Earlier this month, HMRC published its report “Raising standards in the tax advice market: how HMRC upholds its standard for agents”. This report is the result of HMRC’s commitment to review the powers it has to tackle poor agent behaviours. The report also includes a summary of findings and is part of HMRC’s wider and ongoing work to raise standards in the tax advice market. Chartered Accountants Ireland is participating in this work and met recently with the head of HMRC’s new Intermediaries Directorate to discuss its view on this ongoing project. As advised last November, HMRC recently set up a new Intermediaries Directorate which will be taking forward the work on raising standards. As this matters develops, members will be kept informed in Chartered Accountants Tax News.
The new report covers the initiatives, policies and statutory powers that HMRC currently uses. It announces four actions HMRC will undertake which are to:
- publish its approach to tax agents in a single policy statement, including how to report breaches of the agent standard;
- update and publicise the agent standard;
- continue to ensure consistency across HMRC in its overall approach to agents; and
- focus HMRC’s efforts to uphold its agent standard on the worst agent behaviours.
This publication brings together information about HMRC’s response to poor agent behaviours for the first time.
The work on “Raising standards in the tax advice market” also recognises the important service good tax advisers offer their clients, but acknowledges that more needs to be done to tackle the problem of technically incompetent, unprofessional and exploitative tax advisers.
HMRC’s work on Raising standards in the tax market is aiming to go even further this year as two consultations are expected to be launched. The first will look at options to improve the wider regulatory framework around standards and tax advice, and the second will examine tackling the high cost to taxpayers of claiming tax refunds.
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