Mitchell Charlesworth warns taxpayers as HMRC launches campaign targeting 'Second Incomes'

HMRC has introduced a campaign to target taxpayers with undeclared second incomes.  The campaign will give those individuals who have additional income that is not taxed as part of their main job or other PAYE scheme an opportunity to bring their tax affairs up to date.

As with their other recent campaigns, HMRC is offering people with undeclared income a chance to get up to date with their tax affairs ‘in a simple, straightforward way and take advantage of the best possible terms’ through voluntary disclosure.

Individuals can take advantage of this opportunity if:

HMRC Money
  • They are an employee
  • They are resident in the UK
  • They have additional income from working for themselves

What constitutes a ‘second income’:

  • Consultancy fees e.g. for providing private tutoring or public speaking
  • Organising parties and events or providing entertainment
  • Providing services like taxi driving, hairdressing or fitness training
  • Making and selling craft items
  • Buying and selling goods, e.g. at market stalls, car boot sales or through e-commerce sites (e.g. E-bay)

Those affected will need to tell HMRC about additional income by either:

Whilst there is currently no end date for this campaign, once a person has notified HMRC of the intention to make a disclosure they must then do so within four months of the date they receive their notification acknowledgement.

If you fall into the above categories and wish to seek further advice, please contact our specialist Tax Partner Tim Adcock by emailing, or by calling 0151 255 2300.  Alternatively please complete our quick enquiry form.

Post a comment

Comments closed

Registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales and authorised and regulated by the Financial Conduct Authority for investment business