A spokesman for HMRC said solicitors who failed to come forward voluntarily faced paying penalties of 100% on the unpaid tax and a criminal investigation.
“The penalty would normally be between 0% and 20%, depending on circumstances,” he said.
“Solicitors who do not come forward but are found to have unpaid tax liabilities will face higher penalties, rising to 100% of the tax unpaid or, possibly, criminal investigation. Penalties for offshore-related income can be up to 200%.”
The solicitors’ tax campaign, launched in December last year, is the HMRC’s latest “voluntary disclosure opportunity”, following campaigns aimed at medical professionals, plumbers, tutors, electricians, landlords and others.
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