If the proposals are put into law it would extend the reporting exemptions already available to lawyers encountering information in privileged circumstances – where there is no issue of furtherance of criminal purpose – to ‘other relevant professional advisers,’ including accountants and tax advisers.
‘We are delighted that the Home Office has taken this step, and hope that it results in a rapid change in the law,’ said Karen Silcock, chairman of the ICAEW?s money laundering working party. ‘The changes now under discussion have the potential to remove inequalitites, to the benefit of both clients and advisers, without harming the flow of valuable anti-money laundering intelligence to the authorities.’
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements