With just five weeks left in 2017, the Tax Practitioners Board has revealed that approximately 9,500 tax (financial) advisers still need to apply to renew their registration by 1 January 2018.
TPB chair Ian Taylor warned that tax (financial) advisers who fail to renew their registration on time will be placing their business at risk.
“If tax (financial) advisers fail to renew their registration they can no longer provide tax (financial) advice services for a fee or reward,” warned Mr Taylor.
“They will also need to lodge a new application and cannot provide services until the new application is decided.”
If tax (financial) advisers submit their renewal application on time, however, they will remain registered until the TPB makes a decision on their application, he explained.
Mr Taylor said advisers should ensure they have updated their email address and mobile number on their profile to make sure they don’t miss out on renewal information.
Before applying they should ensure they have completed a statement of relevant experience verified by appropriate persons, he added.