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.’

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

2m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

4m Emma Smith, Managing Editor
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

8m Emma Smith, Managing Editor
OTS report: Corporation tax should follow accounts

Corporate Tax OTS report: Corporation tax should follow accounts

10m Alia Shoaib, Reporter
HMRC tax evasion assistance requests double in five years

Corporate Tax HMRC tax evasion assistance requests double in five years

11m Emma Smith, Managing Editor
Spring Budget 2017: Making Tax Digital

Business Regulation Spring Budget 2017: Making Tax Digital

1y Shereen Ali, Deputy Editor
Tax fraud loses HMRC £16bn

Corporate Tax Tax fraud loses HMRC £16bn

1y Emma Smith, Managing Editor
HMRC nets £2.6bn in corporate tax from big businesses

Corporate Tax HMRC nets £2.6bn in corporate tax from big businesses

1y Accountancy Age editorial