HMRC Accounting and Tax Group - terms of reference

To provide a forum in which HMRC and representatives of business and the accountancy profession, the Accounting Standards Board and HMT, can monitor and discuss future significant developments in accountancy and their possible tax implications.

The group will operate:

• by reference to a schedule of accountancy developments, assessed as to potential level of impact and importance
• by meeting regularly as necessary to consider priority issues
• through working groups set up to assess the impacts and possible responses to the most significant of those issues.

Membership

HMRC, HMT, CBI, ICAEW, CIOT, ASB, ACCA, and other industry and professional representatives. The group will be chaired by a Deputy Director CT&VAT.