There are just a few days left for solicitors to pay any tax they owe on undeclared income, making it essential for the north-west’s legal professionals to seek accounting services in Manchester if they might be affected by the current HMRC crackdown.
Of course, solicitors are by nature very law-abiding people, but in recent years HMRC have been coming down hard on methods of tax avoidance that might previously have been thought to be acceptable.
Until June 9th 2015, solicitors have an opportunity to own up to any previously undeclared income, and pay a reduced rate of penalties than if HMRC discover the income through an investigation.
Caroline Addison, head of campaigns at HMRC, said: “We don’t think it’s too much to ask that solicitors abide by the law and pay the tax they owe.”
If you are looking for accounting services in Manchester to help you work out your exposure under this crackdown, our healthcare accountants have been through it all before.
HMRC previously focused on medical professionals – so for solicitors facing this for the first time, our healthcare accountants may be among those best-placed to help.