CH14- Members in employment- Commerce and Industry

Question 1

Members of C&I

Answer 1

Obligation to comply with the following in PRPG:
Fundamental principles
If employer in regulated sector, must comply with UK AML legislation
Must comply with CPD requirements if holding oneself out ot be a member of ATT/CIOT
Determine whether compliance with Senior Accounting Officer regime needs to be considered

Question 2

Situations contrary to prof standards or law/regulations

Answer 2

Refer to C&I guidance on ATT/CIOT websites

Or explore external routes, such as legal advice

Question 3

Personal work

Answer 3

If offer own private tax advice, ensure to comply with relevant PPI and AML obligations

Question 4

Members of C&I and PII

Answer 4

Not required to have PII if employed

Will need PII if self employed

Question 5

First course of action for C&I

Answer 5

Refer to C&I guidance on website

Question 6

Consider whether Senior Accounting Officer rules apply if

Answer 6

A member is responsible for company’s financial accounting arrangements