HMRC Announce Health Sector Disclosure Project

HMRC have this week announced a further disclosure project, this time aimed at members of the medical profession.

In our news item of 14 October 2009, we highlighted HMRCs focus on the medical profession, in terms of enquiry cases being opened and the specific issue of travel expenses claimed by medical practitioners within these enquiries.

This disclosure opportunity is wide-ranging and relates to GMC registered practitioners. Areas such as undeclared business receipts, erroneous business deductions, PAYE, Capital Gains, Inheritance Tax and VAT are all within its remit.

As with the second offshore disclosure initiative, the tax years included run up 2007-08. Intention to disclose must be made by 31 March 2010, with the disclosure deadline following on 30 June 2010.

HMRC guidance can be found following this link:

http://www.hmrc.gov.uk/tax-health-plan/index.htm

We will be commenting in due course on the implications behind the statement made by HMRC regarding possible further disclosure opportunities for different professions.