Years back a client’s cousin (C) was diagnosed with Alzheimer’s and at that time C had persuaded him to enter into a lasting power of attorney (POA) so that when the time came my client could take over managing matters. C’s condition has deteriorated to the point where my client manages all aspects of C’s finances. C’s doctor confirmed that he was no longer capable of making important decisions.
C’s affairs were in a mess and it took my client a while to establish the entries for C’s latest self-assessment return. My client found that C had unwittingly omitted untaxed interest and dividends from his tax returns for at least two years. Some shares had also been disposed of (giving rise to a capital gain) but this disposal had not been shown on the 2021-22 return. C had told him that he had no recollection...
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