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Medics, lawyers and accountants targeted in tax crackdown

Steve Carpenter
Steve Carpenter

by business editor Trevor Sturgess

Professional pillars of the community are being targeted in a new government campaign to tackle tax evasion.

DSH Chartered Accountants & Business Advisors, based in Maidstone, are warning high-earning medics, lawyers and accountants they are in the firing line of the HM Revenue & Customs 'Professional Campaign'.

The tax offensive was unveiled this week with an announcement that the medical profession would be the first to go under the microscope. The tax affairs of doctors, dentists, hospital consultants and cosmetic surgeons are going to be closely scrutinised.

The finger of suspicion will also be pointed at solicitors, barristers and accountants over the next few months. All these professionals are being offered a cut-price incentive to come clean.

Steve Carpenter, DSH tax manager, said: "HMRC believes some medical professionals may be understating the amount of earnings upon which UK tax and duties are due. This campaign is designed to make it easier for any individuals who have omitted income from their tax returns in the past to get their tax affairs back on the right track and offers them the certainty of a reduced penalty of 10 per cent."

Medical specialists have until Wednesday, March 31 to register their intention to disclose, with disclosures completed and payment made to HMRC by Wednesday, June 30.

"If you are at all unsure about the amount of tax you should be paying, it is a good idea to seek expert advice," Mr Carpenter added. "There are legitimate arrangements that can be put in place to save tax without running the risk of an enquiry.

"It seems certain that HMRC will be targeting other groups of high-earning professionals in the near future so it is best to get your tax affairs in order as soon as possible. Tax evasion loses the economy some £3billion a year and the Government is determined to recover these funds with tens of thousands of individuals due to be audited."

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