Press Releases

March 2011

Tax help for the plumbing trade

Milsted Langdon, a chartered accountancy firm based in the South West, are informing their clients of a new plan that has been devised by the HM Revenue & Customs (HMRC) to help people who work in the plumbing trade keep their tax affairs up-to-date.

The Plumbers Tax Safe Plan (PTSP) intends to help those who have not informed the HMRC about all of their past income. The plan will cover those who work, or have worked, within the plumbing, heating or gas installation trades and will also include anyone who installs and repairs pipes, water fixtures, and drainage and gas systems in a building.

When it comes to paying tax, those who are self-employed can often struggle to understand the amount they should be paying. The initiative comes to ensure that it is easier for people who are not paying the right amount of tax to put it right, and for the HMRC to be able to follow up those who are not.

Jon Stocker from Milsted Langdon said: “The PTSP will mean that people from the plumbing trade will be able to tell HMRC about any income that they haven’t previously declared, and it will mean paying a lower penalty. It will also mean a ‘fresh start’ for people who have worried about the consequences of not declaring all of their income. 

“If a person does owe tax payments and cannot afford to pay them back, they will be able to spread the repayments depending on their circumstances.

“However, it does mean that we can also expect a higher level of scrutiny and investigations by HMRC into the plumbing industry and inevitably some innocent people will also be caught up in this.”

Milsted Langdon has Plumbers Tax Safe Plan flyers available, which contain further details about the plan and how Milsted Langdon can help.

For more information about Milsted Langdon, contact the Taunton Office on 01823 445566, the Bristol Office on 0117 945 2500, or the Yeovil Office on 01935 383500.