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Tag Archives: Tax Schemes

Accountants have a duty to promote tax schemes, says High Court

Tax TrailA prominent West Midlands accountancy firm has been successfully sued in the High Court for £1.4m in damages, arising from their failure to advise a client of the availability of tax avoidance strategies.  According to The Times, Iranian businessman Hossein Mehjoo took his accountants Harben Barker to court for failing to advise him to join a particular tax scheme, which was subsequently shut down by HMRC but which was available at the time, and was effective in mitigating Capital Gains Tax (CGT) liabilities.  Mr. Mehjoo had sold his business and realised an £850,000 tax bill, which he attempted to mitigate via another scheme, but which ultimately failed.
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