Responding to HMRC’s consultation Enhancing HMRC’s ability to tackle tax advisers facilitating non-compliance the CIOT welcomes recognition that ‘most tax advisers are competent and adhere to professional standards’ and ‘add value to the tax system by supporting people to get their tax right’. Investment in the modernisation of HMRC’s agent registration services is also supported with registration ‘an important first step that can be built on in relation to tackling poor practice in the tax advice market’.
Although not completely clear from the consultation document the Institute understands that the harm HMRC seek to address here fall into two categories:
aggressive deliberate harm by promoters and those submitting spurious claims; and
harms caused by agents who do not meet adequate standards in some cases demonstrating very low levels of competence which cause or contribute towards non-compliance for their clients.
Clear definitions of key terms...
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Responding to HMRC’s consultation Enhancing HMRC’s ability to tackle tax advisers facilitating non-compliance the CIOT welcomes recognition that ‘most tax advisers are competent and adhere to professional standards’ and ‘add value to the tax system by supporting people to get their tax right’. Investment in the modernisation of HMRC’s agent registration services is also supported with registration ‘an important first step that can be built on in relation to tackling poor practice in the tax advice market’.
Although not completely clear from the consultation document the Institute understands that the harm HMRC seek to address here fall into two categories:
aggressive deliberate harm by promoters and those submitting spurious claims; and
harms caused by agents who do not meet adequate standards in some cases demonstrating very low levels of competence which cause or contribute towards non-compliance for their clients.
Clear definitions of key terms...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
