Accountants Negligence

Accountants negligence occurs when an accountant fails to exercise the reasonable skill and care expected of a competent professional. This includes errors in tax returns, incorrect financial advice, missed deadlines, failure to identify tax reliefs, and inadequate record-keeping that causes you financial loss.

Yes. If your accountant's negligence resulted in late filing, incorrect tax returns, or other errors that led to HMRC penalties, you can claim these penalties as part of your compensation. This includes interest charges and additional tax liabilities caused by the accountant's mistakes.

Generally, you have six years from the date of the negligent act or three years from when you discovered (or should have discovered) the problem. Time limits can be complex in professional negligence cases, so contact us as soon as possible to protect your rights.

Gather all correspondence with your accountant, engagement letters, tax returns, financial statements, HMRC correspondence, and evidence of losses. We'll help you collect additional evidence and instruct expert witnesses to review the work and provide professional opinions on the standard of care.

Qualified accountants are required to carry professional indemnity insurance. Claims are typically made against this insurance rather than the accountant personally. If your accountant has ceased trading, there may still be insurance coverage available for past work, or you may be able to claim through other compensation schemes.