I need an accountant

Superphil said:

The OP was quite clear that he wanted to find someone creative, not illegal, what does that mean when referring to business accountancy? To me it sounds like, "find any way that is legal to help me avoid paying some of the tax I owe", somewhat different to a consumer buying a readily available product, such as duty free or an ISA.

So much has been said about tax evasion and avoidance, so long as it's legal, that's OK is it? IMO there shouldn't be any legal loopholes. It should be out there, in the open, for all to see, and such that you don't need a "creative" accountant to find ways to avoid paying tax, like it is for those who earn a wage and PAYE through their pay packets.

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Pavilionaire said:

There's plenty of cheap accountants out there but beware false economy. There's a balance to be struck between compliance costs and how clued up the accountant is about ways to save tax / minimise tax.

Would you be happier paying £600 + VAT pa but paying £5K of tax, or paying £1,200 + VAT and paying £3K of tax?

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BigGully said:

Although I understand your sentiment, anyone would be foolish to assume paying £1 200 + VAT accountant would deliver a better service whilst minimising your tax liability against another unknown accountant charging £600 + VAT, in my experience the cost doesn't necessarily reflect either.

I have had a few accountants and solicitors 'help' me in my business's, sometimes their fee's seem almost made up with hardly any logic to the work carried out, so I think asking NSC and other trusted friends is probably the best option ........

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Pavilionaire said:

That's what the free initial consultation is for. For both parties to consider the best way of proceeding. Normally a good accountant will suss out your situation and work out the best way for you to proceed legally whilst minimising your tax.

The problem with the accountancy industry is that qualified practitioners who are obliged by their professional bodies to undertake continuous professional development and therefore stay bang up to date with the changes are competing with cowboys - anyone is able to file a Tax Return online but will they be able to work out a tax-efficient strategy considering factors such as VAT Flat Rate Scheme, spouse's earnings, Employment Allowance, Dividend and Savings Allowances, pension relief etc?

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BigGully said:

Again I am on your side here, but you might go to 10 different accountants holding exactly same qualification and CPD but each might have a different 'tax efficient strategy' and even then they might have wildly differing rates, thats really my point, accepting ultimately us the client needs to be responsible for our choices.

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