PCRT sets out the principles and standards of behaviour that all members and students must follow in their tax work. The latest version came into effect on 1 March 2017 and has now been republished in a digital format designed to make it easier to navigate.
PCRT sets out the principles and standards of behaviour that all members and students must follow in their tax work. It has been updated making it easier to navigate with a new digital structure. This edition is effective from 1 March 2019 and can be found here.
PCRT now consists of the fundamental principles and the standards for tax planning.
PCRT is supported by supplementary help sheets (which replace Parts 3 and 4 of the 2017 edition of PCRT).
- PCRT Help sheet A: Submission of tax information and Tax filings
- PCRT Help sheet B: Tax Advice
- PCRT Help sheet C: Dealing with errors
- PCRT Help sheet C2: Dealing with errors - members in business *New*
- PCRT Help sheet D: Request for data by HMRC
- PCRT Help sheet E: Members’ Personal Tax Affairs
In this latest update, the fundamental principles and standards have not changed. The help sheets represent guidance designed to help members apply the Fundamental Principles and Standards in their tax work. While not mandatory a member in a disciplinary case may be asked to explain why they did not follow the help sheet guidance. For example, a case might be brought against a member under the fundamental principle of Integrity. As part of the investigation by the disciplinary body the member could be asked to explain why, as recommended in the ‘Dealing with errors’ help sheet, they had not advised their client to make good the tax underpayment which they had identified in the client’s tax affairs.
From 1st June 2020 PCRT is also supported by topical guidance as follows:
- Topical guidance covering the application of professional standards to the provision of R&D tax credit services
Previous editions can be found below.