HMRC Crack-Down on Solicitors

HMRC Crack-Down on Solicitors

 

On 8th December 2014, HMRC announced a focused campaign into the tax affairs of solicitors, as it deemed them to be of ‘high-risk’ to the Exchequer.

 

Solicitors who are self-employed or work within a partnership are being targeted, as well as those who work within a law firm.

 

HMRC has urged solicitors to come forward and bring their tax affairs up-to-date.

 

A representative from HMRC, Caroline Addison, claims they have collected information which has allowed them to identify the solicitors who thought they could operate without declaring their income and paying the necessary taxes.

 

Addison also said that those who come forward voluntarily will receive lower penalties, while those who make a deliberate decision to not pay the taxes due could face a fine of 100% or more of the tax due, or even face a criminal prosecution.

 

You must act now - call us on 0113 233 8600 for advice.

 

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