TaxCorporate TaxBeyond a doubt with Judith Tydd

Beyond a doubt with Judith Tydd

Justice in this country is based on the principle of innocent until proven guilty, so how can this be applied to a newly proposed penalty for tax advisers?

Judith Tydd, reporter at Accountancy Age

The Working with Tax Agents consultation paper has raised the idea of
penalising those who fail to take reasonable care in dealing with tax affairs
and has created concerns over how it will be implemented.

There are a tiny proportion of ‘incompetent’ advisers in the UK, deliberate
or otherwise. Anecdotal evidence suggests the figure could be less than 2% of
registered advisers.

While action must be taken in stamping out blatant and deliberate abuse,
quantifying what constitutes unreasonable care requires considerable
consultation. It’s not a phrase that lends itself to clarity.

One factor muddying the water is the complexity of the UK tax system, which
demands more time than ever keeping up with regulatory and compliance changes.

HM Revenue & Customs will need to establish a body of evidence against an
adviser which conclusively demonstrates they have breached professional
protocol, subsequently resulting in sanctions being imposed.

But even experienced, highly skilled tax advisers are not immune from making
the odd mistake and benefit of the doubt must be employed in weeding out the
right advisers.

Judith Tydd is a reporter on Accountancy Age

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