Accounting officers: will the buck stop with you?

New rules under schedule 46 of the Finance Bill 2009 mean senior accounting officers now have to personally endorse and explain tax planning schemes to the taxman

They might be perfectly competent in their role, but will senior accounting officers (SAOs) be reluctant to sign off risky tax planning schemes because the buck now stops with them when explaining the complex arrangements to the taxman?

Risk and internal audit experts certainly think so, as we enter the first full financial year the new rules effect.

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