Consultation on raising standards in the tax advice market
13 March, 2024
HM Revenue and Customs (HMRC) has issued a consultation on raising standards in the tax advice market.
The consultation sets out three possible approaches to strengthening the regulatory framework:
- mandatory membership of a recognised professional body,
- joint HMRC and industry enforcement, and
- regulation by a separate statutory Government body.
The consultation also explores approaches to strengthen the controls on access to HMRC’s services for tax practitioners.
This consultation is taking place during stage 1 of the Consultation Framework Process meaning that it currently seeks views on the policy options and any suitable possible alternatives, before consulting later on specific proposals for implementation.
The ATT’s will be responding to the consultation and we would love to hear your views. If you have any comments in relation to the consultation then please do contact us.