The consultation opened by HMRC 19 March 2020, to consider standards in the tax advice market, was closed for further representations 28 August 2020.

The consultation covered a call for evidence on the following policy issues:

  • the scope of the market for tax advice and services
  • the characteristics of good and bad practice
  • current government interventions
  • international models
  • possible approaches to raising standards

This consultation will not phase qualified practitioners who may have strong views about so-called tax practitioners who are offering unqualified advice. However, the consultation has a wider remit. In the opening paragraphs of the formal consultation document, under the section – who should read this – HMRC confirm that the consultation is aimed at:

Anyone who provides or receives tax advice. For example, accountants, tax agents, legal professionals, payroll professionals, bookkeepers, insolvency practitioners, financial advisers and their clients. Charities and other voluntary organisations that help people with their tax affairs. Software providers and employment agencies, umbrella companies and other intermediaries who arrange for the provision of workers to those who pay for their services, and end engagers of labour.  

It will be interesting to see how any conclusions drawn are subsequently enforced; and by whom…  

Source: New feed