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Finally

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    Finally

    Bosses facing £500k tax bills take the fight to their accountants

    A thousand entrepreneurs who relied on a “crude” tax avoidance scheme are suing their accountants after being handed bills by HM Revenue & Customs for around £500,000 each.

    The six-figure sums are part of a far-reaching crackdown on “disguised remuneration” tax avoidance. Campaigners are in a bitter fight with HMRC over the rules. Individuals have until April 5 to settle with the Revenue or face a penalty on top of the tax owed.

    Hundreds of small business owners who bought into the “E-shares” or “partly paid shares” scheme blame their accountants for the unexpected bills. They say they were advised it was a legitimate way to pay less tax, so are suing for professional negligence.

    Bosses facing GBP500k tax bills take the fight to their accountants

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