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Lawyers could come under HMRC scrutiny, adviser warns
Lawyers and accountants could be about to come under extra scrutiny from the taxman, according to a business adviser.
Neil Whyte, tax adviser and accountants and business advisers PKF, says that HMRC is undertaking a "dramatic drive" to increase tax receipts from the public to boost the Government's revenues. Having started with offshore accounts, it has moved on to the medical profession, and lawyers and accountants are likely to be next.
A tax amnesty which runs until 30 June aims to get medical professionals to declare any understated or undisclosed tax liabilities.
Mr Whyte also warned that penalties can also approach 200% in some cases where they would previouskly have been 100%, with a drive to enforce collection retrospectively.