Accounting Firm, Recycler Settle Bad Tax Advice Suit

Law360, London (September 4, 2019, 2:37 PM BST) -- An accounting company has reached a settlement over claims by a recycling company that it gave it negligent advice for investments that were later targeted by U.K. tax authorities, new court documents reveal.

The claim, filed by plastic bag recycler J&A Young (Leicester) Ltd. and its affiliate Lunette Properties Ltd., has been stayed at the High Court after they and the accountant, Wright Vigar Ltd., agreed to terms set out in a confidential out-of-court agreement.

Deputy Master John Linwood signed off the stay on Sept. 3, saying in his order that the terms of the settlement will remain confidential between the two sides...

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