A moral dilemma
Pretty simple question though ethical minefiled.
I have 2 clients who deal with each other in a business sense.
I know that 1, the receiver of services is about to go into administration with no real possibility of the business being saved nor any creditors getting their money.
So do I inform my other client who is currently owed a relatively modest but not insignificant sum. They are not currently doing any work together.
I am mindful that I have this information in my professional capacity and therefore in confidence, but also that the surviving client is likely to be annoyed that I did not warn them. It is also the case the client is resaonably new to our firm and we were recommended by the business which is about to fail.
- Your fondest calculator memories 1,235 45
- practice planning 153 3
- Accounts Software 712 19
- Company Pension Contributions 2013/14 239 9
- Goodwill Valuation Prior to April 2002, with the intention of selling on due to personal changes 499 14
- Dividend Vouchers 377 5
- Gift to employee 414 14
- Profit accruing in fiduciary or representative capacity 162 3
- MS Surface Pro 3 152 2
- HMRC Penalties - are they enforceable? 1,119 37
- Child and Working Tax Credits and sudden increase in investment income - does this trigger a claw back? 187 3
- Anybody have that old ACCA Student Training Record (STR1) 160 1
- Question re Career choice... 1,666 10
- Which address 1,080 12
- Does anybody still use a Filofax? 615 20
- Financial statements in Word, with formulas 1,524 17
- R&D tax claim 265 7
- You think HMRC are inefficient? 553 9
- Tax Allowance on University Course 211 1
- Transfer of a business 134 1
- DTR : TIOPA 2010 Section 42 489
- CTA study material 467
- Sect 102 TMA 1970 339
- Pre incorp expenses 323
- Relief on French Tax Deposit? 274
- Anyone have clients that use Pay4Later to offer customers credit? 265
- What is the tax position if I am working overseas but via a UK agency? 214
- Gift Aid after 5 April, before 31 Jan - Tax Credits 169
- Taxation of partners in an LLP following new rules 141
- Employment related securities question 129