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Testimonials

The Importance of Trusted Advisers…

This week we have all been reminded of the importance of using trusted advisers within the professional services industry. An accountant from Levenshulme, Manchester has just been jailed for 43 months after making £285 000 from fraudulent tax returns.

Amjad Ali created online Self-Assessment Income tax returns using some of his clients’ details to add non-existent subsistence and travel expenses as well as false self-employed work. Ali admitted to doing this between 2007 and 2013 pocketing the refunds.

At the same time as the criminal investigation, HMRC undertook a review of Ali’s clients. This investigation concluded that there was more the £725 000 in tax that had been under-declared or claimed fraudulently, Ali himself pocketing between £80 000 – £110 000 as ‘fees’.

The assistant director of the Fraud Investigation Service at HMRC, Sandra Smith,  said “As an accountant, Ali was in a position of trust and well aware that he was breaking the law. This was a well-organised, professional attempt to manipulate the UK tax system in order to steal money that should have been funding public services.

“This was an ambitious plan to steal money from UK taxpayers, which we have intercepted. Ali now has a criminal record and his professional reputation is ruined.”

In many cases clients automatically assume that their accountant can be trusted, both to do what is best for them but more importantly what is legal. When we created our advice document entitled “How to Choose and Get the Most from Your Accountant” we left out that you should check that they are doing things legally. We assumed that would be taken for granted.

If you are unsure what other things you should look out for when choosing an accountant take a look at our factsheet… http://www.pomegranateconsulting.co.uk/about_us/choose_accountant.php

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