Tax avoidance ‘crackdown’

Additional ‘client list’ reporting obligations to help HMRC identify end users of tax avoidance schemes are among the options set out in the consultation document Lifting the lid on tax avoidance schemes published on 23 July. The ICAEW will consider whether accountants who run aggressive tax avoidance schemes should lose their practising certificate the Daily Telegraph reported. Frank Haskew Head of the ICAEW Tax Faculty told Tax Journal that the ICAEW had not said that such a sanction should be imposed but the possibility was ‘something that we need to look at’. See page 7.
The ICAEW published on 24 July a helpsheet to remind its members of ‘the terms of its own code of ethics and its guidance on professional conduct in relation to taxation’. The institute pointed out that the guidance is not new and is updated on a regular basis. But...