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Tax deadline nears for health professionals
by Susie Hughes at 12:37 04/03/14 (News on Business)
The taxman has warned health professionals such as physiotherapists and psychologists, many of whom operate on a freelance basis, that they are running out of time to bring their tax affairs up to date on the best terms possible under a campaign.
More than 180,000 people working across the health sector were given the chance to take advantage of the opportunity being offered under the Health and Wellbeing Tax Plan, launched in October 2013, to get their taxes in order.

HMRC has sent up to 1,000 letters to people it has identified as having outstanding Self-Assessment returns for any of the years between 2009-10 and 2011-12. With the typical 'carrot and stick' approach, HMRC warns that it will use ' sophisticated software to identify and contact those who could owe tax' if they do not come forward voluntarily.

People affected had until the end of 2013 to contact HMRC and tell them that they want to bring their tax affairs up to date. They now have until April 6, 2014 to make the disclosure and pay what they owe.

The initiative is the latest campaign to be launched by HMRC to make sure tax is paid. It builds on earlier voluntary campaigns, which have already raised £552 million from voluntary disclosures, by offering terms and time for people to put things right, pay the tax they owe and put their tax affairs in order for the future.

In 2010, the Medics Tax Health Plan campaign, focused on doctors and dentists, resulted in over 1,500 tax disclosures, with a combined value of £10.5 million. To date, the campaign has generated over £54 million from customers HMRC has followed up directly and up to £100 million from its wider impact on taxpayers.

Now HMRC says it is giving the wider health professionalsí community a similar quick and straightforward chance to take advantage of the best terms possible when they bring their tax affairs up to date.

Among those able to fall under this scheme are physiotherapists, occupational therapist, chiropractors, osteopaths and chiropodists and podiatrists. Alternative medicine professionals such as homeopaths, dieticians, nutritional therapists, reflexologists and acupuncturists can also come forward to avoid tougher penalties, as can psychologists, speech and language therapists and arts therapists.

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Susie Hughes © Shout99 2014

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