Doctors and dentists are being targeted by the taxman. In a move designed to encourage them to tell HM Revenue & Customs (HMRC) if they have understated income, medical professionals, which includes dentists, are being asked under a new Tax Health Plan to contact HMRC by 31 March 2010 to make a voluntary disclosure. After that date HMRC will carry out targeted investigations aimed at those who have not come forward and it says substantial penalties or even criminal prosecution could follow for those who have undeclared tax liabilities.
The Health Plan will operate in two stages. From 11 January to 31 March 2010, medical professionals can register their intention to make a voluntary disclosure with HMRC. By 30 June, those who have registered must have made their disclosure as well as arrangements to pay all tax interest and penalties due. Launching the campaign, Mike Wells, HMRC's Director of Risk and Intelligence said, 'The message is clear: contact us before we contact you.'
