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VAT
Case Example 6 -

 

Acting as Expert on behalf of the Joint Disciplinary Scheme of the ICAEW in the investigation of the quality of the work of the auditors of Independent Insurance Plc. Our work involved reviewing the audit work performed in light of applicable auditing standards, interviewing key members of the audit team and preparing a detailed report setting out our findings.

Acting as Expert on behalf of a commercial claimant, a major oil company in its claim against an overseas purchaser for breach of contract following Government intervention. Our work has demonstrated the substantial losses suffered by the Claimants and our calculations, involving the application of Platts indices, and enabling the claimant to successfully launch its claim in international arbitration proceedings.

Acting as Expert on behalf of the claimant who because of injuries suffered in an accident was unable to continue running his property development business. Our work involved calculating the claimant's loss of earnings and investigation a number of lost opportunities for the claimant.

Acting as Expert on behalf of the prospective claimant, a fully listed PLC, in connection with the sale of part of its business where the assets were subsequently found to be significantly overstated. Our work involved investigating and assessing whether there had been any fraud, the extent of the fraud and whether a case could be made against the auditors for procedural failures in this regard.

Acting as a Single Joint Expert in a matrimonial dispute. Our work involved calculating the future income stream from the family business, valuing the parties shareholdings in a number of businesses and providing information on specific tax issues.

A large chain of public houses was not registered for VAT and the VAT at stake was in the region of £2m. The defendant was charged with deliberately evading VAT by not registering the companies for VAT. The case involved tracking the movement of monies and establishing the VAT liabilities of such movements. We were able to reduce the purported tax at risk to £1.2m and the matter was settled out of court.