Ultimately, our Fundamental Tax Principles are integral to our approach. Consequently, they ensure ethical and transparent tax services in every aspect of our work.

Our Core Taxation Principles, first and foremost, offer essential guidance to clients on UK tax laws. Additionally, we support and foster transparent relationships with HM Revenue & Customs (HMRC) and other regulatory bodies. Consequently, this transparency, which is based on mutual trust and respect, thereby enables constructive dialogue and engagement by all. Moreover, and in addition, all our tax services are consistently provided according to regulatory guidance.

1. Compliance with Legal and Regulatory Requirements

Building a vibrant economy, therefore, requires adherence to legal and regulatory standards. Consequently, and in accordance with our Fundamental Tax Principles, we always act lawfully and honestly in our professional relationships. Furthermore, we equally expect the same level of integrity from our people and clients.

2 Consideration of Reputational Risk

We recognise that our reputation is crucial to us and our clients. Therefore, our Fundamental Tax Principles ensure we consistently provide tax services that uphold the integrity of the tax profession and our brand.

3. Adherence to Regulatory Body and PCRT Guidelines

We strictly follow the guidelines set out by our regulatory body and the International Federation of Accountants and Professional Conduct in Relation to Taxation (PCRT). These Fundamental Tax Principles, which include integrity, objectivity, professional competence, due care, confidentiality, and professional behaviour, are essential.

4. Ethical Tax Advice

We do not, under any circumstances, advise clients on tax arrangements that evade tax, involve dishonest intentions, or constitute tax fraud. Instead, in line with our Fundamental Tax Principles, we actively collaborate with HMRC, professional bodies, and other stakeholders. Consequently, we aim to curb these behaviors and, thereby, benefit society as a whole.

5. Compliance with GAAR and DOTAS

We comply, therefore, with the General Anti-Abuse Rule (GAAR) and the Disclosure of Tax Avoidance Schemes (DOTAS) rules. Consequently, our Fundamental Tax Principles ensure that, accordingly, we do not promote tax planning arrangements that, for instance, contradict Parliament’s intent, are artificial, or exploit legislative shortcomings.

6. Awareness of Risks

Transactions or structures may have commercial purposes but still face challenges from HMRC. Therefore, as part of our Fundamental Tax Principles, we inform our clients of any increased risks, supporting them in their tax-related decision-making process.

7. Ethical Policy of Full Disclosure.

ABS Accountancy Ltd operates an ethical policy of full disclosure with HMRC for all tax services. We expect our clients to adhere to the same principle. A relationship of mutual trust and transparency requires an ethical approach to our work. Thus, our policy of full disclosure ensures we earn and maintain the trust of both our clients and HMRC.

Will I get better advice?

If all you need is your books tidied and accounts submitted annually, we’re happy to help, but our services go far beyond that. We offer comprehensive financial advice to help you succeed.