Tax institute releases carousel correspondence

Tax institute releases carousel correspondence

CIOT reveals letters it sent to Sir David Varney complaining about attempts to slur advisers over missing trader frauds

The Chartered Institute of Taxation has published its correspondence with Sir
David Varney that sparked a row over advisers’ alleged involvements in carousel
fraud.

Varney wrote to the institutes in December asking them to issue statements
condemning the frauds, saying that some advisers thought carousel fraud was just
tax planning.

The CIOT and other institutes have resisted issuing the statements however,
saying that it condemns fraud anyway and that the suggestion that some thought
this was tax planning was ‘crass and stupid’ and a slur on advisers.

In its letter, the CIOT asks HMRC to hand over details of advisers
participating in fraud in order to pursue disciplinary action, and proposes to
help in raising awareness amongst those who might become unwitting participants.

Ian Heron, of Central Compliance at HMRC, replied that the department would
follow up the suggestion that poor conduct by advisers be disclosed to their
institutes.

To read the correspondence go to
www.tax.org.uk/showarticle.pl?id=4223

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