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.
- Gave wrong info to client about tax due 492 18
- Paper tax return 106 4
- Start up allowance? 348 12
- Gov.UK = NOT OK! 74 2
- Will I need to resign? 97 1
- Invest in ''buy to let'' property 1,336 41
- Penalty for late PAYE registration? 230 3
- Fines for filing 12 months of FPS on one submission 163 1
- AIA or IFA 426 7
- Surely not? 428 10
- Batch input of data to Xero - is there an app? 629 9
- Running two businesses from the same premises 361 3
- Working out private usage for a Taxi Driver? 351 7
- Late Registration for VAT 348 11
- Old CGT loss 172 2
- When do consolidated/group accounts needs preparing? 262 5
- Nominal Ledger 350 10
- Share structures 145 5
- It’s our staff Christmas party this week, what did you do for your firm? 2,152 19
- Meal Allowance - Limited Company 345 5