How an accountant can be sued if taxes are filed ... - Frugal Finance

When a business files their tax return at the end of a tax year, it can be a very stressful experience. Sole Traders normally file tax returns themselves because calculating their profits and expenses is much easier compared to businesses with a large number of employees. When paying your Corporate Tax it is therefore advisable you ask for assistance from an experienced accountant or other professionals in order to file a tax return on your behalf.

Although the vast majority of accountants file tax returns correctly, there are some accountants who do not do their job properly and consequently a business may be penalised by HMRC (Her Majesty?s Revenue and Customs). Such penalties which may be brought against a business include late payment fees because a tax return was submitted late, or because the information which was entered on the tax forms was incorrect even though the right information was provided to the accountant.

As an accountant may have filed a tax return that was incorrect by hundreds of thousands of pounds, a business should seek compensation for the amount of money which they have to unnecessarily pay. If a business? profit margins are not considerable and they have a large workforce, they may have to let employees go as they cannot sustain their finances due to excessive penalties.

If a business believes that their accountant filed their tax return incorrectly, Bolt Burdon Kemp can help. As professional negligence solicitors, Bolt Burdon Kemp adopt a ?no win, no fee? claims policy and have helped many clients sue their accountants over the past twenty five years. Bolt Burdon Kemp will take all aspects into consideration so that the rate of compensation which is sought from an accountant is credible and will cover all expenses. Their team of experienced professionals understand that the process of suing an accountant can be nerve-wracking but Bolt Burdon Kemp can help because they are fully aware of what happens. Therefore, businesses will know what to expect next in their no win no fee claims.

Source: http://www.frugalfinance.co.uk/how-an-accountant-can-be-sued-if-taxes-are-filed-incorrectly/

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