HMRC's call for evidence asks for suggestions about how to raise and maintain high standards of competence and behaviour in the tax advice market in order to protect consumers and improve compliance.
ACCA is required to work within its public interest remit, to pursue policy that will pursue wider good rather than solely representing the interests of our members. We also set and maintain the standards of their members in the provision of tax services.
The Association of Chartered Certified Accountants (ACCA) is a member of PCRT (Professional Conduct in Relation to Taxation). In accordance with this our members are required to comply with the PCRT Fundamental Principles and Standards for Tax Planning. Failure to comply with PCRT standards is a serious matter and could put their membership of the professional body at risk.
Ethical behaviour in the tax profession is critical. The work carried out by professional advisers and the bodies they belong to, need to be trusted by society at large as well as by clients and other stakeholders. What a member does reflects not just on themselves but on the profession as a whole.
ACCA’s 2019 report ‘G20 Public Trust in Tax’ showed People continue to have the highest level of trust in professional tax accountants (55% trusted or highly trusted). Although accountants remain the most trusted group in the debate around tax policy and ethics, there are inevitably conclusions drawn that advisers must at the very least be complicit in the minimisation of corporate tax contributions.
Our response to this consultation should be read in conjunction with the PCRT joint response and our input into the HMRC Charter consultation as well as the wider design of the UK tax system and policy developments.
The read the full response, please download the consultation document.