At Everfair Tax we pride ourselves on having Tax Advisor-client relationships that last for many years and it is important that you select someone you will trust and who understands your needs.
Knowing how to choose a well-qualified and competent advisor, whilst ensuring that they have the necessary experience is essential. Be sure to base your decision on the quality of the advisor and first impressions, with cost being a secondary consideration. Bear in mind that incorrect or out-of-date tax advice can be very costly later down the line and the cheapest advisor will not always provide the best service.
But, anyone can call themselves a Tax Advisor and the tax advice industry is not regulated, so always check their professional qualifications and their membership of a recognised professional body. These advisors will have passed rigorous professional exams, are required to keep their skills and knowledge current and provide annual statements to their professional organisation to prove this. In addition, they are also required to hold professional indemnity insurance.
The Gold Standard professional body for Tax Advisors is the Chartered Institute of Taxation (CIOT) www.tax.org.uk and US advisors should hold the Enrolled Agent (EA) or Certified Public Accountant (CPA) qualification.
However, finding an advisor can still be difficult and The Tax Advice Network will help you here. http://www.taxadvicenetwork.co.uk This online network of pre-vetted tax advisors enables you to search for an advisor, according to the type of tax advice you’re looking for.
Having selected a company, look at the services they offer. If you are looking for international tax advice, you need a firm with experience in this area and a good place to start is by checking their website. Arrange a face-to-face initial meeting with the advisor and this should be provided free of charge. Ask plenty of questions, get to know them and get a good feel for whether they understand your requirements.
To follow up on your meeting, reputable advisors will then provide you with a tailored scope for the work you require, the basis on which they charge their fees and a quote for the work. And ideally, you should compare quotes from two or three different advisers before making your choice.
And, if you would like any further advice, please visit our website www.everfairtax.co.uk or feel free to give us a call.
Gillian Everall is Managing Director and Head of Private Client Tax Services for Everfair Tax based in Weybridge. Everfar Tax specialises in UK, US and Expatriate Tax and provide a unique tax advisory and compliance service to help you manage your personal or international complexities and the changing of family or business circumstances. (Word Count 53)
Telephone: 01932 428536
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