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Its a competitive world, of course, but its timely to point out if something looks too good to be true, quite often it is.

There was a case reported today on Taxations website about a firm of accountants where HMRC had effectively banned them from representing clients. There’s a judical review under way around claims from HMRC that there were systematic irregularities across all clients in areas such as provisions being included for accountancy fees that were higher than the amounts actually charged, retrospective use of limited companies, and retrospective allocation of income and expenses between limited companies, sole traderships or partnerships.

In this case it’s obviously right for the legal process to take its course, but it is worth pointing out that some advisers in the field of accountancy and taxation may make grandiose promises, but at the expense of operating outside of the law, with the long term risks to clients being quite high.