In a rallying cry for the tax profession, Hayes said: ‘Any chartered accountant who practices and offers taxation services today must of necessity be constantly upgrading his knowledge of tax.’
He also highlighted the professions’ lack of VAT knowledge.
‘VAT and accounts, however, are not comfortable bedfellows,’ he said.
‘I want to see chartered accountants far more involved in and competent to deal with VAT and all its ramifications,’ he added.
Despite these concerns, Hayes praised the increased emphasis on continuing professional education, and said the Tax Faculty would build on its reputation as being an essential body for chartered accountants working in tax.
Hayes, a partner at mid-tier firm Buzzacott, was appointed chairman at the Tax Faculty’s annual general meeting a month ago and will serve two-years in office. He replaced Michael Sherry, a founding member of Ernst & Young’s oil industry tax group.
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