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13 February 2012Press Releases
Avon ladies and other direct sellers could see their takings slip out the door as they have moved to the top of the taxman’s targeted campaign list, warns accountants and business advisers James Cowper Kreston.
HMRC has announced that it has people who receive income from buying and selling goods direct to the public in its sights and is giving them an opportunity to come forward and declare unpaid tax.
Mark Herson, Private Client Tax Director at James Cowper Kreston comments: “People who top up their household budget through anything from ‘Jamie at Home’ parties, to selling through Betterware or Avon catalogues could be affected and need to ensure their finances are in order.
“This will no doubt come as a surprise to some, as those involved in direct selling are often unaware they need to fill in a self-assessment tax return to declare their earnings.”
Mark added: “HMRC is using increasingly sophisticated software to identify taxpayers who are not keeping their affairs in order and the chances of going undetected are therefore diminishing. The taxman has been targeting a wide range of groups and their campaigns are proving successful. Efforts to secure payments from plumbers, for example, have so far generated close to £4 million.”
Mark concludes: “Direct sellers who suspect their tax affairs are not completely up-to-date would be well-advised to consider making a voluntary disclosure to HMRC. We recommend that those who believe they might owe tax seek advice from an accountant or tax adviser before making a declaration.”
Mark Herson, Director, James Cowper Kreston LLP, Tel +44 (0)1865 200500 or email firstname.lastname@example.org