Coaches and private tutors have until 6 January 2012 to register for the Tax Catch-up Plan as part of the HMRC’s latest campaign to encourage disclosure of undeclared tax liabilities.
Coaches and tutors who register for the plan will have until 31 March 2012 to let HMRC know about any tax owed for the years up to 5 April 2010, and pay the outstanding amount.
By doing this the terms of payment will be more favourable than those on offer to people who wait for the HMRC to come to them, with reports suggesting that the penalty for those who register will be set at no more than 20 per cent.
To view more information on the HMRC website please click here.