Film Investor Says Bad Tax Advice Suit Against EY Not Late

Law360, London (October 1, 2019, 2:41 PM BST) -- The chairman of a British motor-racing club has hit back in his professional negligence claim against Ernst & Young LLP over losses he suffered in a film tax scheme, saying that a “reasonable" tax adviser should have seen that the attitude of the U.K.’s tax authority toward the investments had hardened.

John Grant maintains in his High Court claim that, although he has considerable business experience, he lacks expertise in personal taxation and therefore relied on the Big Four audit company’s advice. The chairman of the British Racing Drivers' Club claims that, as a result of that trust, he took part in...

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