How do you find a reliable and professional tax specialist?
In this article we will go over the top traits to look for in your tax advisor, so you can find the specialist who is the right fit for you. We are also going to give you a concrete suggestion for a renowned London tax specialist, so stick till the end!
So without further ado, let us jump right into the traits to look for in your taxation advisor.
#1 Look for someone who specialises on taxation
Yes, this might seem obvious since we are talking about tax specialists here. But many people make the mistake of thinking that everyone with the title; ‘accountant’ knows everything there is to know about taxes. They do not. An accountant does not hold a law degree with specialisation on tax law. Neither do they necessarily have hands-on experience running a business and the practical implications of tax strategies for businesses.
It is important to understand the difference between filing your taxes at the end of a tax year and having in-depth knowledge and experience with tax law and business strategy. The former is where your accountant shines, the later allows is what allows a tax specialist to plan your tax strategy ahead of next tax year.
#2 Look for someone who understands your business
This point builds on what we just talked about. Not all accountants are experts on business strategy. Tax strategy is an important part of your business’s strategy going forward. It can help you achieve your goals faster, increase your reinvestment of profits back into your business, and have many other business related benefits.
#3 Look for someone with their finger on the pulse of what is going on with recent taxation regulations.
Tax laws are changing constantly, meaning that the tax strategies that might have been beneficial lat tax year could already be obsolete. Right now, the recession following the global COVID19 lockdowns have caused tax authorities and governments around the world to make express changes to tax policies to reboot the economy. This is no different in the UK, and your tax specialist should be able to help you benefit from the current changes in our economy.
#3 Look for someone who have experience working with businesses like yours.
Their track record is one of the first things you should ask any professional about. When interviewing tax experts, ask them what results they have gotten for businesses like yours. The more experience they have, the better and quicker they will understand your needs.
As promised, we will give you a recommendation of someone embodying all the traits above, and who can give you the best tax advice in the London. The tax specialist we are about to recommend has a long track record taking both his own and his clients businesses to success using taxation strategies.
Isaac Qureshi is a tax specialist in London with over 15 years of experience advising business across on how to best make their tax payments work for them. Contact Issac below to learn more about your opportunities.