My Accountant Has Made An Error, Am I Still Liable?
Tax Errors Made By Accountants
In law, everyone has an individual responsibility to ensure that they pay the correct amount of tax – even when using an accountant. Although you may have acted completely reasonably in appointing an accountant to handle your tax affairs, the ultimate responsibility rests with the taxpayer themselves.
Clearly, this can result in penalties and interest payable if there has been an under-declaration of tax payable to HMRC.
Penalty Levels and Appeals
Being able to demonstrate that you have acted reasonably will help greatly when seeking a reduction in fines or penalties. This is commonly achieved by filing an appeal with the First Tier Tax Tribunal (FTTT). The FTTT is completely independent of HMRC and has the ability to either remove a penalty completely or implement a different penalty level.
Click here to find out more about First Tier Tax Tribunal.
At T M Sterling, one of our strengths is our experience of representing clients at Tribunal. If you this this is an avenue that you may wish to explore further, then please get in touch today for a free initial consultation. We’ll talk you through the various options and recommend the best way forward in your case specifically.