A business can rightly expect a thorough, professional and adequate service when they approach an accountant to assist with financial matters. It is not unreasonable to expect that the advice and services provided by an accountant are going to be correct, however, if they have been negligent, then this can sometimes lead to significant fines/penalties from HMRC. Sometimes, these failures can prevent the implementation of appropriate cost-saving or tax-saving measures which could have otherwise improved cash-flow and allowed the business to flourish.

Usually the possible negligence of an accountant is not identified until the services of a new accountant are sought and the errors come to light. Worse still, HMRC may undertake investigations, find failings with a company’s accountants,  and demand that significant amounts be repaid immediately. By then, the damage may already be done, and financial consequences of the wrongdoing can be catastrophic for a business. The difficulty which flows from this situation is that, where all claims have very strict time limits within which Court proceedings must be commenced, it can mean that there is an even shorter period of time available to investigate and prepare a professional negligence claim against an accountant. Therefore, if you suspect negligence on the part of your accountant, it is imperative that you seek immediate legal advice in order to protect your position and your business.

For advice on the initial steps you need to take when making a claim against an accountant please call our team on 01256 844888.