Accountants in front of Public Accounts Committee (PAC)
Watching the Heads of Tax of the Big 4 accountancy firms in front of the Public Accounts Committee (PAC) – the debate is interesting. There seems to be a desire on the member’s part to differentiate on a line between sensible tax planning at one end and evasion at the other, with tax avoidance occupying an (apparently large) grey area in the middle.
The view seems to be that the profession have more staff who are brighter and better paid than their counterparts at HMRC and so they can expect to be successful in planning. I have to say the partners believe that is not a fair reflection of HMRC’s position.
The view from one side of the debate is that in advising clients you have to look after the client’s best interests to enable them to complete in their market-place. The opposing view is that such advice can lead to businesses paying less than their ”fair” share of tax.
This could go on for a while with no consensus of opinion.
Date: 31st January, 2013
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