HMRC have announced their latest campaign to target rule breakers and home in on tax evaders - the Electricians’ Tax Safe Plan (ETSP) campaign.  If you are an electrician and you've not yet told HMRC that you have started working for yourself or you've not disclosed all your income, you can use the ETSP to enable any unreported income to be declared and the related tax paid to. By making a disclosure under the ETSP you may benefit as follows:

• you may only have to pay for a maximum of six tax years
• you can tell HMRC how much penalty you should pay
• you may be able to pay what you owe by instalments

If you owe tax in respect of anything else such as capital gains or rental income you can use the ETSP to tell HMRC about that too and make a full disclosure.

Under the ETSP an electrician is anyone who installs, maintains and tests electrical systems, equipment and appliances under stringent safety regulations.

If you wish to use the plan to bring your affairs up to date you will need to tell HMRC by 15 May 2012 that you intend to make a disclosure and follow this up with a full disclosure and payment of the tax liability by 14 August 2012.

If you think that you have not paid the correct amount of tax or would like advice please contact us.