West Sussex, UK -- (SBWIRE) -- 08/22/2014 -- When searching for a Tax Adviser there are certain factors that should be kept in mind during the selection, V P Associates have created a list of important tax advice to help people when choosing tax advisers. They recommend:
Establishing the Requirements: Prior to going out for tax advice people need to properly educate themselves about the type of advice they need according to their tax requirements. They need to have the answer to the question: Does the tax work merit engaging general tax compliance advisers or a specialist in a specific filed of tax? This is important because there many forms of taxes. People need to establish if they require Personal Tax advice, Corporation Tax advice, Capital Gains Tax advice, Value Added Tax (VAT) or Inheritance Tax (IHT) advice. Within each form of tax further lie various schedules of taxes. Several tax advisers are experts and tax specialist in their particular tax faculty they practice but it is equally important to note that within the tax regime most taxes are inter-related and therefore it is essential to establish the scope of tax advice needed.
Checking Qualification: To ensure that they are in professionally qualified and capable hands, a quick call to the Chartered Institute of Taxation can verify whether the tax adviser is indeed a Chartered Tax Adviser is recommended. This gives people the protection and assurances of standards and professional conduct that goes with the recognised body membership.
Obtaining a Letter of Engagement (LoE): This letter outlines the realm of work that the tax advisor has been hired for. V P Associates prescribe that a LoE can be generic, if one specifically requires personal tax planning, then that should be covered in the LoE to avoid any doubt.
Maintaining a Professional Relationship with the Tax Advisors: It is vital to trust only a firm of professional qualified tax advisors for valued tax advice because the wrong choice of tax advisors can cost not just in fees but in tax, not least in heartache.
Organizing Tax document: V P Associates recommend preparing for the initial meeting with all the necessary documents and tax papers to eliminate the waste of time-cost and reduce eventual fees with the chosen tax advisors.
About V P Associates
V P Associates Chartered Tax Advisors and Chartered Certified Accountants, represent an authoritative source on most aspects of tax and specialise in the following: Self-Assessment Tax advice, Company and Corporation Tax advice, Capital Gains Tax advice, Buy-To-Let Property Tax advice, Tax Planning and Tax Consultancy Services. With over 25 years of experience in the business of providing expert tax advice, V P Associates Chartered Tax Advisors offer valuable information to clients to help them save money, reduce and mitigate tax. V P Associates, Chartered Tax Advisors & Chartered Certified Accountants, are the first and foremost specialists in taxation matters. Visit their site for a comprehensive list of services: http://vpassociates.com/
Company Name: V P Associates
Contact Person: Vipul Patel
Phone: 0800 160 1500
City: East Grinstead
County: West Sussex RH19 3BT
Country: United Kingdom