CH1- PRPG intro Flashcards
ADIT affiliate
International tax affiliate of the CIOT
Client
A tax payer which a member has a professional relationship with and includes former client
Council
Governing body of CIOT or ATT
Firm
Sole practitioner, partnership, LLP or a body corporate or unincorporated company
Member
Member of CIOT or ATT, including students and ADIT affiliates
Member in practice
A member, including students, who provides tax services on a full/part time basis as a sole practitioner, a partner in a partnership, a member of a LLP, a proprietor of an unincorp body, or a director of, or an employee of, a company providing taxation services in which they have a financial interest which represents 5% or more of equity capital
PCRT
Professional conduct in relation to taxation
Principal
Sole practitioner, partner, member of LLP or director in firm
Tax advice
Preparation and submission of tax returns, advice on tax planning, representation and defence of taxpayers before authorities and courts and the provision of overall advice in the area of taxation and complementary accounting and legal services
TDB
The taxation disciplinary board limited
PRPG
Professional rules and practice guidelines. Sets out fundamental principles and rules and guidance which members must comply with, and helps them handle challenges in professional work. -5 principles -Practice guidelines Helps preserve public confidence Disciplinary action if fail to comply
Who does PRPG apply to
Members of CIOT Members of ATT Students of CIOT Students of ATT International tax affiliates of CIOT (ADIT affiliates)
Members and duty of care
Members owes a duty to clients to act with reasonable care and skill, honesty, integrity, impartiality and professionalism.
Important to observe the spirit, as much as the letter, of the PRPG
Duty of care and no fee
PRPG is not relaxed if not charging a fee for work
Behaviour
Members owe a duty of care to not act in such a away as to bring CIOT/ATT into disrepute, or in any way which would harm reputation
