Chapter 32 Flashcards
What does CCAB stand for?
Consultative committee of accountancy bodies
What are some of the ML risk areas that tax practitioners may encounter in practice?
Where a client’s actions in respect of his tax affairs create proceeds of crime, eg:
- A client’s refusal to correct errors
- A client’s deliberate under declaration of profits/income/gain or deliberate overstatement of expenses etc
- A tax practitioners suspects of becomes aware that a client is holding proceeds of crime
What is a tax practitioner?
Someone offering tax services by way of business
What is a tax adviser?
A firm or sole practitioner who by way of business provides advice about the tax affairs of other persons, when providing such services
Are tax practitioners obliged to report to NCA is they know or suspect that a criminal offence has been committed?
Yes
Define relevant professional adviser
An accountant, auditor, tax adviser who is a member of a professional body which is established for accountants, auditors or tax advisers and which makes provisions for:
- Testing of competence
- Imposing and maintaining professional and ethical standards
What is an assigned matter?
Any matter in relation to which the commissioners are for the time being required in pursuance of any enactment to perform any duties
Is a notification to HMRC a substitute for a report to NCA?
No
How many days after receipt can NCA pass information to HMRC?
8
Can innocent offences be treated as criminal offences in VAT and other indirect taxes?
Yes
