Back to Insights

Are you an accountant? Here’s how we can help.

By admin
08 Aug 2023
Tax Investigation

Them: what do you do for a living?

Me: I’m a Tax Adviser.

Them: A taxi driver?

Me: No. I provide tax advice.

Them: Oh, an accountant.

Me: Also no.

There is a difference between accountants and tax advisers

You’d be surprised how often this happens (I must learn to annunciate), but despite my flippancy, there is a difference. 

Accountants prepare financial documents including profit and loss accounts, balance sheets, management and annual accounts, tax returns (income tax, corporation tax, and VAT), analyse business performance and budgets, and can provide general tax advice.

Tax advisers use those financial documents to work with a client to achieve their business and personal planning goals.  This can be anything from planning for retirement to how best to structure a new business. 

That’s not to say that any one is better than the other, they each perform very distinct roles required for the successful operation of a business or managing wealth and whilst we do have a team of in-house accountants, we are predominantly a tax practice specialising not only in consultancy, but also HMRC enquiries and taxpayer disclosures.

If you’re an accountant, you may come across a situation with a client which goes beyond the remit of what you are comfortable dealing with.  As with the Professional Conduct in Relation to Taxation, part of your role is to recognise when you need to speak with a specialist.

If you are an accountant, we can work alongside you and/or your client to with:

  • Managing HMRC enquiries and disclosures – ranging from section 9A enquiries, employment status, offshore irregularities, VAT, Code of Practice 8 and Code of Practice 9.
  • Estate planning – including trusts, gifts with a reservation of benefit, business property relief, and pre-owned asset tax.
  • Employee incentivisation – exempt benefits, taxable benefits, Employee Management Incentives and other share schemes
  • Business structuring – partnerships, incorporation, reorganisations, acquisitions, mergers and de-mergers
  • Company exit – purchase of own shares, vendor-initiated management buy-out, liquidation
  • Residency – statutory residence tests, company residency, double-taxation agreements, double tax relief

Our chartered tax advisors have a wealth of experience spanning over thirty years in varied areas of tax. 

We work alongside your insurers where you have fee protection insurance and provide fixed fees so you and your clients have a clear sight of what you can expect.

To read some of our latest articles on tax investigations click here

If you would like to talk to us about how we can assist you and your business then please contact a member of the team

Don’t forget to keep and eye on our socials Facebook Instagram and LinkedIn

Back to Insights

Get our latest tax articles direct to your inbox

Edge Newsletter

What best describes you?