Anne Redston Visiting Professor in Tax Law at King's College London assesses HMRC's proposed new powers over tax advisers
Once upon a time a magician located Aladdin's lamp by offering 'new lamps for old'. HMRC's consultation paper reassuringly entitled 'Working with Tax Agents' (WWTA) makes a similar proposal. Instead of the existing powers for dealing with wayward tax advisers the document recommends a raft of new ones. These include giving HMRC the power to:
● review working papers relating to the adviser's entire client base to see if a mistake is systemic or a one-off
● levy financial penalties linked to fees the client's turnover or the tax at risk
● refuse to allow the...
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Anne Redston Visiting Professor in Tax Law at King's College London assesses HMRC's proposed new powers over tax advisers
Once upon a time a magician located Aladdin's lamp by offering 'new lamps for old'. HMRC's consultation paper reassuringly entitled 'Working with Tax Agents' (WWTA) makes a similar proposal. Instead of the existing powers for dealing with wayward tax advisers the document recommends a raft of new ones. These include giving HMRC the power to:
● review working papers relating to the adviser's entire client base to see if a mistake is systemic or a one-off
● levy financial penalties linked to fees the client's turnover or the tax at risk
● refuse to allow the...
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:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")