The Chartered Institute of Taxation (CIOT) has cautiously welcomed a government proposal for a legal requirement for anyone who wants to provide tax advice on a commercial basis to belong to a recognised professional body.
However, the CIOT said an alternative proposal for a new government regulator of tax advisers would be costly and ineffective.
“The standards that would be imposed are in general lower than those already required of professional body membership,” warned John Cullinane, CIOT tax policy director.
“It will ignore what has been achieved in recent years by professional bodies working togeth...