Are Accountants Liable For Making Mistakes On My Business Account?

Now there are a few ways to remedy this, but unfortunately If your company can afford to pay the fees concerned, then the best advice is always to pay as soon as possible, and remediate later. If your business cannot afford to pay, then HMRC has the legal right to 'extract' the payment from your company; it may mean closing down, which nobody wants. By paying the fees litigation can be pursued, either from the accountants professional indemnity insurance (if they have this, it's not a legal requirement) or by suing them personally. Filing a suit against them personally is often the only option left for many SMEs, but the compensation for such a case rarely covers the requirement.

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