What is a corporate tax accountant and what does he do? Corporate tax accounting refers to any company in the UK that is responsible for its own taxes. A tax advisor is one who is independent of his clients (which is why corporate tax accounting is often called ‘corporate tax accounting’!) and helps keep an eye on all of a company’s tax affairs. His main task will be to keep track of the companies’ assets, liabilities, and income statements and make sure everything is ready to present to the tax authorities for payment.
How do you get a Tax Advisor?
You’ll pay him a fee of course, but there are several ways to find a tax advisor near you. The easiest way is to ask your local accountancy firms for recommendations. Accountants are usually very good at knowing where to go and what to look for when it comes to finding a tax accountant.
Online Find Tax Accounting Company
The other way is to go online and find a corporate tax accounting company. There are many companies out there with websites that can help you find a tax advisor near you. These sites usually have search features that can bring up the information you’re looking for, or they’ll direct you right to the corporate tax accountants closest to you. Now corporate tax accountants aren’t all the same! You’ll need to find one that you feel comfortable with since the tax planning of most corporations is confidential, but that’s not impossible.
When you’ve found a few corporate tax accountants in London that you’re happy with, it’s time to meet them and see if they can help you with your own tax planning needs. Most will be more than willing to put you in contact with a tax advisor, but don’t make it there just yet. You still need to get all of your financial records in order before you talk with the tax advisor. Have all of your previous years of tax returns, along with your tax checks, current tax information, and all pertinent documents ready to go!
Corporate Tax Accountant
The corporate tax accountant should have a website that contains a lot of information about what they can do for you. Look for a page that says something like “we can help you with your business tax strategy.” This lets you know upfront that the corporation is offering to work with you and that you can expect someone from the organization to be talking with your tax advisor. If they’re local, it’s also a good idea to get their phone number. It may be best to call them on a regular basis to stay in touch.
Now that you’ve met with the tax accountant, it’s time to get everything together. Some tax accountants offer completely free tax planning, but keep in mind that this is based on what they can offer you, and isn’t an accurate representation of what they can do for you. Get everything in writing before you meet with them, and then follow up to make sure there are no misunderstandings. Don’t be afraid to go over any information that seems questionable or missing information that might be a deal-breaker for you. Don’t be afraid to walk away if you aren’t completely satisfied with a particular tax plan or information.
Meet with the Tax Accountant
When you meet with the tax accountant, they will ask some standard questions about your business, your assets, and your tax needs. They will look over everything with a fine-tooth comb to make sure you’re not leaving anything out. They may ask you for an estimated cost for implementing your plan, or for further assistance. They will look at your books to see exactly where your money is being spent and will help you find ways to increase efficiency and lower your taxes.
Meet with the corporate tax accountant before you know it, as they are usually booked the entire week. However, they can still come out when you have other important meetings, or if you need to do one last thing before tax time. Whatever you do, don’t wait until the last minute. You’ll regret it, as this is one of the most important meetings of your tax year. It’s also one of the most expensive, with fees ranging from $500 for simple questions to thousands for more complex audits. Get all of the preparation done early, so you won’t have to worry about it, and by meeting with a tax accountant as soon as possible you’ll avoid the extra costs and headaches.