HMRC Wants Your Views on Tax Advice Market

HMRC is seeking contributions to its consultation entitled ‘Raising standards in the tax advice market — strengthening the regulatory framework and improving registration’, which announced in March’s Spring Budget 2024.

The consultation covers:

• potential approaches to raising standards and whether the government should introduce a requirement for paid tax practitioners to be a member of a recognised professional body — this includes who should be included in any future requirements.
• how professional bodies and the government can work together to raise standards of tax practitioners
• mandating registration with HMRC for tax practitioners who wish to interact with HMRC on behalf of their clients

You can find the consultation on GOV.UK, and participants can either:

• answer the consultation questions
• email their views to raisingstandardsconsultation@hmrc.gov.uk

HMRC said: “This consultation explores options to raise standards in the tax advice market and will be of interest to tax practitioners (providers of tax advice and services), their clients or potential clients and tax and accountancy professional and regulatory bodies.

“The consultation seeks views on possible approaches, impacts and design features of those options.

“We are keen to hear from agents, both those who are members of professional bodies and those who are not.”

The consultation closes on 29 May 2024.