HMRC outlines basic tax standard for accountants

HMRC has published a basic set of standards it expects agents and accountants to follow in order to meet the levels of tax compliance the UK tax authority expects.

According to the document, HMRC said it expects agents to be straightforward and honest and to disclose all relevant information to the tax body and to not imply they are regulated for tax by HMRC.

Agents must keep correct and up to date knowledge of the areas of tax they deal with and work to prevent errors in clients’ tax calculations or claims. They should also advise clients to take steps to correct errors and to keep online passwords safe from unauthorised use.

Additionally, agents should comply fully with tax law and regulations, ensure their own tax affairs are correct and up to date, deal courteously and professionally with HMRC staff and consider the risk to reputation of tax agents, of any arrangements that they advise a client about – for example, tax planning schemes.

“HMRC expects high standards that promote tax compliance from anyone who offers to represent or give advice to other taxpayers,” HMRC said.