Knowing how to choose a well-qualified and competent tax advisor and ensuring 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 Bear in mind that incorrect or out-of-date tax advice can be very costly later down the line, and the cheapest advisor will not always provide the best service.

Presently, anyone can call themself a tax advisor as the tax advice industry is unregulated. Always check professional qualifications and membership of a recognised professional body. These advisors will have passed rigorous professional exams, are required to keep 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 here: www.taxadvicenetwork.co.uk. This online network of pre-vetted tax advisors enables users to search for an advisor, according to the type of advice required.

Having selected a company, look at the services they offer. If you are looking for international tax advice, a firm with experience in this area is required. A good place to start is by checking the firm’s website. Arrange an initial face-to-face meeting with the advisor, which should be provided free of charge. Ask plenty of questions, get to know them and get a good feel for whether they understand your particular requirements.

To follow up on your meeting, reputable advisors will then provide a tailored scope for the work required, the basis on which they charge fees and a quote for the work. Ideally quotes should be compared from two or three different advisers before choosing one.

Everfair Tax prides itself on having tax advisor-client relationships that last for many years and it’s important to select someone you will trust and who understands your needs.

Please visit www.everfairtax.co.uk for further advice, or feel free to give us a call.

essence info

Gillian Everall is Managing Director and Head of Private Client Tax Services for Everfair Tax based in Weybridge. Specialising in UK, US and Expatriate Tax advice, this is a unique tax advisory and compliance service to help manage personal, international complexities, or the changing of family or business circumstances.
Telephone: 01932 428536
Email: gillian@everfairtax.co.uk
Website: www.everfairtax.co.uk