Prof Ethics Simulation

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kaywatts
kaywatts Registered Posts: 2 New contributor 🐸
in AAT Level 3 (Level 6 in Scotland)
Can anyone answer the following supplementary Q. Probably obvious, by I can't get my head around it?

Consider the following quote and explain why this is unacceptable under the AAT Guidelines on Prof Ethics.

"part of our fee will be based on a percentage of the tax savings we identify for you".

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  • reddwarf
    reddwarf Registered Posts: 528 Epic contributor 🐘
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    A member can state only that a client's affairs will be reported fully and accurately because there is a public duty to taxation authorites who provide public information as well as a duty to represent the client in the best possible manner within the ethical principles of the professions. This offer would compromise a member's professional obligation to be objective and independent. This offer also amounts to a contingency fee and the member can't guarantee to make a tax saving, only report accurately.

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    this should get you started I am sure others will be along soon!

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