When tax advice strays from planning to avoidance and evasion (2)

Second of two articles

clock • 5 min read

With the tax affairs of so many VIPs once more in the headlines, Andrew Reid and James Hall consider what claims can be brought against the original advisers and what might be done to avoid that happening

So how does one begin to establish whether there is a claim against a previous adviser? As mentioned in our first article, many of our cases are referred to us from financial advisers, so the following is a guide to some of the questions you could ask a client to help establish if they may have a case for professional negligence against their former adviser: * Was advice or information given about the investment/tax mitigation scheme in question? If so, was it advice or information that a reasonably competent adviser should have given? * What were the adviser's terms of engagement? ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Safeguarding clients in a world of increasing HMRC activity

Safeguarding clients in a world of increasing HMRC activity

'It is important that financial advisers stay informed and proactive'

Louisa Beciri and Tom Lewis
clock 23 April 2025 • 4 min read
IHT receipts swell to record £8.2bn for 2024/25

IHT receipts swell to record £8.2bn for 2024/25

10% higher than last year, commentators note

Jen Frost
clock 23 April 2025 • 2 min read
HMRC gears up for an increase in criminal investigations

HMRC gears up for an increase in criminal investigations

'Criminal investigations are reserved for the most egregious cases'

John Hood
clock 17 April 2025 • 4 min read