Accountants could find themselves in demand after HMRC reminded private tutors and coaches that time is running out if they want to sign up for the Tax Catch Up Plan.
The Revenue offered the special plan in October this year. Tutors and coaches who register with HMRC by the sixth of January 2012 will receive preferential terms when they disclose their previously unpaid income tax liabilities.
The disclosure opportunity is available to people who teach academic subjects, art, fitness and dance, life coaching, music, personal fitness and other instruction.
HMRC also warned those who fail to come forward that they run the risk of investigation, much higher penalties and possible criminal prosecution.
The head of HMRC campaigns, Marian Wilson, said coaches and tutors who take advantage of the Tax Catch Up Plan will have until the 31st of March to tell the Revenue how much they owe and arrange a payment plan.
She went on to explain that after January 6th, the Revenue will make use of the data it holds to investigate any coaches and tutors who it believes have not made a full declaration. HMRC strongly urges anyone member of this group who thinks they may have been guilty of tax evasion to contact the Revenue and rectify the situation.
Anyone who still wants to take advantage of this opportunity can either register online or by calling 0845 601 8817.