Choosing a tax advisor is a tricky business. Think of it as being just as important as finding a physician for a particular ailment or working with an HR specialist for your business. You need someone specialised in taxation to adequately guide you with your specific tax needs.
Here are a few things to look out for when choosing a tax advisor.
Tax Education & Experience
The first thing you need to be alert of is your tax advisor’s qualifications. After all, they can’t help you with your advanced needs unless they’re adequately trained for it. This means that you need to ask them about their credentials and inquire about their tax education.
Most reliable professionals will be upfront about their qualifications. If you sense them avoiding the topic or giving you incorrect information, don’t proceed. You should be able to trust your tax advisor and deserve to know how well-equipped they are to handle your case.
Additionally, ask them about their experience in your particular area of interest. If you’re looking for a tax advisor who can guide you on property taxes, you need someone who specialises in that field. Don’t be afraid to ask for their experience! You can even ask for references for peace of mind.
Today, many tax advisors offer part-time services. Theoretically, there’s nothing wrong with this. The only issue is that you can’t rely on them if you need urgent assistance.
It’s always recommended to opt for tax advisors who’ll be available throughout the year. Your tax advisor shouldn’t just pop in during tax season and go AWOL after that. Worse still, they shouldn’t be unavailable during the busy tax season. Ideally, you should work with an advisor who’s just a call away whenever you need them
Finally, make sure you work with a tax advisor who doesn’t shy away from asking you all the necessary questions. A tax advisor with an inquisitive mind can help you in more ways than you think. Don’t be alarmed or annoyed if they have a couple of extra questions for you that you hadn’t expected. Them asking you for more details is a sign that they actually care about your profile and genuinely want to help you with your tax needs.
Look for a tax advisor who asks you about your long-term goals and wants to understand your financial dreams. Once they have this information and a better insight into your particular situation, they’ll help develop a customised strategy to facilitate major tax savings.
IBISS & CO Limited is a chartered accountant firm in the UK that offers a range of taxation and accountancy services to businesses in Walsall. Whether you need help with capital gains tax, property tax, or require a personal tax advisor, we’re just a call away!