HMRC has added a new tool to check if you need to register as a tax adviser under the new register scheme, which goes live on Monday 18 May. However, there is a staggered introduction period which means need to check carefully exactly when they will have to register by, with some cohorts not required to sign up for at least six months.
This is the famous ‘interact’ register which is sweeping up virtually anyone who provides some level of tax ‘advice’ to clients, from accountants to tax advisers, whose full time job is tax, to conveyancing solicitors who may literally only be collecting SDLT on behalf of clients, and hence have dealings with HMRC.
The new HMRC checker tool provides a straightforward way to see whether a firm or sole practitioner needs to register with HMRC. If they do not register by their in-scope deadline, heavy penalties of up to £5,000 can be charged by HMRC with the threat of publication of names for breaches.