Solicitors' Tax Campaign launched this week

12th December 2014 | News

The Government has this week launched its Solicitors’ Tax Campaign, designed for those who work within the legal profession as a solicitor who want to bring their tax affairs up-to-date.

Solicitors that haven’t yet informed HM Revenue and Customs (HMRC) about their past income, gains and undisclosed liabilities.

HMRC believes that its customers want to pay the right amount of tax and wants to aid those not paying the correct amount of tax to put that right.

How to disclose your taxes and duties

Solicitors working for themselves in their own business, within a partnership or limited liability partnership or within a company can notify their intent to disclose their outstanding taxes and duties by 9th March 2015 and make payment by 9th June 2015 to receive the following guarantees:

Once you have notified HMRC of your intent to disclose your tax liabilities the tax authority will write to you to confirm your unique Disclosure Reference Number to use whenever you contact them about the Solicitors’ Tax Campaign.
You can make a disclosure as soon as you have your Disclosure Reference Number or at any time before 9th June 2015:

You can make your disclosure by:

Jo Nockels, training and communications manager, TaxAssist Accountants, said: “If your affairs are all up-to-date and accurate, then you should have nothing to worry about.

“But if for any reason you have undisclosed tax or duties, you should consider using the Campaign to come forward.

“It’s always better to come clean with HMRC, as they will be willing to offer you the best possible terms for settlement. If you wait for HMRC to find you, the consequences could be much more severe – including criminal investigation.”