TaxCorporate TaxCall for action on carousel fraud advisers

Call for action on carousel fraud advisers

The taxman has not done enough to report advisers involved with carousel fraud, the public accounts committee has concluded

In a report on the fraud, the parliamentary body said: ‘[HM Revenue &
Customs] was unable to show that it had actively stepped up the reporting of
accountants [and] tax advisers to their professional bodies for instances of
misconduct in response to the Committee’s previous report.

‘We recommended that the department should make greater use of sanctions
available to professional bodies to investigate unethical conduct by their
members,’ the report said.

In a letter issued by former chairman Sir David Varney in late 2005, the tax
authority implied that many advisers thought carousel fraud was just
sophisticated tax planning.

The institutes have argued that if there are issues with members, the taxman
should refer them to be disciplined by the institutes.

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson