An accountant who submitted corporation tax returns and accounts for a former client without their permission has been fined £10,000 by the ICAEW and severely reprimanded.
In September 2004, Terence Veeder, of Edwards Veeder, Chapel Street in Salford, submitted corporation tax computations for Elite Communications UK to HMRC for the year ended 31 December 2002. The computations – submitted without permission from the director of the company, Mr Doogan, or his advisers H W Fisher & Co - included the surrender of losses under group relief, the ICAEW’s disciplinary committee heard in April.
When Veeder submitted the corporation tax computations he knew that Elite was wholly owned by Mr Doogan, who was a former client of Edward Veeder, and who was represented by other accountants.
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