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Solicitors disclosure

Newsletter issue - January 2015

As a qualified solicitor you need to be very careful not to make mistakes on your tax returns, as a tax investigation could do serious harm to your professional reputation. Taxpayers who make deliberate errors that lead to tax underpayments of £25,000 or more, may have the details of their name, address, amount of tax avoided and penalties paid, published on the internet by HMRC.

HMRC are currently targeting solicitors who have omitted income from their tax returns, and at the same time are offering a chance for solicitors to disclose any errors before they receive the call from HMRC.

This disclosure opportunity is open to solicitors who work within the legal profession as a partner or employee in a legal firm, or within a company. HMRC has promised that it will not publish the details of solicitors using this disclosure campaign. However, to secure this confidentially guarantee the taxpayer must make an accurate disclosure, and co-operate fully with HMRC if asked to supply any further information following the disclosure.

You can make a disclosure in respect of your own tax return, or in respect of a tax return for a company or deceased person's estate for which you act as director or executor. If you want to make a disclosure you must first notify HMRC by 9 March 2015, then make a full disclosure and pay all tax, interest and penalties due by 9 June 2015. We can help you with those disclosures and the calculations of tax due.

 

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What our clients say

Dakins Property Services

Great Results, Personable, High Integrity

Choice Events Limited

All at Beauchamp Charles are very helpful, approachable and easy to talk to. They keep me informed with key dates; I can feel totally confident that I won't ever miss any deadlines! Whoever I deal with, always deal with matters professionally and efficiently and if they are unavailable they get back to me promptly.

FT leisure Ltd

I have worked with Beauchamp Charles as our management accountants for over 20 years and have never received anything less than exceptional service. Their approach is both professional and personal. Finances and particularly tax strategies are a minefield for small businesses; Beauchamp Charles have in-depth knowledge of these area, which is comforting. They pay very close attention to our business activities and have provided financial strategies that have helped our company develop.

Fredrick Thomas Electrical and Maintenance

We have used Beauchamp Charles since company formation back in 1998. Beauchamp Charles offers us a one to one service as they are small enough to offer this dedicated service and large enough to do the work and offer best advice. They get to know us as individuals and a business, always giving sound advice. Frederick Thomas Electrical are in a stronger place thanks to the service we get from them.

Barnes Walker Landscapes Limited

We are a small business and had employed the same accountancy firm for many years. Two years ago we took the decision to switch to Beauchamp Charles after several othe local businesses recommended them very highly to us. We have not been disappointed with the service they have provided to us over these last two years.