Finding a tax adviser can sometimes be a difficult process if you have not had to engage an tax adviser previously. Many small and new businesses make the mistake of completing their own tax returns in the early years. Often a Tax adviser can save tax in areas that individuals would not be aware of – this is money well spent.
There are few things more stressful than not having a good grasp on your finances and feeling unable to approach your tax adviser. So its important to get a good one; here are some tips on choosing an tax adviser for your business:
1) Try and choose a tax adviser before you start your business as they will be able to add value at the early stage.
2) Don’t accept a bad service from your tax adviser. You deserve better. If you change tax advisers your new tax adviser will deal with the handover so if you are getting bad advice or service then change.
3) Ensure your tax adviser works with small business clients and has experience in various sectors.
4) Ask what other services the tax adviser provide – do they provide business advice, can they do accountancy or have they contacts to help grow your business?
5) Get a fixed fee, paid monthly with unlimited telephone support so you won’t be afraid to call them when you need to them.
6) Go with your gut feeling, if you don’t think you will be able to get on with the tax adviser after the initial meeting then you probably won’t.
7) Ask for testimonials. A good tax adviser won’t mind if you talk to other clients.
8) Make sure your tax adviser keeps in regular contact with your business – not just at year end! They can hep and advise on capital purchases throughout the year.
9) Sometimes its best to have an tax adviser who has a smaller practice as they understand what it’s like running a small business also they won’t be tempted to pass your work onto the junior staff.
10) Make sure your tax adviser is fully qualified, for example as a certified or chartered tax adviser. Ask them what qualification they hold and check with the qualifying body.
McNamara Associates are Accountants and Tax Consultants based in Dublin. They offer a full service practice.