HMRC raises £16 for every £1 spent on investigations is the headline.
However is it widely known that HMRC are focused on targeted risk which means they will chase (focus on) taxpayers who submit their own returns and taxpayers using unqualified advisers as well as qualified advisers that they have historically found weak on compliance.
As proud members of The Institute Of Chartered Accountants Of Scotland who major on quality and the ICAS "Power of One" principle we can only applaud and commend this especially as we have witnessed too many unqualifieds and even qualified accountants cheating the system and hence "stealing" your and my and every tax payers tax income (we all need the NHS).
In our opinion unsuspecting tax payers regularly use the services of amateurs who are allowed to call themselves "accountants" depite having little if any ability and certainly no professional qualifications regulations or even requirements to keep abreast of the ever changing legislative requirements.
It is time in our opinion that like lawyers and doctors, opticians and other professionals the term "accountant" was protected in order to protect the unwary and naive from any amateurs setting up and calling themselves an accountant. even driving instructors or bookmakers are properly regulated.
OUR ADVICE: use a qualified CCAB (https://www.ccab.org.uk/) accountant and beware the use of odd acronyms and ask why any self respecting adviser would make these up to make themselves "appear" professional.
Preferably use a Scottish Chartered Accountant but we would say that as we are
CHARTERED ACCOUNTANTS.
Follow this link for the HMRC story if you want to see what HMRC are up to in their drive to collect MORE tax.
