UK government welcomes ‘responsible tax planning’ standards

UK tax advisers must avoid promoting tax planning arrangements that set out to achieve an outcome contrary to the clear intention of Parliament, and they must alert clients when the law is materially uncertain, according to updated guidance circulated by leading professional bodies.

“Professionals owe a duty to the society in which they operate as well as to their clients,” seven tax and accountancy bodies said in a joint statement as they announced the fourth update since 2011 to guidance titled “Professional conduct in relation to taxation”. Social expectations of tax planning behaviour have “evolved significantly” in recent years, they observed.

Read more: My news story for Tax Analysts, 2 November (paywall).