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Taxation understands that a unified approach by the professional bodies on the Working with Tax Agents proposals has led to productive discussions with HMRC.
The professional bodies have queried whether there is any gap in HMRC’s existing powers, and have outlined the ways in which the current provisions could be used to meet the areas of concern.
In turn, HMRC are now going to consider with their legal team whether they still believe that there are areas where their powers are insufficient.
If any gaps are identified, then it will be necessary to see whether existing provisions can be modified, or whether there is still a need for completely new legislation.
Once this has been done, the profession has agreed to work together in order to produce a workable and sensible solution.
It appears, however, that if any new legislation is required at all it would be very different from the draft issued in February.
