New Regulation on the activities of tax agents in the UK

The UK tax and customs administration has updated the Regulation on the activities of tax agents, which sets minimal standards for tax agents and advisers in the provision of services to British taxpayers.

In accordance with this provision, it is necessary that tax agents and accountants have reliable, up-to-date information in the areas in which they actively carry out their activities, as well as prevent errors made by customers in calculations and statements. In addition, tax agents will be liable if they continue to provide services to clients whose activities are aimed at avoiding taxation.

It is worth noting that agents should notify customers of uncertainties in the interpretation of legal norms, if the Office of taxes and customs duties has not published its position on these issues.

We will remind that the Situation on the activities of tax agents was first introduced by the UK tax authority on August 3^rd, 2016. It’s a recommendatory instrument to streamline the activities of tax agents. Also, the Department reserves the right to stop working with tax agents and apply fines against them if their activity is aimed at violation of the established rules on taxes and fees.

On materials of the following website: https://www.gov.uk/government/publications/hmrc-the-standard-for-agents/hmrc-the-standard-for-agents#the-standard