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HMRC Publishes New Standards For Tax Agents

by Robert Lee, Tax-News.com, London

08 August 2016


UK tax authority HM Revenue and Customs (HMRC) has published guidance that sets out the standards it expects tax agents to follow.

HMRC said that it expects agents to disclose all relevant information to it, and to keep correct and up-to-date knowledge of the areas of tax they deal with it. It explained that agents should work to prevent errors in their clients' tax calculations or claims, and advise clients to take steps to rectify any errors found in their tax affairs.

The guidance also stipulated that agents should comply fully with tax laws and regulations, and ensure their own tax affairs are correct and up-to-date. It added that agents should consider the risk to the reputation of tax agents of any arrangements that they advise clients about, including tax planning schemes.

TAGS: tax | business | revenue guidance | law | United Kingdom | tax authority | professionals | tax planning | HM Revenue and Customs (HMRC) | standards | regulation | HM Revenue and Customs (HMRC)

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