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Tax advisers should be subject to code of conduct, say readers

TAX ADVISERS should be made to abide by a new code of conduct to counter the promotion and administration of tax avoidance schemes, according to Accountancy Age readers.

However, those calling for such a code of conduct are split into two distinct groups. Some 40% of the 100 respondents said any code should be enforced by HM Revenue & Customs, while 13% of respondents felt an independent body would be better-placed.

The remaining 47% felt there is already a code of conduct jointly prepared by the professional institutes.

The question was raised in February by the Public Accounts Committee, which accused PwC and other large accountancy firms of helping multinational companies to drive down their tax bills to negligible levels by funnelling their UK profits through low-tax jurisdictions offshore.

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