What is the difference between a tax adviser and an accountant?

 

An accountant is interested in the numbers, the nuts and bolts, whereas a tax adviser works on the overall tax strategy. Accountants will look at previous years to determine the amounts taxable and deductible, but a tax adviser is forward looking and will provide advice on how to effectively manage your personal finances and structure your business operations to mitigate your tax liability in the current and future tax years. For example, if you travel for work an accountant will be interested in the cost of the travel and a tax adviser will be interested in the route you took and if there is another travel option for appropriate tax mitigation.

 

How do I know if I need a tax adviser?

 

If you are looking to mitigate your tax liability either personally or professionally, you should consider speaking with a tax adviser. Future planning advice will ensure you are operating in a tax efficient manner and you are taking home the maximum pay legally entitled to you. If you have questions about your accountant’s calculations or strategy I can review their advice and provide you with my recommendations.

 

Are your fees tax deductible?

 

Yes, if they are used for business purposes. My fees are deductible when I provide advice regarding your self employment, corporation, or partnership, but they are not tax deductible for personal tax advice.

 

What does the initial consultation include?

 

We will discuss your current tax situation and you will have the opportunity to ask any tax questions you may have. I will provide you with my advice and you can decide if you would like to pursue the strategy. The 30 minute consultation is free of charge. If you would like me to review any documents beforehand please send them 48 hours prior to hello@flourfleet.com.

 

Where do you provide services?

 

Flour Fleet Advisory is based in London but provides services throughout England and Wales. My expertise in international tax also means those resident outside the UK or with businesses located outside the UK can also receive tax services.

 

Do you liaise with accountants?

 

Yes, I will work with your accountant to ensure their tax filings incorporate the strategies we have agreed upon.