How can we help?
Contact our team anytime for a no-obligation chat about your legal matter. Once you speak with us, you will notice the difference yourself.
Call 0207 790 7311 or email contact@freemanharris.co.uk.
Professional Negligence Claims Against Accountants
We provide specialist legal advice to individuals and businesses who have suffered financial loss as a result of an
accountant’s negligence, errors or professional advice.
Claims Against Accountants
Accountants are trusted to prepare accurate financial statements, provide sound tax advice, and meet the professional standards set by their regulatory bodies. Where an accountant falls below the required standard and you suffer financial loss as a result, you may have a claim for professional negligence.
Freeman Harris acts for individuals and businesses in claims against accountants, auditors, and other financial reporting professionals. Our professional negligence team is led by Avi Gordon, a Legal 500-recognised Senior Solicitor and member of the Professional Negligence Lawyers Association.
Common grounds for claims against accountants
- Negligent tax advice leading to an avoidable tax liability, penalty, or missed relief
- Failure to identify or report material errors or fraud in financial statements
- Negligent audit work, including failure to detect significant misstatements
- Incorrect advice on the financial implications of a transaction or corporate restructure
- Negligent preparation of accounts used in a business sale or acquisition, leading to an inflated or deflated valuation
- Failure to advise on the tax consequences of a proposed arrangement
What you need to establish
To succeed in a claim against an accountant, you need to demonstrate three things: that the accountant owed you a duty of care, that they fell below the standard expected of a competent accountant practising in the relevant specialism, and that you suffered loss that was directly caused by that failure.
Expert evidence from a suitably qualified accountant is usually required to establish the standard of care and whether it was breached.
The claims process
Claims against accountants are subject to the Professional Negligence Pre-Action Protocol. We will draft the Letter of Claim and manage the protocol process on your behalf. The accountant’s professional indemnity insurer will typically respond and conduct negotiations. Many claims are resolved at this stage without the need for court proceedings.
The limitation period for claims against accountants is generally three years from the date you knew or ought to have known of the negligence and loss. A longstop of fifteen years applies. Where you have only recently become aware of a potential problem, we assess the limitation position as part of our initial review.
Contact us
If you believe an accountant has acted negligently and caused you financial loss, contact us for an initial review. We offer a staged approach to assessing and pursuing the claim.
Professional Negligence Claims Against Accountants Contents
Professional Negligence Team
Avi Gordon
Senior SolicitorAvi has over a decade’s experience dealing with professional negligence disputes, with particular experience in complex claims involving accountants and other financial professionals. He advises clients on claims arising from negligent advice, errors and financial loss.Isabel Fisher
SolicitorIsabel supports clients in accountant negligence claims by reviewing case details, preparing documentation and assisting with correspondence. She takes a thorough and practical approach to helping clients understand their options and progress their claims.
Professional Negligence Fees
Service
Fees
Professional Negligence Fees
Please contact us to receive a fee quote for your matter
Claims Against Accountants FAQs
- My accountant gave me advice on a tax structure that HMRC has now challenged. Can I claim?
Where an accountant advised on a tax arrangement that has been successfully challenged by HMRC, and the advice fell below the standard expected of a competent tax adviser, you may have a claim for the resulting tax liability, penalties, and interest. We would assess whether the advice was negligent and whether a claim is viable before any HMRC settlement is concluded.
- I used an accountant on a business acquisition and later discovered the accounts were materially wrong. What are my options?
If the accountant prepared or approved accounts containing material errors, and you suffered loss by relying on those accounts in completing the acquisition, a negligence claim may be available. We would also consider whether a warranty or misrepresentation claim against the seller is available in parallel.
- Can I claim against an accountant whose firm has since closed?
Regulated accountants are required to maintain professional indemnity cover, including run-off cover after a practice closes. The cover often extends to claims made after the practice has ceased. We advise on identifying and pursuing the relevant insurer.
Contact our Professional Negligence Team
If you would like to discuss how we can help, please complete the form, and we will be in touch.
A little about you and what you need will help us with our response.
A little about you and what you need will help us with our response.