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Guide to Finding the Right Tax Accountant in United Kingdom

Filing a tax return or submitting a self-assessment tax form is quite a headache. Preparing your accounts and tax return can be confusing, stressful, and time-consuming. Complex tax situation may need special tips and advice. It is recommended to hire a professional tax accountant for your taxing and self-assessment. Professional help such as UK Online Tax Accountant is inevitable if you are dealing with an HMRC investigation, paying off tax debts, or filing back taxes.

You will need a tax accountant if you want to invest in the property, moving abroad or starting a new business. With the right professional, you can deal with all sorts of challenges. Overlooking even the tiniest of details can cause havoc for you.

Referrals: Ask for Business People

Get referrals for a tax accountant from other business people. Ask for recommendations from financial advisors, business owners, friends, and family. Explain your reasons for finding a tax accountant so they can lead you in the right direction. Google can also help you to find valuable online services.

Cheaper services may seem lucrative, but avoid a tax accountant who promises perfect tax compliance even in the start. Make sure you stay away from him if he advises you to deduct some expenses without analysing your financial data. Moreover, feel free to shop around until you find reliable tax accounting services. If you are not comfortable or satisfied with a tax accountant, don’t shy away from changing him/her immediately.

Interview an Online Tax Accountant

You should ask for a HMRC Agent code of the preparer before hiring a tax accountant. Anyone who assists in the preparation of tax returns or prepares self assessment tax returns for money should have an Agent Authorisation from HMRC. Volunteer preparers may not need agent authorisation. Make sure the tax prepare put his/her agent code and details on the tax return. It is an essential requirement by the HMRC (Her Majesty’s Revenue and Customs office).

You may easily check the credentials of the preparer. A licenced practitioner, certified accountant, enrolled agent and a candidate who has successfully enrolled with HMRC. Accredited tax preparation or business accountant programmes may help potential preparers to meet the requirements of their annual CPD of regulated bodies.

If you have an internet related business, you will need an accountant with e-commerce knowledge. Considering the nature of your business, you should ensure that your selected candidate has experience of national and international tax issues.

Charges of Tax Professionals

The charges of tax professionals for tax returns and other services vary. A firm may charge £89 for self-assessment services. A cheaper deal can be £50 for salaried people who earn more than £100,000 per year. Charges for the tax returns of a self-employed person can start from £270. The fees for a complicated tax return can be more than a standard tax return.

Types of Different Tax Professionals

Tax professionals are specialised in different tax areas for complicated tax situations. They are responsible for representing you before the HMRC for audits and tax collections. Chartered Accountants and Tax Advisors often deal with investigations and compliance checks. They pass a difficult exams to qualify as Chartered Accountant or Chartered Tax Advisor.

Chartered Tax Advisors study tax laws. They have a Post Graduate Diploma in taxation law. They can manage complicated legal matters like tax appeals and represent you before the tax tribunal. Before hiring a tax advisor, you have to ask about his regulated body, specialisation, fees and privacy policy.

Make sure to perform a background check after an interview. Search his/her name on social media websites. You can also check the status of licence and find out if he is registered with HMRC or not. Alternatively you can contact his regulated body and ask for details about any disciplinary action against him.