Holding tax agents to account

Working with tax agents – the specific proposals by Rebecca Benneyworth – 08 Jun 2009.

In future when tax agents in the UK are shown to be negligent or incompetent:

HMRC would have to consider its relationship with the practitioner. Options for HMRC could include:

• a requirement to put matters right for the past and the future plus
  • financial penalties, and/or
  • a report to a representative body, and/or
  • an appropriate period of monitoring.
• a refusal to deal with the tax agent in future

Any financial penalties (whether resulting from careless or deliberate behaviour) could be fixed penalties, or up to a certain amount, or they could be linked to the tax at risk or the fee income or relevant turnover.

Excellent.

We’re on our way to a Code of Conduct for Taxation.