In a survey by Alexander Forbes International, claims and notifications
against professionals rose sharply, climbing to 603 in 2005-06, from 452 a year
Taxation claims were the highest in proportion to others, up to 27.2% from
25.6%, while audit negligence claims also rose, from 1.9% to 3.8%. Tax and audit
claims together increased by 50%, from 124 to 187.
Despite the growth in claims in audit and tax, the biggest surge was for
incorrect endowment advice, which rose to 20% from 12.3%.
‘An increasing number of home owners are finding that their endowment
policies will fail to pay off their mortgages and they are seeking recompense
from their accountants for negligent advice. This has been compounded by a
number of specialised claims farmers who have made a business of encouraging
home owners to seek compensation from their advisers,’ said executive director
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states