IFA negligent advice on tax scheme

Professional Negligence Claims against Finance Professionals

Our client, a successful sports professional, had instructed a financial advisor to assist with his financial affairs.

The advisor encouraged our client to invest in a scheme relating to the film industry, advising that this would generate a substantial tax relief. HMRC subsequently investigated these schemes and ruled them ineffective, which resulted in our client facing significant tax liabilities on money he never received. Our client claimed that the financial advisor’s advice was negligent, resulting in substantial losses, in circumstances where the advisor should have known that the scheme would not generate the relief he had advised it would.

Through negotiations with the financial advisor we secured a substantial sum in settlement of our client’s claim.

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