Solicitors targeted in new tax campaign

HMRC has launched The Solicitors’ Tax Campaign. This is the latest of the Revenue’s voluntary disclosure opportunities. Solicitors have until 9 March 2015 to tell HMRC that they would like to take part in the campaign, and until 9 June 2015 to disclose the tax they owe and pay it.

Those who voluntarily disclose will pay lower penalties.  Those who don’t disclose could face a 100% plus penalty or criminal prosecution if HMRC has to approach them. Penalties for offshore-related income can be up to 200%.

HMRC has a web site with information on the program, forms, calculators to estimate taxes, and phone numbers for additional help. You can visit it through this link

If this affects you and you need some advice get in touchNine Ashes Bookkeeping is an independent accounting and bookkeeping firm based near Ongar, Essex. We provide affordable, knowledgeable, and professional accounting and bookkeeping services to small and medium sized businesses in Essex – serving the Brentwood, Chelmsford, Billericay, Harlow, Epping, Ongar and Ingatestone areas.

Source: accountingWEB

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