CODE OF PRACTICE

All members are required to comply with the following Code of Practice. Copies of the Regulations are also available on request.

1. A client can expect that information acquired in the course of a member’s work will not be divulged in any way to any other person without specific consent; unless there is a legal duty on the member which compels disclosure. Wherever possible if such exceptional disclosure is required the client will normally be advised and consent (or legal advice) sought.

2. A member should use no information obtained during the course of a member’s work or anyone connected with the member, for personal advantage.

3. A client is entitled to expect that a member will carry out professional work with all due regard to the nature and type of work. Work will not be undertaken which is beyond the competence of the member.

4. Clients are entitled to expect the members will always state clearly and without ambiguity their terms of business before undertaking any assignment. A letter of engagement detailing terms and the agreed services to be provided will always be issued.

5. A member will always act in a manner consistent with the highest professional standards and will always aim to remain fully objective in all work undertaken. Members adhere to the principle of paying the right amount of tax in accordance with current law and practice.

6. Members will aim to satisfy themselves that a client has adequate records, documentation etc. to be able to prepare an Income Tax Return. Members will not knowingly (or recklessly) give any information that could be construed as false or misleading. Likewise where relevant information exists a member will not knowingly (or recklessly) fail to supply it, if it is material to the determination of tax liabilities.

7. Members will ensure that they (and their staff where appropriate) are adequately and appropriately trained and updated to carry out their duties effectively.

8. Members will carry adequate Professional Indemnity insurance.

9. Members will ensure that any client moneys are properly accounted for and are retained in a separate designated client account at all times.

10. Member’s terms of business will not contain any unfair or unreasonable terms or exclusions.

11. Where a client has a complaint or grievance the client is entitled to expect that a member will deal with the matter politely, professionally and promptly.

12. Where a client’s complaint cannot be satisfactorily resolved directly with a member the issue may be directed to the FTA. The member agrees to fully co-operate with the FTA in seeking a resolution by mutual agreement of any such dispute. Where mutual agreement of a dispute cannot be reached either party may request the chairman of the FTA to appoint an arbitrator (who may be the chairman of the FTA or any other nominated person).

13. Complaints about any aspects of member’s conduct are, if necessary dealt with under the FTA’s disciplinary procedures.

Download the code of practice*

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