Services for accountants and tax advisers

We advise accountants, tax advisers and other professional services firms on legal and regulatory issues including:

  • Client engagement, terms of business and limitations of liability
  • Professional indemnity insurance coverage issues – advice on coverage disputes, notification of claims and circumstances
  • Professional conduct and ethical obligations, including Conflicts
  • Defence of professional negligence claims
  • Risk management
  • Fee arrangements, and costs issues
  • Liabilities in relation to tax evasion and criminal finance
  • Anti-money laundering issues (AML)
  • Data protection, confidentiality, and disclosure obligations
  • Legal Services Act issues:
    • Obtaining accreditation as a probate firm (providing legal services previously restricted to solicitors and other lawyers)
    • Acquiring an interest in a law firm as an Alternative Business Structure (ABS)
    • Establishing a Multi-Disciplinary Practice (MDP) with solicitors
    • Other aspects of regulation under the Legal Services Act 2007

Francis Dingwall spent 7 years at a major professional indemnity practice in the City of London, defending national and international firms of accountants against professional negligence claims.

Our recent work includes:

  • Drafting a limitation of liability provision for a niche firm of tax advisers regulated by ICAEW and CIOT who provide advice to Ultra High Net Worth clients both UK-based and offshore.
  • Advice on exposure to liability for facilitating offshore tax evasion under section 162 of the Finance Act 2016
  • Handling a policy coverage dispute for professionals accused by their insurer of turning a blind eye to an aggressive tax avoidance scheme and failing to warn clients appropriately.
  • Advice on insurance law aspect of practice merger between accountancy firms.
  • Advice to chartered accountants on a claim arising from allegedly inadequate advice on tax reserves.
  • AML advice to accountants on whether to submit an SAR (suspicious activity report).
  • Advice on a dispute over file retention, and advice on release of audit files to an insolvency practitioner.

Key Contact

Francis Dingwall

For specialist legal advice on Services for accountants and tax advisers please contact Francis.

0345 330 6791 francis.dingwall@legalrisk.co.uk

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