If you are an entrepreneur or a landlord who is still doing your own tax work, then you are probably dealing with more on your plate than you can handle. It might sound like you’re saving a lot of money by not hiring a tax advisor in London. But the truth is that in in the long run, your small business is at risk of significant losses because of tax mistakes. Chances are, you are also unable to focus on growing your company, because your time and attention is taken up by various accounting tasks.
It’s always more prudent and practical to let a professional tax advisor in London take over your accounting functions. With a professional tax advisor, you can be sure that you are fulfilling all your legal duties and taking advantage of tax exemptions. Having an accountant also lets you focus on growing your business.
Ready to search for your tax advisor in London? Make sure to consider these factors:
Qualifications
“Tax advisor” is a generic term for anyone with knowledge about tax laws, with or without professional certifications. So when searching or interviewing candidates, it’s crucial to ask for their certifications and academic backgrounds. Tax advisors in London have designations that describe their area of specialisations. For example, tax attorneys have a law degree, which means they can help you not only with basic tax laws but also when facing an issue such as tax fraud. Meanwhile, CPAs or certified public accountants are trained and qualified to do various tax-related and accounting activities.
Reputation
Your tax advisor will be accessing your confidential information about your business and yourself, so find a tax advisor in London with proven credibility. You want a tax advisor with an established reputation in the industry, someone who is trusted by current and previous clients.
Price structure
Experienced advisors generally charge more than younger advisors. No matter who you choose, make sure that the advisor can openly discuss their price structure with you. A reliable tax advisor should be able to explain the basis of their fees. The best ones also offer a fixed price structure that is easy to understand, ensuring that you don’t pay more than you should.
