HM Revenue & Customs have decided to offer a “disclosure opportunity” to those engaged in the plumbing and heating business. I have been asked recently why the government would do this! I could think of a few unprintable answers to this but a number of amnesties have been offered in the past few years to different areas of business and relating to specific areas of income.
The problem HMRC have is that the whole system of Self Assessment is based on the notion that people tell HMRC the truth about their income and work out their own tax liabilities based on that income[Content protected for Basic members only. Please login or register to read the rest of this post.]