Tax consultants, also known as tax advisors, are experts in tax law, planning and compliance. They serve businesses and individuals alike by staying current on new tax law and positioning taxpayers for short- and long-term tax optimization. A tax consultant typically expands on the role of a tax preparer. While tax consultants prepare tax returns, they also often work closely with clients throughout the year to ensure client tax liability is minimized.
Adams Watkins & Co has been specialising in accountancy and taxation services throughout the UK since 2003. We are a firm of accountants based in Dartford, Kent but also service clients nationwide.
In addition to our qualified staff, we have the skills, knowledge and charisma to handle all of your accounting needs. We are ready to tackle any challenges that you may have from tax planning to payroll, Vat and year-end accounts. Offering a low cost, fixed fee service helps you budget more effectively and avoids any unexpected bills.
For further information, or to enquire about our services, be sure to contact our extremely helpful team.
What Is A Tax Consultant?
For many people, the process of filing an income tax return is daunting. Tax laws change frequently, and many individuals and business owners are simply unaware of the myriad of rules that govern deductions, credits and reportable income. As a result, the average taxpayer often makes mistakes that can result in the underpayment or overpayment of taxes. Taxpayers may be subject to an HMRC enquiry, with possible penalties if they have underpaid their taxes. If the taxpayer overpays their taxes, they lose money they’re entitled to.
A tax consultancy is a business that provides expert advice to taxpayers. A good tax consultant understands tax laws and is able to advise strategies that minimize obligations while also reducing the chance of an enquiry that could lead to a conflict HMRC. In addition, tax consultants can prepare tax returns and other documents on behalf of their clients.
What Is A Tax Consultant’s Job Description?
Tax advisers/consultants are the experts in providing commercially-focused tax advice and tax services to a wide range of clients who operate in all sectors of the economy. This involves devising tax-efficient strategies for multinational and domestic-based clients in diverse business situations, including mergers, takeovers and corporate reconstructions. Tax consultants work continually to help ensure that their clients make the best business decisions in light of fiscal change and development. They monitor and anticipate changes to tax legislation and respond quickly with advice specific to their clients’ particular commercial requirements.