Two Montpelier users hit with £23,000 in tax fines :: Contractor UK
I think too many people on here take their accounts advice as law, rather than what it is: advice. Ultimately you will always be responsible for yours and your LtdCo's tax affairs.
PS for the lovely accountants on here who have helped me in the past, please don't think this as a bashing of your profession, its an indictment of the people who don't take the time to understand every aspect of their own business, or rely on others blindly.
Again, the taxpayers argued that it was reasonable for them to simply rely on statements from Montpelier about how transactions would be implemented under the scheme which, as ordinary taxpayers, they claimed they couldn’t carry out due diligence on.
However pointing to the decision in the 2012 case Hanson Vs HMRC, the tribunal reminded that a taxpayer cannot simply leave everything to his or her agent, who in this case was Montpelier.
This means the taxpayer is actually obliged to ensure that the agent has not made any errors and, the tribunal referred, “that might involve the taxpayer seeking to understand the basis upon which an entry on his return has been made by the agent.”
However pointing to the decision in the 2012 case Hanson Vs HMRC, the tribunal reminded that a taxpayer cannot simply leave everything to his or her agent, who in this case was Montpelier.
This means the taxpayer is actually obliged to ensure that the agent has not made any errors and, the tribunal referred, “that might involve the taxpayer seeking to understand the basis upon which an entry on his return has been made by the agent.”
PS for the lovely accountants on here who have helped me in the past, please don't think this as a bashing of your profession, its an indictment of the people who don't take the time to understand every aspect of their own business, or rely on others blindly.
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