There are solid grounds for targeting doctors and dentists who have not declared all their income, according to HM Revenue and Customs (HMRC).
Speaking in London last week at a roundtable discussion about HMRC’s Tax Health Plan (THP), permanent secretary for tax Dave Hartnett said: “A common feature of all our campaigns is that they address a sector or a group where there is a serious tax risk.”
Under the THP, which was announced in January, doctors and dentists who have failed to disclose all their earnings have until 31 March 2010 to notify HMRC that they wish to make a disclosure. They then have a further three months to 30 June to submit it their disclosure and make full payment.
If they do this, the tax penalty they face is just 10% of the amount of tax owed. If they do not take the opportunity offered under the THP, Mr Hartnett said HMRC would go after the individuals concerned across the country, using the information that it holds about them.
Hartnett said: “We’ve risk assessed doctors and dentists and we’ve found there is a material level of non-compliance in various ways”. He added that HMRC had obtained data suggesting that the problem for this group was bigger than it had first thought.
Read more at Healthcare Republic.
