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ACCA Calls for HMRC to Rebuild Trust with Stakeholders
PARN Global News Article - 4th July 2023
In response to HMRC's consultation on improving the income tax service, ACCA, a leading global accountancy body, emphasizes the need for a detailed improvement plan and closer collaboration with professional bodies. According to Lloyd Powell, head of ACCA Cymru/Wales, a lack of investment has damaged relationships between HMRC, compliant taxpayers, and their supporting agents, resulting in unacceptable service standards.
Key points raised by ACCA include:
- Transparency and accountability: ACCA highlights that tax morale and good tax engagement rely on transparency and accountability from tax authorities. They emphasize that tax authorities should be as transparent and accountable as taxpayers and their agents.
- Stability and confidence: ACCA expresses concerns about unplanned executed changes in the tax system, which have adversely affected taxpayer, agent, and stakeholder confidence. They stress the importance of stability alongside certainty and simplicity in the tax system.
- Improvement plans and partnership: ACCA urges HMRC to develop more detailed improvement plans for service standards, emphasizing the need for urgent action. They propose closer collaboration between HMRC and professional bodies, such as ACCA, to identify areas for improvement, including enhancing access to information and functions for professionals.
In addition, ACCA emphasizes the value of professionally regulated agents and calls for recognizing their time-saving capabilities and trustworthiness. They also advocate for building on existing partnerships and trust between HMRC and professional bodies to swiftly address concerns and eliminate wasteful practices that impact taxpayers, their agents, and HMRC's resources.