Some of you may be aware of the HM Revenue and Customs (HMRC) announcement regarding their Tax Catch Up Plan for tutors and coaches. This is an opportunity for coaches and tutors to tell HMRC between now and 31st March 2012, about any unreported income that has been received and pay what is owed.
By making a disclosure under the Tax Catch Up Plan, coaches and tutors will benefit from the best possible terms. The deadline for people telling HMRC that they intend to make a disclosure is 6th January 2012.
If individuals are paid for providing coaching, instruction or tuition and tax is not deducted and the income received is not detailed on a tax return or an adjustment doesn’t already occur in the tax code, then this needs to be communicated to the HMRC now.
HMRC is using legal powers to obtain information about payments made to tutors and coaches from various sources, including the academic, sport, leisure and other sectors. After 6th January 2012, when the deadline to notify has passed, HMRC will use data from an extensive range of sources to identify those who have failed to come forward and notify their intent to make a full declaration.
The benefit for individuals of taking advantage of the Tax Catch Up Plan, is that they will be able to stop worrying about what might happen if HMRC finds out that they have not been telling them about all of their income or gains. It’s a chance to start getting things right from now on, whilst knowing exactly how much it’s going to cost to sort out things for the past. It’s basically a ‘fresh start’.

There is a dedicated page on the HMRC website