by Nick Robinson | Mar 21, 2013 | Accounting, Business, Taxation
Failing to provide proper information for tax returns sent to HM Revenue & Customs can have adverse legal consequences, as a recent court case involving a former football agent has helped to demonstrate. Ian Elliott, 54, from Newcastle, was recently subjected to a six-month prison sentence suspended for two years following his admittance of a charge of mishandling the financial affairs of England and Liverpool footballer Stewart Downing.
Doncaster Crown Court heard how Mr Elliott failed to provide adequate information for tax returns during his tenure as secretary for Stewart Downing Promotions Ltd – a service company set up to manage several matters relating to Downing, including his image rights. However, though Mr Elliott regularly handled large sums of money as part of this job, one accountant in court cited his work as “one of the worst accounts I have seen in my working life”.
This case provides a worthwhile reminder to companies in many different sectors and all over the country of the importance of maintaining accurate financial records. Indeed, one wise manner of maintaining accurate financial records can be through outsourcing the task of doing so to a firm of experienced and reliable online accountants like those employed by Yorkshire Accountancy. Perusing the Yorkshire Accountancy website should assist you in discerning how services provided by Yorkshire Accountancy could help you and people like you to avert any legal problem like that experienced by Ian Elliott.