The defendant accountants appealed a finding of professional negligence. They had organised schemes with respect to tax saving for their client companies.
Held: The judge was correct to reject the defendant’s argument that the company could not have raised funds to make the alternative tax arrangement. The claimant’s argument that the inspector of taxes could have been persuaded to accept a low valuation of the shares at a slightly different date, thus reducing tax substantially succeeded, and the damages increased accordingly.
Failure of tax mitigation scheme
Citations:
[2001] EWCA Civ 895, [2001] EWCA Civ 894, [2001] STC 1065, [2001] BTC 292
Links:
Jurisdiction:
England and Wales
Citing:
Appeal from – Little and Others v George Little Sebire and Co QBD 17-Nov-1999
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Lists of cited by and citing cases may be incomplete.
Professional Negligence
Updated: 18 November 2022; Ref: scu.201156