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Do tax practitioners always have the know-how for taking on clients – and for losing them?
KEY POINTS
- The importance of an adviser knowing the limits of their professional knowledge.
- Be prepared to provide accounts and tax return information to a newly appointed adviser.
- Can accounts information always be reconciled?
- Examples of tax oversights and problems.
- Do not overlook apparently peripheral subjects such as VAT and National Insurance contributions.
I took my driving test on 4 July 1978. On that day I could probably have told you the stopping distance for a car travelling at 50mph.
I don’t think I’d know how to do the theory test today but I (and my insurance company) believe I’m safer behind the wheel than an 18-year old who’s just passed. I took my CTA exams when they were still called ATII and the same applies.
I couldn’t...
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