Garside & Co LLP Chartered Accountants in London, Auditors, Tax Advisors, Business Advisors
  • Email
Call Now: 020 7439 1050
  • Home
  • About Us
    • Offers
  • Contact Us
    • New Client Application Forms
  • Services
    • Audit & Accounting
      • Accounting Services
      • Management Accounting
      • Forensic Accounting
      • VAT Returns
      • Audit & Assurance
      • Bookkeeping
      • Due Diligence
      • Cashflow & Profit Forecast
      • Online Accounting
    • Business Tax
      • Corporate Tax
      • Partnership Tax
      • Self Employed Tax
      • Subcontractors Returns
      • VAT
      • Tax Investigation Insurance
    • Business Consulting
      • Business Advisory
      • Business Support
      • Business Planning
    • Business Finance Advice
    • Company Formation
      • Company Secretarial
      • Company Incorporation
      • Business Start-Up
    • Corporate Finance
    • Payroll
    • Personal Financial Planning & Tax
    • QuickBooks Accounting
  • Resources
    • Useful Links
  • Bulletin Board
  • ShareFile Login
  • Quickbooks Login
    • ClearBooks Overview
Search the site...
Home» Tax » Private tuition fees. Why you should act now

Private tuition fees. Why you should act now

Posted by admin - November 16, 2011 - Tax

Tax deadlineThe Tax Catch Up Plan for tutors and coaches is a time limited opportunity for you to inform HMRC between now and Saturday 31 March 2012, regarding any unreported income you have received and to pay what you owe.

By making a disclosure under the Tax Catch Up Plan, you will benefit from the best possible terms. Tell HMRC now about your income from tuition and coaching.

You will need to tell HMRC by Friday 6 January 2012 that you intend to make a disclosure.

If you are paid for providing coaching, instruction or tuition and tax is not deducted; and you do not include that income on a tax return or have an adjustment already in your tax code, then you need to use this plan to inform HMRC about that income immediately. Also, if you owe tax in respect of anything else such as capital gains or rental income you can use the Tax Catch Up Plan to inform
HMRC about that as well.

What happens if you do not tell HMRC?

HMRC is using legal powers to obtain information about payments made to tutors and coaches from various sources, including the academic, sport, leisure and other sectors.

After Friday 6 January 2012, when the deadline to notify has passed, HMRC will use data from an extensive range of sources to identify those who have failed to come forward and notify their intent to make a full declaration. HMRC uses advanced IT tools including web robot software which helps identify people who have failed to pay the correct tax. Those identified face significant penalties or even criminal prosecution.

For fresh ideas, new possibilities and a value driven service go to Garside & Co LLP Chartered Accountants in London.

Related posts:

  1. 2010 self assessment deadlines
  2. Swiss tax settlement allows for certification of non-doms by professionals

Categories

  • Accounts
  • Business
  • Economy
  • Tax

Recent Posts

  • Press Release Parliamentary Review

    December 10, 2018
  • Reporting Modern Slavery Act 2015

    December 10, 2018
  • CGT non dom rebasing

    December 10, 2018
  • Entrepreneurs Relief changes Budget 2018

    December 10, 2018

    Download Resources

    Access your free cashflow, forecasting, business planning and personal budgeting tools.

    Selling Your Business?

    Discover how saleable your business could be and find how quickly it might sell.

    Auditing & Accounting
    Business Tax
    Tax Investigations
    Business Advisory
    Company Secretarial

    Business Start-Up
    Corporate Finance
    Payroll & BACS
    Personal Financial Planning
    Personal Tax Planning

    • 020 7439 1050
    • Contact Us
      • Email
      • Twitter
      • Linkedin
    (c) 2013-2018 Garside & Co LLP | Terms of use | Privacy policy | Sitemap |