In the United Kingdom (UK), the Professional Conduct in Relation to Tax (PCRT) is adopted to govern the conduct of tax professionals. The PCRT is a guide jointly produced by seven-leading tax and accountancy bodies which sets out the fundamental principles and standards of behaviour that tax consultants are expected to follow.
These regulations include: i)fundamental principles, ii)expected standards and iii)general and specific guidance. The fundamental principles form the foundation of PCRT’s standards and guidance. It governs the ethicality of tax professionals and encompasses Integrity, Objectivity, Professional Competence & Due Care, Confidentiality and Professional Behaviour. The PCRT also acts as a guidance for tax consultants in
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In this context, consultants are to inform their client if the tax law is materially uncertain and give appropriate advice in relation to the risks and circumstances of each case. They are also encouraged to seek professional help whenever uncertain. This hence deters tax consultants and clients alike from exploiting loopholes in tax laws given a better understanding of the potential risks associated. Thirdly, disclosure and transparency requires disclosure to be made as required by law, and tax consultants must recommend clients for full and transparent disclosure whenever possible. This encourages taxpayers to be compliant through enhanced transparency for both the tax payer and the government.
In addition, tax planning arrangement states that tax consultants must never create, encourage or promote any form of tax planning arrangements that either; i)have the intention to achieve results which conflicts with that of the Parliament and/ or ii)are highly artificial or unrealistic and seek to exploit loopholes in the legislation1. This principle discourages the creation and usage of aggressive tax planning techniques by laying out the government’s views and expectations on appropriate tax planning schemes. Lastly, professional judgement and appropriate documentation requires tax consultants to justify their professional judgements by supporting it with convincing paperwork. Tax consultants are also expected to
The NMC succeeded the United Kingdom Central Council for Nursing, Midwifery and Health visiting (UKCC) which was until 2002 has a core responsibility to register UK Nurses, Midwives, and health visitors as well as handle professional misconduct complaints and issue guidance for registered practitioners. The NMC was set up with the core responsibility of protecting the public by ensuring appropriate standard are set, reviewed and monitored for education, training, professional conduct and performance (Nursing and Midwifery Council, 2015). The core function of the NMC, as a regulator, is to establish and improve standards of nursing and midwifery care in order to serve and protect the public (Eaton, 2012). This assignment will focus on how NMC protects the public by carrying out its statutory roles. The writer will discuss the code of professional standards of practice and behaviour as it concerns Adult Nurses registration and deregistration of Adult Nurses, education and training, investigation and dealing with complaints, revalidation, criticisms of NMC, as a well as have a look at the future of NMC in regards to protecting the public.
What does Professionalism mean to me? Professionalism in my term means it is someone who is very dedicated to their profession. It is an important and great decision to follow by the rules and ethics of professionalism. If we did not have anyone that cared about their profession it would cause a lot of problems in our society today. It could cause a lot of disruption in your workplace. In order to abide by professionalism you must take pride in your job, percieve realistic goals and values, and know what your expectations are.
AS 3 goes on to state in paragraph A9 that “the documentation requirements in this standard should result in more effective and efficient oversight of registered public accounting firms and associated persons, thereby improving audit quality and enhancing investor confidence”.
Statements on Standards for Tax Services No.1 addresses a member’s obligation to advise a taxpayer of their work. This statement also summarizes forth the applicable standards for members when recommending tax position or prepare tax return. A tax return position means a position that a practitioner uses his or her knowledge of all the materials and facts to provide tax service to a taxpayer. What’s more, there are more specific reporting and disclosure standards for tax preparers which a member should determine and comply. If there are no written standards with respect to recommending a tax return position or preparing or signing a tax return, or if its standards are lower than other standards, a member shouldn’t recommend a tax return position or
The Caldicott Report 1997 set out 6 principles to govern the access to and use of confidential information as follow: the purpose of using confidential information must be justified; confidential information must only be used when absolutely necessary; the minimum necessary to achieve the purpose should be used; access to confidential information must be on a strict need-to-know basis; everyone accessing confidential information must understand his or her responsibilities and everyone accessing confidential information must comply with the law.
The accounting profession is a highly regarded position of power. Since accountants possess this power, they are highly regulated to ensure the public they are practicing ethically. Although accounting opens doors for many professions, the world of tax accounting is one of the most highly regulated because it deals directly with the federal law through taxation of individuals and corporations. There are two regulatory bodies for tax practitioners: The Internal Revenue Service (IRS) and the American Institute of Certified Public Accountants (AICPA). Tax practitioners must follow the rules or guides within Circular 230, issued by the IRS, and the Statements on Standards for Tax Services (SSTS), issued by the AICPA. Even though these documents
This are done through the design of appropriate strategies and programs to ease stakeholders’ compliance burden and bring about an efficient and improved tax delivery services to customers. TOG’s key functions include the assessment of persons, including companies and enterprises, liable to tax, as well as the assessments, collection, accounting and enforcing payment of taxes. These functions are carried out through the departments and functional units of the Group. The Compliance and Enforcement Group provides the FIRS with the platforms necessary to enhance voluntary compliance within the tax system. Its ultimate goal is to ensure that tax revenue collection is enhanced through the mobilization of the appropriate policy and legal frameworks. In order to achieve cohesion in the implementation of organizational goals, the various Groups and Departments involved in compliance and enforcement activities strive to build synergy in the performance of their duties. In appropriate cases, the Tax Operations Group refers cases of default of payment of tax to the Compliance and Enforcement Group to be handled by the Legal and Prosecution Department. The relevant organs of the service have carried out important activities towards enforcing taxpayer
Professionalism in the workplace, is the absolute key to having a successful, and smoothly run business. Professionalism is something that must be maintained by every individual within the work setting, especially in health care, whether it is the janitor, activity director, nursing assistant, doctor, or even the head administrator. Professionalism encompasses many aspects, such as teamwork, attitude, environment, knowledge, morals, and ethics.
The principles of professionalism are crucial for the pre-hospital environment. Maintaing and upholding professionalism allows pre-hospital to care to succeed and thrive.
In the old NMC (2008) Code; Standards of conduct, performance, and ethics for nurses and midwives, stated it 'must not discriminate in any way against those in your care.' Holland and Hogg (2010) argue that nursing is to have a consideration of the cultural knowledge, to which they highlight nursing in Australia which has embedded a notion of multiculturalism. The Australian Code of Professional Conduct (2008) states that 'Nurses respect the dignity, culture, ethnicity, values and beliefs of people receiving care and treatment.' The revised NMC (2015) Code; Professional standards of practice and behaviour for nurses and midwives, state nurses should ' avoid making assumptions and recognise diversity and individual choice.' Making nurses aware
Coverage of Code sections 6694 and 6695 will cover the understatement of taxpayer’s liability by tax return preparer and other assessable penalties with respect to the preparation of tax returns for other persons. Furthermore, this paper will define what is “practice before the IRS”, who may practice and what are the rules on return of client records.
However, assuming there is no certainty about Roman being paid to produce contracted result in providing voluntary services as he is willing to rendered assortments of services to unlimited types of patients, hence this test may fail. It is then required at least 80% of personal services income for the year is derived from only one client and client’s associates , so that personal services business determination can be conducted to further analyse whether Division 85 & 86 apply. If the 80% test fails, one out of three remaining tests must be considered. Particularly, if PSI is earned from at least two entities that are not related to taxpayer or related to each other, through public advertising or tendering, the unrelated clients test will be satisfied . Since Roman provided a range of services to various patients, 80% or more of his income is more likely derived from at least two unrelated entities in the income year, assuming offers and advertisements were made publicly. His income did not meet 80% test and satisfied unrelated clients test, consequently PSI rules in two divisions will not apply .
There are five guiding principles that guide me in my career as an independent tax professional. They are as follows:
One professional behavior I would like to work on is my critical thinking. I believe that this will be a valuable skill in the future as I diagnose and treat patients. Critical thinking is needed to be able to rule out causes of pain and narrow down the problem. It will also help with reevaluating, and try new approaches if treatment isn’t working. Right now I think I’m at the intermediate level. One reason being, I’m trying to use the knowledge that I have to challenge new ideas I encounter. I also am starting to analyze literature, and am able to formulate multiple hypotheses for solutions. However, I also am not able to determine effectiveness of my applied solution partly because I haven’t had practice in a clinical setting. I also wouldn’t say I’m at an entry lever because I don’t have experience determining relevant and irrelevant patient data. I’m sure that as I learn more, and learn how to apply my knowledge from class I it will improve my ability to use logic and evidence to treat.