In accordance with the provisions of Regulation 3.11 of the Taxation Disciplinary Scheme Regulations 2008, the Taxation Disciplinary Board has imposed financial penalties in two cases during 2009 involving breaches of the participants' administrative requirements, rules and procedures. One member of the Institute was required to pay a sum of £300 for failing to report disciplinary proceedings commenced against him by the Institute of Chartered Accountants in England and Wales, contrary to Rule 2.15.1 of the PRPG, and for failing to have in place adequate Professional Indemnity Insurance, contrary to Rule 2. 12 of the PRPG. Another member of the Institute was required to pay a sum of £150 for failing to report disciplinary proceedings commenced against him by Association of Chartered Certified Accountants, contrary to Rule 2.15.1 of the PRPG.
The Board would remind members that failure to respond to correspondence from the Board without unreasonable delay constitutes a specific disciplinary offence under Rule 2.13A of the PRPG. Failure to pay a penalty, fine, cost or compensation order made by the Board will result in legal action to recover the sum due and is likely to give rise to further disciplinary charges laid against the member.
