Devine v McAteer & Anor [2008] NICh 18 (18 December 2008)

Devine v McAteer & Anor [2008] NICh 18 (18 December 2008)

The defendant, as accountant and tax adviser, failed to ensure the plaintiff's investment was employed in compliance with EIS statutory requirements, resulting in the loss of tax relief. This constituted negligence and breach of contract, entitling the plaintiff to damages equivalent to the lost relief and interest from the date of the writ.

Citation
[2008] NICh 18
Parties
Plaintiff: Sean Devine; Defendant: Daniel McAteer; Defendant: Gavin McGill
Jurisdiction
Northern Ireland
Judgment Date
18 December 2008
Procedural Posture
Civil / Judgment After Trial
Outcome
Judgment for the plaintiff against Daniel McAteer; judgment for Gavin McGill.
Legal Topics
Enterprise Investment Scheme, Director's Duties, Accountant's Duty of Care, Tax Relief Withdrawal, Breach of Contract, Breach of Fiduciary Duty
Company Law Tax Law Professional Negligence Enterprise Investment Scheme Director's Duties Accountant's Duty of Care Tax Relief Withdrawal Breach of Contract +1 more

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Parties

Sean Devine

Plaintiff

Daniel McAteer

Defendant

Gavin McGill

Defendant

Procedural Posture

Civil / Judgment After Trial

Legal Issues

  1. 1 Whether the defendant, as accountant and tax adviser, was negligent and/or in breach of contract or fiduciary duty in failing to secure tax relief for the plaintiff under the Enterprise Investment Scheme.
  2. 2 Whether the defendant, as director of Roe Developments Limited, owed and breached a duty of care to the plaintiff regarding the investment's compliance with statutory requirements.

Ratio Decidendi

The defendant, as accountant and tax adviser, failed to ensure the plaintiff's investment was employed in compliance with EIS statutory requirements, resulting in the loss of tax relief. This constituted negligence and breach of contract, entitling the plaintiff to damages equivalent to the lost relief and interest from the date of the writ.

Court Disposition

Judgment for the plaintiff against Daniel McAteer; judgment for Gavin McGill.

Orders

  • Defendant Daniel McAteer to pay the plaintiff £20,000 plus interest of £2,850, totaling £22,850.