High-earning doctors and dentists are the current target of HM Revenue and Customs' (HMRC) mission to make sure people's taxes are up to date. Some 2,500 senior health and medical care professionals will receive letters from the tax authority, informing them that their tax affairs are not up to date and that, if they do not come forward to put things straight within 21 days, then they could face significant additional charges or even prosecution.Gary Ashford, from financial services firm RSM Tenon, who is also a leading Chartered Institute of Taxation (CIOT) representative, said that there are many medical professionals who do not have a clean bill of tax health."HMRC made clear at the launch of the Tax Health Plan in January 2010 that they would be adopting a carrot and stick approach," Ashford explained. "They have offered the carrot of a relatively low penalty rate for doctors to get their affairs in order and 1500 health professionals took it up, bringing in £10 million for the Exchequer. Now they are wielding the stick at those who have not come forward."He said that HMRC liaises with medical insurance companies, pharmaceutical companies and locum agencies and holds more information on the revenues in the healthcare sector than many professionals realise.Ashford added, "Anyone who is worried that they have been underpaying tax - whether deliberately or in error, and whether they are doctors or anyone else - should get professional advice without delay."
http://www.50percenttax.co.uk/index/2011/11/18/hmrc-cracking-down-on-healthcare-professionals.html
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