A spokesman for the Revenue said that legal advice taken at the time the tax avoidance disclosure rules were drawn up by the Treasury convinced them there would not be a problem and that disclosing client’s avoidance schemes to the Revenue would not go against privilege.
Accountants have expressed their ‘severe concern’ at the Law Society’s stance saying it will give them an ‘unfair advantage’ compared to accountants.
But the Law Society is certain that its stance is correct and even said that ‘test litigation’ could be the only way to resolve the matter. The Revenue said it ‘hopes to resolve’ the problem before getting that far.
Carter Backer Winter has acquired Edwards Financial Services, expanding its financial planning department
New growth opportunities in Aberdeen, North East Scotland, are being invested in by Grant Thornton
Colin responds to the call for 'Darwinism' in accountancy
A new partner, Dermot Callinan, has joined Saffery Champness from KPMG where he was recently the head of the UK private client advisory team