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On March 6, 2024, Her Majesty’s Revenue and Customs (HMRC) announced that it will work only with tax agents who belong to recognized professional bodies. This move aims to enhance the quality and reliability of tax-related services provided to individuals and businesses. By collaborating with accredited tax agents, HMRC seeks to streamline processes, improve compliance, and ensure accurate tax reporting. This decision reinforces the importance of professional standards and expertise in the field of accountancy.

Reference: You can find more details about this news on the Accountancy Age website.

This news highlights the significance of maintaining high standards in tax advisory services and fostering trust between taxpayers and tax authorities. 💼💡