News
MPs support move to crackdown on unqualified accountants
21 September 2022
The Government could move to crack down on anyone providing accountancy services who is not professionally qualified.
As the law stands there is no requirement for these individuals, who can set up and start advising clients, to have professional qualifications.
High profile campaigns
A survey by the Association of Accounting Technicians (AAT) and conducted by YouGov shows that eight out of 10 MPs agree that anyone employed to deliver tax and accountancy services should be professionally qualified.
It follows HM Revenue & Customs (HMRC) research published last year which revealed that 82 per cent of unregulated and unaffiliated tax agents are not qualified.
The AAT has previously run high-profile campaigns calling on the Government to make it compulsory for anyone offering tax and accountancy services to be a member of a professional body.
Fears of tax evasion and money laundering
It says those without relevant qualifications are jeopardising the delivery of services such as budgeting, tax returns and payroll for their customers or employers.
HMRC says two-thirds of agent-related complaints to them are about the one-third of agents who are unregulated with a consequent cost to the taxpayer.
This is not just because of poor advice but also due to tax evasion, egregious avoidance and money laundering.
Case Studies
-
A taste for growth, a thirst for knowledge
-
Customer care is top of the list for packaging business
-
A modern approach required for music moguls
-
A shared passion for architecture and a head for numbers
-
Cut above the rest in personal management style
-
Taxing demands with old school charm
-
Smiles all round for dental practice
-
Sometimes a business does exactly as it says on the tin
-
Child's play with proactive accounts management