London property developer sues PwC over £3m HMRC tax bill
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A UK property developer, Revelan, is suing PwC for £6.6 million in London’s High Court.
The developer alleges PwC provided “negligent” tax advice which resulted in a £3m tax bill from HMRC. Revelan alleges PwC miscalculated their tax liabilities over a five-year period, errors which PwC has admitted in a letter to HMRC, saying the errors “were unfortunately missed due to the significant complexity of their tax affairs”, Financial Times reports.
PwC’s letter continued: “We believe that our client took reasonable care historically by taking advice from PwC in preparing the tax returns and they could not have taken any further action to prevent this error from happening.
“We therefore consider the error to have arisen as a result of a mistake made by PwC despite the client taking reasonable care and do not consider it to have been as a result of carelessness on the part of our client.”
PwC UK, now led by Marco Amitrano, intends to “robustly defend” the claim.
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