TaxCorporate TaxBudget 09: Taxman could fine advisers under new proposals

Budget 09: Taxman could fine advisers under new proposals

Working with tax advisers is set to change, through new powers for the taxman, if new consultation is anything to go by

The taxman could dish out financial penalties to tax advisers for
incompetence or noon-compliance, under a consultation issued during the Budget.

‘Working with Tax Agents’, a 43-page consultation, flags up the possibility
of financially penalising tax advisers for failing to take reasonable care, plus
fine and monitor advisers who have deliberately hindered HM Revenue &
Customs.

The measures could weed out poor tax advisers, said experts, but they raised
concerns about the extension of HMRC’s powers.

‘If you’re competent then the bane of your existence, incompetent advisers,
could be forced out,’ said Tenon director of taxation Roger Barnard.

‘But if you make the odd mistake, how far would HMRC push these powers?
What’s aimed at cowboys could be extended.’

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