I reckon there’s a greater than 65% chance they don’t have a hand and have been bluffing all along.
some good news out of the sale of WTT Group. It appears to have been a share sale of HoldCo. So as well as the assets the purchaser acquired liabilities too. If they’re sensible they will have various warranties and indemnities in place against the vendor too. As a proper firm the acquirer will have PI and run off cover. To cover, for example, claims for professional negligence in advising clients to have loans written off despite that creating a stand alone income tax and IHT charge of which said clients weren’t warned. Or then telling those clients not to disclose it to HMRC. Or perhaps, for example, advising clients to pursue a doomed “resolution strategy” without warning that failure to pay or declare the LC would add at least 15% penalties. And risk HMRC pursuing tax on fees.
Time to send ambulance chasers after the ambulance chasers who are off in their getaway car?!
some good news out of the sale of WTT Group. It appears to have been a share sale of HoldCo. So as well as the assets the purchaser acquired liabilities too. If they’re sensible they will have various warranties and indemnities in place against the vendor too. As a proper firm the acquirer will have PI and run off cover. To cover, for example, claims for professional negligence in advising clients to have loans written off despite that creating a stand alone income tax and IHT charge of which said clients weren’t warned. Or then telling those clients not to disclose it to HMRC. Or perhaps, for example, advising clients to pursue a doomed “resolution strategy” without warning that failure to pay or declare the LC would add at least 15% penalties. And risk HMRC pursuing tax on fees.
Time to send ambulance chasers after the ambulance chasers who are off in their getaway car?!
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