Lawyers have been given until 9 March to declare that they will take part in the scheme. They then have to pay up by 9 June. This group will face penalties of 20 per cent of the tax due, plus interest. Those that do not come forward will be met with penalties of up to 100 per cent of the tax due and possible criminal prosecution.
Owner managers
The tax authorities regularly focus on a particular sector - and have targeted doctors in the past, for instance. Fiona Fernie of Pinsent Masons gives a suggestion as to why lawyers have become the subject of official interest. She says: 'I suspect they are targeting smaller, owner-managed practices where, like anywhere, there is less red tape.' Source: Financial Times
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