Law and Regulation of Tax Professionals

Law and Regulation of Tax Professionals examines all aspects of the obligations and liabilities of tax advisers arising out of professional standards, contract, tort, tax legislation (including DOTAS, POTAS and DAC6) and criminal tax evasion sanctions against the backdrop of legislative and case law.

The purpose of this book is to provide a comprehensive overview of the law and associated matters concerning the regulation of tax professionals; and to seek to draw some practical lessons as to how the tax professional and the business they work in can organise themselves to comply with what is required by regulation, best practice and to eliminate so far as possible the consequences of mistakes and unforeseen occurrences.

Illustrated throughout with examples and reference to relevant case law, as well as checklists to help the reader put measures in place to protect themselves against the risk of becoming involved in breach of regulatory standards, this title is essential for tax professionals (including ICAEWs, CTAs, TEPs), tax agents, in house tax advisers, and lawyers advising on tax matters.

List of contents

1 Introduction
2 Regulatory framework: an outline
3 Professional conduct in relation to taxation (PCRT)
4 Disclosure of tax avoidance schemes
5 Contract: terms of engagement
6 Negligence and the tax professional
7 Privilege in tax disputes
8 Criminal investigations and prosecution
9 Tax evasion and tax facilitation offences
10 Anti-money laundering
11 DAC 6
12 Miscellaneous forms of regulation
Appendices
Appendix 1: Checklist of some matters to be considered on any engagement
Appendix 2: HMRC: The standard for tax agents
Appendix 3: Solicitors Regulation Authority – Warning notice
Appendix 4: The Law Society – Guidance for solicitors advising on tax
Appendix 5: Illustrative Assumptions to incorporate into Tax Professional’s terms of engagement

About the author

Julian Hickey acts as both an advocate and advisor at Burnell Chambers. Julian was called to the Bar in 1995 and he has been a partner with major City and West End solicitors’ practices. During the course of Julian’s practice in tax (advisory, enquiries and disputes work) he has developed a wide-ranging knowledge of company, partnership, intellectual property, trusts and insolvency law. This enables him to advise clients with a good appreciation of the wider issues relevant to them. He acts as an advocate and in an advisory capacity, and has appeared both on his own and as part of a team in a wide variety of cases.

Julian advises on all aspects of tax appeals (First-tier Tribunal, Upper Tribunal, Court of Appeal) and judicial review (High Court); and also acts on tax related criminal investigations (defence), matters arising from professional negligence (claims and defence). Julian represents both taxpayers and HMRC.
Adrian Shipwright is a barrister at Addington Tax Chambers (www.addingtonchambers.com). Adrian is the current Joint Head of Chambers. Adrian is a highly regarded advisor with broad experience across a range of sectors and businesses. He has particular expertise in large corporate transactions and restructuring, land development, trusts, and estates, especially intangibles, as well as celebrity and HINWI tax and cross-border matters.
Adrian has had a varied career in tax as a partner in two City law firms, a tenant for many years at Pump Court Tax Chambers, and an academic at Oxford and Professor of Business Law at King’s College, London. For 13 years he was a judge of the First Tier Tax Tribunal and of the Upper Tier Tribunal (Tax and Chancery Chamber).

Summary

Law and Regulation of Tax Professionals examines all aspects of the obligations and liabilities of tax advisers arising out of professional standards, contract, tort, tax legislation (including DOTAS, POTAS and DAC6) and criminal tax evasion sanctions against the backdrop of legislative and case law.

The purpose of this book is to provide a comprehensive overview of the law and associated matters concerning the regulation of tax professionals; and to seek to draw some practical lessons as to how the tax professional and the business they work in can organise themselves to comply with what is required by regulation, best practice and to eliminate so far as possible the consequences of mistakes and unforeseen occurrences.

Illustrated throughout with examples and reference to relevant case law, as well as checklists to help the reader put measures in place to protect themselves against the risk of becoming involved in breach of regulatory standards, this title is essential for tax professionals (including ICAEWs, CTAs, TEPs), tax agents, in house tax advisers, and lawyers advising on tax matters.

Foreword

Examines all aspects of the obligations and liabilities of tax advisers arising out of professional standards, contract, tort, criminal sanctions against the backdrop of legislative developments and case law.

Additional text

This book is timely and welcome, especially given the current debate in the UK about raising standards in the tax advice market and whether further regulation is required...a valuable volume that no professional practice should be without.

Product details

• Authors: Julian Hickey, Julian Shipwright Hickey, Mr Julian Hickey, Hickey Julian, Adrian Shipwright
• Publisher: Bloomsbury
• Languages: English
• Product format: Paperback / Softback
• Released: 30.04.2019
• EAN: 9781526506207
• ISBN: 978-1-5265-0620-7
• No. of pages: 624
• Subjects: Guides > Law, job, finance > Taxes; Social sciences, law, business > Law > International law, foreign law; LAW / Criminal Law / General, BUSINESS & ECONOMICS / Taxation / General, LAW / Taxation, Taxation, Criminal investigation & detection, Criminal investigation and detection, Public finance and taxation