HM Revenue & Customs (HMRC) has launched a credit card sales campaign which aims to provide an opportunity for individuals and companies in business that accept debit and credit cards to bring their affairs up to date.
The campaign is described by HMRC as a “simple, straightforward way” to take advantage of the best possible terms.
HMRC, which has published guidelines on its website, says that individuals and businesses have four months to calculate and pay what they owe.
Phil Berwick, a non-lawyer partner at national law firm, Irwin Mitchell, said: “This appears to be HMRC looking for a soft target and it’s an approach that is consistent with what HMRC has done over recent years with groups such as doctors and other health workers.
“They first gather lots of data in specific areas and then go public and encourage the target group to volunteer information. Finally, they look to hit the big evaders hard if they don’t come forward and then prosecute some to make an example. It is therefore vital if anyone has a problem that they take the opportunity to deal with it as there are various ways to ensure the cost is minimised.
“It’s interesting to note the timing, as this announcement has been released on the same day as news of repayment suspension because of problems with their systems. The bottom line is, come forward and get it sorted properly because who knows what HMRC will do with your information.”
Click on the highlighted text for more details on HMRC’s credit card sales campaign.