The Solicitors Tax Campaign launched today is the latest in a long line of voluntary disclosure opportunities offered by HM Revenue & Customs (HMRC) to targeted business sectors.
Since 2007, HMRC campaigns have collected £596m in tax from people responding to the campaigns, whilst over £338m has been delivered from follow up activity.
|Campaign||Total Revenue as at 30 Oct 2014|
|Tax Health Plan||£69,323,173|
|Tax Catch Up Plan||£2,948,256|
|Value Added Tax Outstanding Returns||£37,812,885|
|Plumbers Tax Safe Plan||£22,166,777|
|Electricians Tax Safe Plan||£15,747,864|
|Tax Returns Initiative||£86,163,464|
|My Tax Return Catch Up||£32,502,644|
|Offshore Disclosure Facility||£512,190,000|
|Offshore New Disclosure Opportunity||£156,923,070|
|Campaigns Consequential Disclosures*||£5,116,343|
|Health Well Being Tax Plan||£809,505|
|Second Income||Update February 2015|
* These disclosures are from individuals not targeted by any particular campaign, but who have voluntarily come forward and made declarations of undeclared income to HMRC.
Author: Guy Smith, Tax Investigations Manager on the ReSource Tax and VAT Consultancy Team