Cobhams News Area

Please browse our full archive of news is stored below:

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Private Tutors Targeted

Private tutors who have not disclosed this income to HMRC have until 6 January 2012 to come clean. The initiative is not only for tutors with a teaching qualification but also for example fitness and dance instructors, life coaches etc. Taxpayers who come forward by the deadline are likely to receive the best possible terms for paying the tax owed and a lesser penalty than would otherwise be the case.

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VAT Campaign

Should you be VAT registered and have not done so? If yes then you could shortly be getting a letter from the VATman. On an initiative announced in July 2011 over 40,000 letters will go out to traders who have turnover in excess of 73K but who are not registered. In addition to VAT they will be invited to disclose any other tax arrears. The carrot? A lower penalty than normal. The stick-substantial penalties and even criminal prosecution for those who fail to come forward. This disclosure window will close on 30.9.2011.

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Plumbers, Heating Engineers & Gas Installers

If you are self employed have you told the taxman?
Have you declared all your income on your tax returns?
If the answer is no to either of these questions then you have an opportunity to come clean by taking advantage of the Plumbers Tax Safe Plan (PTSP).

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Offshore Funds and HMRC Disclosure

If you have offshore assets and want to come clean to HMRC then you may be able to make use of the Liechtenstein Disclosure Facility (LDF). The disclosure window lasts until 31.3.2015.

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NIC Holiday

In the Budget in June 2010 it was announced that an NI break would be given for new businesses starting up between 22.6.2010-5.9.2013. .

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Montpelier Group

If you have ever used a tax scheme marketed by the above-beware! On 29.9.2010 the Inland Revenue raided two of the offices of this company. A senior partner has been arrested and a number of files have been seized. If you need advice on what to do, contact Cobhams..

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The Sheriffs Office

Have you ever heard of this? We hadn’t but will certainly be using it in future. We have put debts into the Small Claims Court in the past, have had no problem getting judgement but have had difficulty in actually enforcing this.

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