You Are Entitled to Rely on Ostensibly Competent Professional Tax Advice
17th January, 2023When it comes to tax matters, there is a tendency for fiscally inexperienced people to simply sign whatever documents their accountants put in front of them. That can be a risky approach but, as a First-tier Tribunal (FTT) ruling showed, there is often an entitlement to place reliance on ostensibly competent professional advice. The case concerned three former partners in a drain maintenance firm. They had the misfortune to be advised by a small accountancy practice whose principal was subsequently found guilty of cheating the public revenue and jailed. Following...