The claimant sought damages from the defendants in respect of their advice as chartered accountants on the sale of shares in a private company. He lost the chance to claim retirement relief, by retiring as a director before agreement was reached on the purchase of his shares. The accountants had acted for him in his tax matters, but said he had declined to advise on the retirement because of his lack of independence.
Held: Where a judge came to a conclusion based upon the demeanor of the parties, it must be rare for an appellate court to set aside that judgement. In this case, the judge had failed to explain his reasoning. Here however the judge’s reasoning was clearly against the weight of evidence and wrong. The defendant had acted in the matter. The appeal was allowed, and the matter was to be remitted for further hearings.
Judges:
Lord Justice Pill Lord Justice Longmore And Sir Martin Nourse
Citations:
[2002] EWCA Civ 523
Links:
Statutes:
Taxation of Chargeable Gains Act 1992 28(1) 163
Jurisdiction:
England and Wales
Professional Negligence
Updated: 06 September 2022; Ref: scu.170247
