Suing or claiming against Accountant
Charted Accountants are highly skilled financial professionals. Individuals and businesses employ the services of Accountants for many reasons. Typically they advise on financial and tax related matters.
When an Accountant makes a mistake the consequences can have a a serious financial effect on an individual or businesses finances. It could also damage reputation and place you in a very comprising position with the HMRC with regards to tax liabilities owing and fines.
If your Accountant has caused you financial loss. You must be able to show that the financial loss directly resulted from the Accountant’s negligence rather than from other events.
This sometimes can be difficult to prove and it is likely that the Accountant may attempt to defend any claim for loss against them. It is therefore important to understand that in order to demonstrate that the financial loss complained of is due to the negligence of the Accountant. We may need to obtain expert evidence from an independent Accountant who is accustomed to the Civil Procedure Rules of England and Wales.
The expert independent Accountant will prepare a report on your behalf. This is to demonstrate and prove that on the evidence and facts of the case, the negligent Accountant caused the financial loss. This expert report will then be used as evidence before a court in support of any claim for financial loss. It will also explain how it relates to the Accountants negligence.[p]Negligence resulting in financial loss caused by an Accountant may be difficult to prove in the first instance and we will need to gather evidence in support of any claim before we can assess whether we proceed to instruct an independent Accountant to prepare an expert report.[/p] [p]The most common Accountant negligent errors are:[/p]
- Providing incorrect tax advice
- Missed deadlines to file an annual return
- Failure to draw up accurate accounts
- Failure to advise on tax regulations
- Overvaluing company assets
We must be clear that we are not able to assist you if the service which you have been provided is simply poor unless you have suffered a financial loss. If this is the case you may be able to submit a formal complaint, please refer to our ‘Negligence or just a complaint’ page for further information.