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The ICAEW’s updated guidance on professional conduct for tax practitioners leaves much to be desired.
KEY POINTS
- The ICAEW has updated its professional guidance.
- Severe penalties are being deployed in the battle against tax avoidance.
- The concept of ‘bringing the profession into disrepute’ is no longer definable and has no objectivity.
- How is the ‘right amount of tax’ to be determined?
- Does ‘public perception’ help to determine whether conduct is acceptable?
The new ICAEW guidance on tax advice (Professional Conduct in Relation to Taxation at here) is a radical change in the landscape. It places an unfair burden on practitioners and it seems that this is the price for the institute having obtained the HMRC seal of approval for the guidance. Who wrote it? We are not told. Which are the amendments inserted by HMRC? We are not told. Is it right that HMRC should be involved...
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