You definitely need a tax advisor at these times
You may not yet have considered the benefits of using a tax advisor, but there are plenty of occasions when the professional advice and guidance that you’ll receive will more than offset the cost of the service. For example:
1. If you are a business owner, landlord or a high earner
While you may have an accountant, you may have more complex tax affairs than the average client and may be inadvertently missing out on valuable reliefs and opportunities. A tax advisor can help you to review your situation and ensure you are maximising your entitlement. Equally, a tax professional can provide a great advantage if you are required to undergo a HMRC investigation, and can provide records, rationale and rigour to any check or assessment.
2. If you are planning for the future
There are various ways to plan for your future and a tax advisor can help you to assess which methods are most tax advantageous and avoid costly mistakes when building up or handing down assets to family members.
3. Will planning
When you are planning your will, it certainly makes sense to use a tax advisor to make the right decisions, particularly with regards to complex areas such as inheritance tax. If you want to ensure that your estate goes to the right people and that tax on your estate is legally minimised as far as possible. A will-writer or high street lawyer may be able to draft a basic will for you, but do they understand how to review your entire estate for tax purposes.
4. Varied sources of income
It is very common today for individuals to have multiple sources of income, such as from rental property, overseas investments, stock market holdings and investments, loans to business and self-employment. This means that self-assessment time can become particularly complicated! A tax advisor makes it easy to navigate the regularly changing HMRC regulations and will ensure that your records and calculations are completely accurate.
Even better, a tax advisor is flexible and can offer you one-off advice when you need it or an ongoing programme of support to optimise your overall tax affairs and to take the job off your hands entirely!
Contact us to find out more, and to discuss how we might be able to help you to effectively manage your own tax affairs – expertly, rapidly and with complete compliance.