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Over the course of several editions of Chartered Accountants Tax News in March and April, we summarised the proposals in HMRC’s consultation “Raising standards in the tax advice market – strengthening the regulatory framework and improving registration” and asked for your feedback. This week we’re issuing a final reminder to let us know your views, especially on the three options presented, mandatory membership of a professional body, a hybrid HMRC and industry enforcement model, or regulation by an independent statutory body. The Institute has condensed all the proposals in this consultation into one document and encourages members to send their feedback to us by close of business on Tuesday 7 May. Email tax@charteredaccountants.ie to let us know your views.
Members may also wish to respond to the consultation themselves (closing deadline is 29 May 2024). To facilitate this, HMRC has launched a consultation survey. Alternatively, you can email raisingstandardsconsultation@hmrc.gov.uk.