How to survive the middle-class tax crackdown

Doctors, dentists, and other professionals have been warned: they are the targets in a new HM Revenue & Customs crackdown on tax evaders.

Initially the taxman’s beady eyes will be focused on those working in the health service. But HMRC confirmed that it will be turning its attention to other professionals, such as such as solicitors, lawyers and accountants – later in the year.

Given the size of the black hole in Government finances, and that an estimated £3bn is lost each year through unpaid taxes, it is perhaps not surprising that HMRC is trying to increase its take from well-renumerated professionals.

This campaign follows a similar move to identify those who were not paying tax on money squirrelled away in offshore accounts, which was deemed a success. HMRC is again offering a three month “amnesty”, giving GPs, dentists and hospital consultants have until March 31 to “’fess up and pay up”, before the attack dogs in the investigations team are unleashed.

Mike Wells, the director of risk and intelligence at HMRC left little doubt that he means business. “The message is clear: contact us before we contact you.”

More here.