1. Omitting to consider the VAT implications of significant property transactions;
  2. Loss of tax credits as entitlement not claimed early enough – eg: when unincorporated business client suffers a loss;
  3. Missing the deadline to claim research and development tax credits or property related capital allowances;
  4. Omitting to reorganise group companies to reduce ‘avoidable’ tax charges;
  5. Failure to advise clients to correct their payroll procedures so as to reduce penalties;
  6. Omitting to provide ‘standard’ tax planning advice on arrival or departure from UK, on mergers, on acquisitions, pre sales;
  7. Ignoring consequential adverse implications leading to avoidable tax liabilities (eg: VAT, SDLT, IHT, NICs, Customs duties etc) when giving commercial or ‘basic’ tax advice;
  8. Omitting to compute and report the tax consequences of transactions such as disincorporation;
  9. Failure to ensure that all relevant criteria are satisfied to facilitate a claim for specific reliefs (eg: Enterprise Investment Scheme);
  10. Assuming that there would be no liability to inheritance tax and failing to advice as to how the real liability could be reduced;
The above list forms part of the material covered in my regular talks for accountants and tax advisers on the subject of ‘How to avoid professional negligence claims’.
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NB: This is not a top ten list – indeed you may have other suggestions. Please add them as comments below: