Following an inspection the Solicitors Regulatory Authority (SRA) it has fined a London firm of solicitors for a conflict of interest involving using tax avoidance schemes. In an agreed decision the SRA found that the firm of solicitors carried out over 200 conveyancing transactions in which its buyer clients used Stamp Duty Land Tax (SDLT) mitigation or avoidance schemes. In most cases the firm also acted for the lenders but generally did not tell them about the use of tax schemes. The firm accepted it had failed to disclose material information and acted where there was a conflict of interest. The firm was fined and ordered to pay costs.
Tax Barrister, Accountant