Coaches and private tutors have until 6 January 2012 to register for the 'Tax Catch-up Plan as part of the HMRC's latest campaign to encourage disclosure of undeclared tax liabilities.
Coaches and tutors who register for the plan will have until 31 March 2012 to let HMRC know about any tax owed for the years up to 5 April 2010, and pay the outstanding amount.
By doing this the terms of payment will be more favourable compared to waiting for the HMRC to come to you, with reports suggesting that the penalty for those who register will be set at no more than 20 per cent.
- More information is available at the HMRC website
- View a guide for employer/deployers and coaches on the employment status of coaches produced by sports coach UK in partnership with HMRC.
Tell HMRC now about your income from tuition and coaching
Why should you act now?. A unique opportunity to tell HM Revenue & Customs about your coaching, tuition and other undisclosed income and pay on the best possible terms.
How to tell HMRC about your tuition and coaching income. Notify HM Revenue & Customs (HMRC) of your intention to make a disclosure by 6 January 2012. Make your disclosure and payment by 31 March 2012
Help and support. Where to find more information and advice about reporting your income from tuition and coaching under the Tax Catch Up Plan.