The UK government announced in the Budget that it will not regulate tax advisers and instead work in partnership with the sector to raise standards in the tax advice market.
The Association of Taxation Technicians said tax advisers already face significant changes over the next few years with the mandatory registration of tax agents and transition of AML supervision from the professional bodies to the FCA.
ATT said risks remain for poor-quality or misleading guidance being given to taxpayers. It said: “We look forward to HMRC building on the introduction of the agent register and future discussions about a clearer, more coherent approach to raising standards.”
