Institute welcomes announcement that the government will not regulate the tax services market
The Chartered Institute of Taxation has welcomed the clarity provided to the tax services market by the government’s decision that it will not regulate tax advisers and its commitment to working in partnership with the sector to tackle bad actors.
Ellen Milner, Director of Public Policy at the CIOT said:
“The announcement at Budget of the decision that the government will not regulate tax advisers provides welcome clarity on a question that has been hanging since the previous government consulted on the matter last year.
“We also welcome the opportunity to work collaboratively with HMRC to address the unacceptable behaviour of the small number of bad actors who cast a shadow over the excellent work of the vast majority of tax agents.
“It is important that measures the government introduces to raise standards are well-targeted, proportionate, and do not bring in regulation by HMRC by the back door. Our view remains that any future regulatory model should build on the work of professional bodies in ensuring their members meet professional standards rather than introducing a new standalone regulator.”
Notes for editors:
- The CIOT’s comments on the draft Finance Bill measure “Modernising and mandating tax adviser registration with HMRC”.