STRONG OPPOSITION has been voiced against the ICAEW’s move to outline how advising on aggressive tax avoidance is a potential disciplinary matter.
Three-quarters of the 60 readers polled online by Accountancy Age said they did not agree with the ICAEW’s decision, while 17% were completely behind the move. Some 5% agreed, but felt the guidance was too vague, and 3% were unsure.
The help sheet, released on 27 July, outlines how to spot tax avoidance schemes and advises that involvement in such schemes could see members held as bringing the profession into disrepute.
At present, the ICAEW is the only institute to have taken such a stance, while there has been a mixed reaction from other professional bodies. The UK200Group has been critical of the stance, while the Society of Professional Accountants – which represents about 1,600 accountants in small practices as well as sole practitioners – has been more supportive.
Should Should AADB disciplinary reprimands be based on the size of the sinner or the sin? Click here to vote in Accountancy Age‘s latest poll.
Student numbers among the main professional bodies have declined over the past four years. Simon Wright at CareersinAudit.com looks at why this might be happening and the call to action for the profession
CIMA study reveals qualified management accountants are paid £36,411 more than the typical British workers
ICAEW has applied to become an approved regulator and licensing authority for five reserved legal activities, restricted in three of them to the area of taxation
By threatening creditor returns, the government could undermine the UK’s World Bank insolvency ranking and cost creditors £8m a year, trade body R3 warms