The doctors' tax amnesty
HMRC has announced an amnesty for doctors so that they can get their tax affairs in order. Clearly the taxman feels doctors have some questions to answer about the income they declare for tax purposes.
The point is though its unusual for the taxman to target a single profession in quite such a bold way. Already observers have signaled they believe this is a sign of things to come. In examining the ironically entitled Tax Health Plan, in which doctors are offered an amnesty to come clean, and only a 10% penalty, experts believe HMRC has set a pattern for how it will deal with other professions going forward. It’s clearly one way of dealing with unpaid tax at a time when the Treasury is desperate to replenish its coffers.
But who is next? Presumably HMRC will undertake a risk assessment but who would bet against architects and lawyers coming to the attention of the taxman. Then, who knows. Maybe even accountants. Now that would be ironic.