Unless shadow advisers are effectively regulated and HMRC can act closer to real time, we will soon once again be facing calls for regulation of the whole profession, writes Ray McCann.
The shadow of the regulation of the tax profession has long hung over us whether it relates to trust in the profession tax avoidance the tax gap and so on. As various tax scandals have appeared the expectation that some form of formal regulation was needed has intensified.
I have long supported the idea that those earning their living from giving tax advice should be subject to some form of formal regulation. As is well known within the tax profession anyone can give tax advice. There is no requirement for any formal professional qualification and the term ‘tax adviser’ is not in any way protected or reserved.
In the March 2024...
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Unless shadow advisers are effectively regulated and HMRC can act closer to real time, we will soon once again be facing calls for regulation of the whole profession, writes Ray McCann.
The shadow of the regulation of the tax profession has long hung over us whether it relates to trust in the profession tax avoidance the tax gap and so on. As various tax scandals have appeared the expectation that some form of formal regulation was needed has intensified.
I have long supported the idea that those earning their living from giving tax advice should be subject to some form of formal regulation. As is well known within the tax profession anyone can give tax advice. There is no requirement for any formal professional qualification and the term ‘tax adviser’ is not in any way protected or reserved.
In the March 2024...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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