Submission of Tax Filings Flashcards
What is a member who prepares a filing on behalf of a client responsible for?
To the client for the accuracy of the filing based on the information provided
When a member is completing a small self-employed client’s tax return, to what extent should the concept of materiality be taken into account?
Strictly not at all, as materiality is not a tax concept
When might a member refer to the guidance on the case Langham v Veltema?
When HMRC has indicated its interpretation of a particular point, but a client proposes to adopt a different interpretation
To what extent may a tax adviser rely on HMRC’s published guidance in court?
The courts will apply the law, even where it conflicts directly with HMRC’s published guidance, however, a judicial review may be an option
According to PCRT, what are acceptable ways for clients to approve a return for electronic submission?
By signing a paper copy of the return
By text
In a telephone conversation, transcribed by the member
By email
You are preparing a tax return on behalf of a client, what would you be responsible to the client for?
The accuracy of the return based on the information provided
To what extent can you apply the concept of materiality in preparing a corporation tax return?
The accounting concept of materiality cannot be applied when completing the tax return
When a tax adviser is considering whether a client should disclose information to HMRC over and above what is legally required, what factors should be considered?
To what extent the tax treatment is in doubt
The size and gravity of the item in question
In the event that HMRC’s guidance conflicts with the law, what will happen to a taxpayer seeking to rely on that guidance in the event that the matter is taken before a tribunal?
The tribunal will apply the law
What should a member carefully consider when approving a tax return on behalf of a client?
Their legal authority to do so
The process whereby the client will review and take responsibility for the contents of the return
Any legal implications of approving the return for both the practice and the individual signatory
What you should consider in order to satisfy that third party advice is reasonable?
Does it accord with your understanding of the law?
Is the person giving the advice appropriately qualified and a member of a PCRT body or an equivalent regime?
What should you do if you do not feel competent in acting for a client?
Refer the client to another member who is specialist in the area
