Professional Conduct in Relation to Tax (PCRT)

• The Professional Conduct in Relation to Tax training course is designed to give a practical insight into this topic rather than a theoretical analysis of the legislation.
• It is presented by an independent advisor who has discussed these issues with clients in relation to real life scenarios and so has detailed knowledge of the issues involved
• Delegates will be encouraged to ask questions and clarify any issues which arise during the presentation.
• The professional conduct in relation to to Tax training course will cover all current legislation and practice

• Understand the professional conduct in relation to taxation (PCRT) standards for tax planning that are expected of individuals and firms undertaking tax work.
• Consider the published documents outlining the industry standards as determined by the relevant professional bodies.
• Distinguish between the different actions to be taken in varying situations and the impact of not responding adequately.
• Focus on specific common scenarios and determine the situations which cause problems with the PCRT tax.

The fundamental principles of PCRT

• Why must the profession demonstrate ethical behaviour
• Consideration of the five pillars of PCRT
  • Integrity
• Exploring the need to be honest in relationships
• How can this be demonstrated?
• How does this impact where difficult clients will not comply?
  • Objectivity
• Ensuring bias, conflict of interest or undue influence do not override professional judgements
• Considering how pressure from clients can influence key decision making
  • Competence
• How do you maintain professional knowledge and skill?
  • Confidentiality and professional behaviour
• Understanding the legislative restrictions on professional behaviour
• Consideration of Data protection and GDPR
  • Tax planning
• Does all tax planning meet the requirements?
• How do we define aggressive tax avoidance?
• How does the GAAR fit into this regime?

The practical aspects of PCRT

• How does the profession demonstrate ethical behaviour?
  • What are HMRC’s powers to deal with behaviour they believe is unethical?
  • What proposals exist for the extension of those powers in the future?
• The interaction between PCRT and other measures such as general disclosures and DOTAS
  • What does the future hold for advisors who engage in aggressive tax planning
• How are the professional bodies tackling non-compliance in this area?

How have the Courts dealt with tax avoidance?

• What can we deduce from tax cases on avoidance as to how the PCRT might be applied in practice?

The trainer started her career with HM Inland Revenue as a Fully Trained Inspector before qualifying as a Chartered Tax Advisor whilst still working for the department. She worked in Large Business Office and in the local District network covering all aspects of direct tax.

She left in 2000 to become a consultant before setting up in business providing training and consultancy. The training involves CPD seminars, exam training, mentoring, and bespoke in-house training to all levels of accountants and tax specialists. The consultancy involves accountants and businesses on all aspects of tax planning as well as dealing with tax disclosures, HMRC enquiries and Tribunal cases. All aspects of direct tax and Stamp Duty Land Tax are covered.

The trainer believes that the interaction between the training and consultancy is vital to providing the highest quality service in both areas. The consultancy allows the training to be practical by focussing on real cases where problems have been encountered and solved. The experience of providing consultancy allows the training to be interactive with delegates encouraged to participate and discuss their own cases.

The Professional Conduct in Relation to Tax course is designed to cover the published guidance on Professional Conduct in Relation to Taxation.

The Professional Conduct in Relation to Taxation (PCRT) training course is divided into tax filings, provision of tax advice, dealing with errors and responding to HMRC enquiries.  It will consider how these fundamental principles need to be applied in each of those areas and where the risks lie in underestimating the importance of these issues.

We will consider specific examples taken from typical client scenarios and consider whether there are risks associated with the normal advice given including reviewing how small changes in fact patterns can materially increase those risks.

The intention is to change the way of thinking by focusing on a risk-based approach to tax advice and associated compliance work.