HOSPITAL CONSULTANTS TAKE PROFESSIONAL NEGLIGENCE ACTIONS AGAINST FORMER ACCOUNTANTS
A number of high profile Hospital Consultants have issued High Court professional negligence actions against their former Accountants arising out of the provision of negligent advice. The actions arise following a Revenue audit into the tax affairs of a number of Hospital Consultants, which resulted in the Hospital Consultants being fined thousands of euro in unpaid taxes.
The Accountancy Firm in question is alleged to have advised a large number of Medical Consultants on their tax affairs over a number of years. The individuals who have initiated High Court proceedings are among the 30 or so prominent medical professionals whose names have appeared as Tax Defaulters since the Revenue began probing a ‘tax planning strategy’ that was being encouraged among the medical profession.
Revenue has been investigating the tax affairs of Medical Consultants as far back as 2010, when Revenue officials became concerned about the practice of Medical Consultants setting up companies through which they directed their income and expenditure. Since the investigation has begun, it has generated €54million in unpaid taxes and penalties from over two hundred Consultants.
The Consultants who have issued professional negligence actions against their Former Accountants are seeking damages for the losses that they have incurred as a result of the negligent advice of their Accountants and Orpen Franks is currently involved in advising a number of the Consultants affected.
If you, require any advice in relation to a potential professional negligence action, please contact our specialist professional negligence solicitors who will advise you.