Tax Advice. No difference between Accountants and Lawyers

No distinction between advice accountants give on tax compared to solicitors. 

The ICEAEW argued before the court of appeals bench that there is no difference in the grounds of training the two professions had, 

Venue: Case is being contested at the Court of Appeal

 

The ICAEW appeared in front of the Court of Appeal in a case involving the insurer the Prudential.  It had previously lost its argument with the HM Revenue & Customs that tax advice received from its advisers should be confidential under the same rules as solicitors. 

Representing the UCAEW, Charles Flint QC told the court “you can’t distinguish between the two… They are performing the same function, in the context.”

“advice on Tax is advice on law.  What qualification gives accountants room to advise on law?  It’s the study of taxation.  The institute has the overriding interest of acting in the public interest.” 

Flint argued that there was no distinction between the quality of advice between members of the two professions.  Particularly in terms of the training between chartered accountants and lawyers.

Later today the court will hear the opposing view from the Law Society.  They assert that the privilege should be restrained to legal professionals only. 

(Source: Accountancy age)