CH18- Introduction to PCRT

Question 1

PCRT

Answer 1

Professional conduct in relation to taxation
Sets out the fundamental principles and standards for tax planning
All members must follow, whether in practice or not
Principles should be applied in respect of all work- UK and non UK
Forms part of the laws of the CIOT/ATT

Question 2

Breach of PCRT

Answer 2

Disciplinary offence

Question 3

PCRT developed by

Answer 3

AAT
ACCA
ATT
CIOT
ICAEW
ICAS
STEP (Society of trust and estate practitioners)

Question 4

What is within PCRT

Answer 4

5 fundamental principles
Standards for tax planning
Help sheets A-E

Question 5

Help sheets

Answer 5

Provide guidance on the application of PCRT when dealing with day-to-day work but they are not an exhaustive list

Question 6

PCRT and the law

Answer 6

Not intended to override the concept of legal professional privilege nor to conflict with other professional duties or general law

Question 7

Employer not prepared to follow PCRT

Answer 7

If member is employed and employer not prepared to follow PCRT, contact relevant professional body
Seek legal advice