Accountants Knew Risks Of Tax Scheme, Developer Says

Law360, London (February 13, 2020, 5:21 PM GMT) -- A British property developer has fired another salvo at an accounting firm sued for allegedly recommending a failed tax scheme, arguing that the consultant was obliged to weigh the risks of the plan even if it didn’t technically offer “advice.”

Central Developments (UK) Ltd. told the High Court in a filing Monday that Leon Charles can’t walk back its role in encouraging the property developer to put £2 million ($2.6 million) into a tax scheme that the U.K. tax authority later disallowed.

Even if the accounting firm did not technically give “advice,” it assessed what Central Developments wanted and acted as...

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