Tax can be complicated and mistakes happen, but taxpayers who face issues with HMRC due to bad advice should consider their options, says Matthew Sharp.
Tax advisers provide a valuable service. They have advanced knowledge of, and training on, tax laws and are qualified to help clients handle and manage their taxes, ensuring they meet all their tax obligations without stress or fear of making errors and incurring penalties.
Unfortunately, while the vast majority of tax advisers – including accountants – do an excellent job, things do not always work the way they should.
Tax advisers sometimes give inaccurate advice, such that a tax irregularity arises – resulting either in expensive, time-consuming litigation with HMRC or, if there is no reason to litigate, a costly disclosure of tax irregularities to HMRC.
While nothing will absolve the client of paying money rightfully owed to HMRC, if the tax adviser’s mistake was due to negligence on their part, aggrieved clients have the option of pursuing them for compensation.
Download the full article below: