Keeping your tax work and advice professional

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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...

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About Mark Lee

Mark Lee 2017

These days Mark Lee focuses his business actiities on  two key activities:

1 - He loves being engaged to speak on stage to audiences of accountants in all size of firms. His latest keynopte talk is: The rise of Robo-Accountants - and how to beat them. He is an accountancy focused speaker, futurist and influencer with a positive reputation for entertaining, engaging and enthusing his audiences.

2 - He loves supporting savvy sole practitioners who want more out of their practice.  More clients, more money, more time, more satisfaction - or everything!

An accountant by profession, Mark moved away from the provision of professional advice in 2006.   He is now a professional speaker, mentor, author and debunker.

Mark is passionate about helping accountants generally so is a keen blogger and commentator in the accounting and tax press. He has been consultant practice editor of AccountingWEB and has written hudnreds of articles here that have been viewed over a million times.

Check out how he could help you here: www.BookMarkLee.co.uk/savvy

Mark no longer gives tax advice despite being a past Chairman of the Chartered Accountants’ Tax Faculty. He is however Chairman of the Tax Advice Network - the UK's highest ranked lead generation website for tax advisers and accountants. The network also publishes a weekly practical tax update for accountants in general practice and full tax support, on demand too.  You can also use it as a lead generation resource for local people seeking tax advice from an accountant.

Mark has extensive network reach through his blog, talks, social media activity, articles and his regular 'Magic of Success' tips and tricks email that goes to thousands of accountants every week.

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05th Mar 2014 14:03

Most of the guidelines

are common sense, however the difference between Tax Planning and Tax Avoidance should be debated on a much wider scale. Perhaps an updated article, Mark, might be of interest.

From my experience and cases coming to light it is the artificialness of the schemes that need to be highlighted. There is a marked difference between a large corporation choosing where to pay tax and someone making an artificial loss on selling wheelie bins n'est pas.

Thanks (1)