The Tax Office “amnesty” of reduced penalties for e-marketplace and e-auction website traders, that started on the 14th March 2012, is drawing to a close. The intention to make a disclosure has to be lodged with HMRC by the 14th June 2012 and the completed disclosure form and payment should reach HMRC by the 14th September 2012.
HMRC claim that penalties levied under this scheme will be capped at a maximum of 10% of the tax due, and in some cases waived altogether.
This is the latest scheme to try and encourage unregistered tax payers to fall into line…