HMRC Continue to Tackle Tradesmen - Electricians Tax Safe Plan (ETSP)

What is the ETSP?

Following the success of the recent Plumbers Tax Safe Plan (PTSP) HMRC have now declared that their next target is electricians, which they define as ‘anyone who installs, maintains and tests electrical systems, equipment and appliances under stringent safety regulations’.

Further details are to follow but this will commence in February 2012 and it is likely that similar terms to those offered under the PTSP will apply i.e a reduced penalty and immunity from prosecution (assuming a full disclosure is made).

It is also unclear whether HMRC have obtained any information. HMRC did have information from the Gas Safe Register which they used to identify plumbers who had not disclosed their income. Subsequently HMRC made a number of arrests and opened hundreds of civil investigations into those who did not take advantage of the opportunity.

What Should I do Now?

We will issue updates when they are announced but if you think this will be relevant to you, or you are an accountant and believe this may be relevant to any of your clients please contact AVN Venus Tax on 0113 823 2861 or email ryan@avnvenustax.co.uk .

Even if you are not an electrician and have something to declare to HMRC then you should still contact us to make the best possible disclosure on your behalf.