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The guidance on professional conduct has not emerged fully formed.
KEY POINTS
- Current guidance on professional conduct is simply the latest in a series of such documents.
- The test of acceptable conduct is subjective but this has advantages.
- Reputational damage is caused by appearing to condone the selling of contrived tax schemes.
- The practicalities of ascertaining the intention of parliament.
- Advisers concerned about a possible breach of the guidance will need to consider various matters.
The guidance note Professional Conduct in Relation to Taxation (PCRT) is not a new ICAEW document; it was produced by all the major professional bodies barring the lawyers many years ago and the current one is merely the latest iteration. Nothing drafted by a committee is ever perfect and the PCRT certainly has its flaws but it isn’t the monster some make...
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