Mark Lee introduces the latest official guidance as to professional conduct in relation to taxation especially in the context of tax planning advice.
The latest version of ‘Professional Conduct in Relation to Taxation’ (PCRT) was issued by the UK’s main professional accounting and tax bodies on 24 February 2014. Developments over the last three years have necessitated some significant changes to this guidance.
PCRT is intended to assist and support accountants and tax advisers as regards how they apply the fundamental ethical principles to tax-specific situations especially concerning their relationship with clients and with Revenue authorities.
The previous version of PCRT, on which I commented for AccountingWEB in 2011, had itself benefitted from a substantial rewrite that cut the length of previous guidance by more than 50%. It still ran to under 10,000 words. The new version is longer than this but is still...