Guidance for Members working in commerce and industry

Members in commerce and industry have identified a number of areas where they would welcome guidance and we are pleased to let members know that this guidance is now available on the CIOT and ATT websites. The guidance has been produced by a working party including a number of individuals with extensive experience of working in commerce and industry.

The guidance includes the role of the Senior Accounting Officer. This will be relevant to members working in companies with a turnover in excess of £200 million. The guidance has been reviewed by legal Counsel. HMRC has also had sight of it and answered some specific questions relating to the SAO role. Ultimately it is anticipated that it will be included as guidance within Professional Conduct in relation to Taxation (PCRT) but in the meantime it is issued as standalone guidance for CIOT and ATT members.

Other areas identified by those working in commerce and industry are covered in a set of FAQs. These follow closely the approach in PCRT but are drafted specifically with a focus on the Commerce and Industry workplace. However the principles included in the FAQs apply to all members.