Doctors with undisclosed tax problems have been urged to come forward “quickly” after only 1,500 of a potential 30,000 medical professionals took advantage of a tax amnesty scheme.
Earlier this year the HM Revenue and Customs launched its tax health plan (THP) sending letters to 30,000 medical professionals that it believed could have potential problems with their tax.
It said that if doctors come forward voluntarily face they will face a tax penalty of just 10% of the amount of tax owed.
If they do not take the opportunity offered under the THP, doctors could face a maximum of 100% of the tax owed (on top of full repayment of the debt and interest charged on it).
The Revenue is now urging more doctors to come forward ahead of 1 August before full investigations begin.
Read more at Healthcare Republic.
Tags: Tax
