You will only be safe in divulging information to either a) the executor of the Will or b) the administrator of the estate. Both of these are appointed, on application, by the Probate Office.
You can, if you so wish, divulge information to either of these before they are formally appointed. But you will be taking a risk.
The ICAEW allows members who are fully retired and no longer doing professional work to apply for life membership. When granted, the member does not have to pay membership fees for the rest of his/her life.
You mention that the money is owed in relation to two companies. Be aware that if the money is owed by a company, then you must sue the company and not the directors or shareholders.
Accountants in practice had to put in a lot of exertion and hours of study last year to keep abreast of all the legislation and rules arising from the Covid pandemic. Many found attending outside structured seminars a distraction from necessary self-study to keep abreast of Covid requirements.
I have noticed lately that small businesses are doing their best to be quoted a low fee. I suspect that one of the reasons behind this is that they realise that the smaller the fee, the less work the accountant can afford to spend on the job. He is likely to skimp on verifying the facts, accept without question all the information that the client provides. The accountant is likely to gravitate to a a "file-only" tax return. Thus the client will kill two birds with one stone i.e. lower fee and no questions asked.
The client wanted you to prepare false accounts. The client was abusive. These two combined would furnish sufficient reason for you to terminate the association. You were willing to continue the association and complete the work if the client remedied the above problems. You are entitled to be paid at least for the work done to date and possibly for the whole job as its non-completion was not your fault. Raise an invoice and send it to the client. Consider suing in the Small Claims Court if your invoice is not paid. The client is unlikely to defend the action as he would not want his crooked dealings exposed to the world.
It is a crime for a client to lodge a false tax return. If the accountant is aware beyond a reasonable doubt that the Return is false, he cannot file it with HMRC, otherwise he will be complicit in the crime.
It is a crime for a client to lodge a false tax return. If the accountant is aware beyond a reasonable doubt that the Return is false, he cannot file it with HMRC, otherwise he will be complicit in the crime.
The government will not legislate unless the change is in the public interest. The obvious solution is registration of accountants. But the difficulty is in a) defining what accounting is and b) enforcing it. Australia has gone some way in achieving this. Only registered tax agents may lodge Tax Returns. The qualifications to be a registered Tax Agent are much the same, exam-wise and experience-wise, as to be admitted as an accountant to an accountancy body. In fact, the registering body will accept an accountancy degree or member of an accountancy body as sufficient qualification. As most accountants cannot practise without being registered tax agents, the result is that only qualified accountants can practise. There are separate registrations for company auditors and for company liquidators. However, until recently, there was no impediment to an accountant employing as many unqualified accountants as he pleased once he had obtained his practising qualification. This is now being stamped out by requiring all Tax Agents to use a mobile phone with fingerprint facilities. Each person who contacts the Tax Office e.g. by filing a Tax Return must verify his identity with a fingerprint.Therefore, in practice, all staff will have to be fingerprinted and registered with the Tax Office. No doubt, in time, to be so registered, one will have to have accountancy qualifications.
My answers
Hi, Australian law. I recently had a case on all fours with the OP. Recent Australian legislation allowed the valuation to be deemed the cost price.
You will only be safe in divulging information to either a) the executor of the Will or b) the administrator of the estate. Both of these are appointed, on application, by the Probate Office.
You can, if you so wish, divulge information to either of these before they are formally appointed. But you will be taking a risk.
The ICAEW allows members who are fully retired and no longer doing professional work to apply for life membership. When granted, the member does not have to pay membership fees for the rest of his/her life.
You mention that the money is owed in relation to two companies. Be aware that if the money is owed by a company, then you must sue the company and not the directors or shareholders.
Accountants in practice had to put in a lot of exertion and hours of study last year to keep abreast of all the legislation and rules arising from the Covid pandemic. Many found attending outside structured seminars a distraction from necessary self-study to keep abreast of Covid requirements.
I have noticed lately that small businesses are doing their best to be quoted a low fee. I suspect that one of the reasons behind this is that they realise that the smaller the fee, the less work the accountant can afford to spend on the job. He is likely to skimp on verifying the facts, accept without question all the information that the client provides. The accountant is likely to gravitate to a a "file-only" tax return. Thus the client will kill two birds with one stone i.e. lower fee and no questions asked.
The client wanted you to prepare false accounts. The client was abusive. These two combined would furnish sufficient reason for you to terminate the association. You were willing to continue the association and complete the work if the client remedied the above problems. You are entitled to be paid at least for the work done to date and possibly for the whole job as its non-completion was not your fault. Raise an invoice and send it to the client. Consider suing in the Small Claims Court if your invoice is not paid. The client is unlikely to defend the action as he would not want his crooked dealings exposed to the world.
It is a crime for a client to lodge a false tax return. If the accountant is aware beyond a reasonable doubt that the Return is false, he cannot file it with HMRC, otherwise he will be complicit in the crime.
It is a crime for a client to lodge a false tax return. If the accountant is aware beyond a reasonable doubt that the Return is false, he cannot file it with HMRC, otherwise he will be complicit in the crime.
The government will not legislate unless the change is in the public interest. The obvious solution is registration of accountants. But the difficulty is in a) defining what accounting is and b) enforcing it. Australia has gone some way in achieving this. Only registered tax agents may lodge Tax Returns. The qualifications to be a registered Tax Agent are much the same, exam-wise and experience-wise, as to be admitted as an accountant to an accountancy body. In fact, the registering body will accept an accountancy degree or member of an accountancy body as sufficient qualification. As most accountants cannot practise without being registered tax agents, the result is that only qualified accountants can practise. There are separate registrations for company auditors and for company liquidators. However, until recently, there was no impediment to an accountant employing as many unqualified accountants as he pleased once he had obtained his practising qualification. This is now being stamped out by requiring all Tax Agents to use a mobile phone with fingerprint facilities. Each person who contacts the Tax Office e.g. by filing a Tax Return must verify his identity with a fingerprint.Therefore, in practice, all staff will have to be fingerprinted and registered with the Tax Office. No doubt, in time, to be so registered, one will have to have accountancy qualifications.