3 Things to Help You Choose the Right Tax Advisors

Small business owners in the United Kingdom are required to pay taxes correctly and on time. The government makes everything sound so simple, but let’s face it—all the numbers, penalties and deadlines can be daunting. Are you confused and not sure how to proceed with your tax returns? Can’t find the time for accounting because you’re busy with day-to-day operations? The good news is that you can always hire people to help you fix and pay your taxes properly. They are called tax advisors, and they can certainly take the stress out of managing your tax returns and save you from steep HRMC penalties. Here are three things to keep in mind when choosing the right tax advisor:

    ·         Do your research.

In this age of social media, it is easier than ever to find out if a prospective accountant can be trusted with your finances or is a phony. Is he or she qualified and authorised? Check some customer reviews. Tax advisory firms are regulated by the ICAEQ, ICAS, ACCA, AAT, CIOT or other regulating institutions for accountants in the UK.

    ·         Match your need with their expertise.

Most accountants could also be tax advisors, and some lawyers could be tax advisors. But you will want someone who can provide exactly what you need. There is no need to overpay for a lawyer, for example, if you don’t need legal tax advice.

    ·         Lastly, ask for a quotation.

You will want a financial and tax advisor who can help you maximize your profits from your small business. Hire someone you can afford. Some firms offer instant quotations for their accounting services in their website.

There are thousands of small business owners in the UK who are just as baffled as you are. If you’re panicked at the thought of a fast-approaching tax filing deadline, call a tax advisor right away. Better yet, don’t wait until the last minute. Retain a tax advisor year-round to ensure that your business is always prepared.