling in a disclosure form and paying what is owed.
*Note that you’ll have 4 months to pay what you owe from the moment HMRC acknowledges your notification.
If you need help liaising with HMRC, feel free to get in touch but please be aware that my time isn’t free.