New HMRC Campaign Targets Businesses Accepting Card Payments
HMRC has obtained details of all debit and credit card payments made to UK businesses and is giving businesses the chance to declare unreported income via their new campaign.
This is an opportunity for any business who has not declared all, or some, of their card income to voluntarily disclose unpaid amounts. HMRC has stated that businesses that do this will get preferential terms and anyone who does not come forward will face higher penalties and possibly criminal prosecution.
If you think you may be affected by this latest campaign, please get in touch with me prior to contacting HMRC.