Accountants could be next for tax amnesty - Accountancy Age.
The Age notes:
Fresh speculation surfaced over the weekend that accountants could be the next profession to be offered a tax amnesty, according to reports in in the Mail on Sunday.
HMRC is currently running a new disclosure opportunity for the medical profession but the press have speculated that accountants, lawyers and construction company bosses could be the next to be targeted
Let me suggest what a tax amnesty for accountants should be: three years instead of four at HM's pleasure, I think.
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Couldn´t believe it when I read that on Accountancy Age.
Not sure entertaining them at HM´s pleasure is necessarily a good idea. They might teach some of the more genuine inmates some bad habits.
Maybe better to look at their assets under the Proceeds of Crime Act 2002?
How would the professional bodies view a member taking advantage of the amnesty? Surely an admission of breach of ethical guidance?
Regrettably I think time at HM’s pleasure i the one thing professionals really fear
You can take their assets and within reason they can pretend it has not happened
Lock them up and they’re deeply affected with regard to social status
That really hurts them
No one, on the other hand would even notice if they were thrown out of the ICAEW. And ethics? Are you joking? If the ICAEW had ethics it would ban its members working in tax havens – but does not
Do both by all means, by HMP has to be the destination for bent accountants, I think
Richard,
I was joking about the ethics – the industry has lost all sense of professionalism. My point was surely signing for an amnesty is admission that you´ve broken the rules – rather than simply having gamed the letter of them – be fun to see the semantic shenanigans the ICAEW etc come out with in that event.
I just wonder about prison and social status. When you get a national newspaper running TV ads for an article on “celebrity criminals” you can see a demand for them.
Still think it´s better to hit them in the wallet – and damn hard rather than have them cost us even more money. Given how much social status is the result of money today will still do what you want.
Anyhow, all this is dreaming – is anything likely to happen, really?
@David
Looks like we’re close to agreement!
Is this likely? I don’t know.
And the trouble is will HMRC anyway report them to the ICAEW?
If not the crooks will stay in business
As seems likely in medicine
Richard