A leading law firm has been fined by the Solicitors Regulation Authority after Stamp Duty Land Tax Duty avoidance schemes saved clients over £2.5m.

The firm, Mundays, is in Cobham, Surrey – one of the most affluent towns in the UK, in the borough of Elmbridge, known for its Jags and Wags.

Homes regularly change hands for millions of pounds: yesterday, Rightmove was listing properties in Cobham for up to £6m.

While Mundays did not charge clients for using the schemes, its promoters – including two firms which went into administration last year – made £1m in fees.

According to the SRA, Mundays had provided details of “conveyancing transactions where SDLT mitigation or avoidance schemes were utilised by the firm’s clients.

“The report identified that, between November 2009 and March 2012, the firm had undertaken 25 conveyancing transactions where clients had been a party to a SDLT scheme to avoid paying Stamp Duty. This resulted in clients avoiding SDLT worth £2,595,291.25.”

Inventive Tax Strategies and its associate Sterling Tax Strategies, which promoted the schemes, went into administration last year. The SRA said that another company, Mulbury Hamilton Tax Chambers, is facing a proposal to be struck off.

The SRA inspected Mundays in May 2013.

Mundays has now been rebuked by the SRA and fined £2,000 – the maximum without referral to the Solicitors Disciplinary Tribunal – and will also pay £5,000 costs.

Valerie Toon, managing partner of Mundays, said: “We absolutely respect the decision of the SRA on this and accept that our judgement – that there was no conflict of interest between the parties to the schemes we were advising on – was wrong.”

She said: “We stop advising on these schemes altogether in February 2012.”

* Today, at its conference in London, the Law Society launches its long-awaited conveyancing portal.