Regulate advisers in unregulated sector, not more standards by imposing PII, IFA urges HMRC

HMRC’s consultation on raising standards in the tax advice market: professional indemnity insurance and defining tax advice sets out proposals to impose professional indemnity insurance on those tax advisers who are not members of a professional body. Yet this is just masking the wider need to regulate all accountants and protect consumers, says Anne Davis, Director of Professional Standards at the Institute of Financial Advisors.

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