What does a VAT Tax Consultant do?
Your VAT tax Consultant is responsible for managing your VAT liabilities in general and as well as informing you of VAT implications of specific transactions too. What jobs your tax consultant does do or shoukd do depends very much on what services you have contracted with him/her.
Some General Responsibilities of a VAT Tax Consultant:
- Ensuring VAT Compliance with proper Reporting
- Ensuring minimization of VAT liability
- Identifying Risks and opportunities with Due Diligence Tax Planning
- Liaising with HMRC for all audits, enquiries and documentations
- Managing all month end processes on time
- taking care of all relevant deadlines so that you can focus on your primary business.
Take a Look at Our VAT Services
Remember, a good tax consultant will make sure you do not have to pay heavy taxes, do not commit any noncompliance or do not end up paying penalties for filing returns wrongly. A focused VAT and other Taxes Strategy can save you millions over the life of your business.
Qualities of a Good VAT tax Consultant:
VAT is one of the most complex UK laws. Most entrepreneurs and business managers are still striving to understand what difference VAT makes to their business sustainability and profitability. Almost none can claim that they know how to file VAT accurately or manage VAT account with HMRC properly.
Unfortunately, most VAT tax cosultants, or so they claim, also do not know enough about VAT and its calculations. Constant changes to the VAT system makes things more complicated. Ironically, after charging VAT to its citizens for almost 5 decades now, the UK VAT system still seems to be developing.
Remember to choose a VATTax Consultant that has experience enough to understand the workings of UK tax laws. Do not go by just brand name; look at track record of your designated tax consultant in person.
Meet Certax Fitzrovia Tax Consultant Raza Laghari
Is your VAT tax Consultant a creative thinker? Does he/she think out if box solutions to actual complex VAT issues that your business may face? Can he suggest you alternative plans to lower VAT liability? Essentially, any tax consultant should be Creative at heart. Their problem solving skills need to be sharp and proactive.
You would know your tax consultant is good enough if he warns to tax implications of multiple scenarios in advance rather than when situations actually occur. Tax consultants think in Long run implications rather than just immediate implications.
Interest in your business
Your VAT tax Consultant should have interest in your business. This is not to say he should know how to run your business, but he should be broadly aware what your business is about and show willingness to understand your industry norms. Remember VAT implications vary from industry to industry.
Make sure you and your tax consultant are on same page regarding your goals and aspirations about your business growth and expansion. Your VAT strategy should reflect your furture business objectives and your tax consultant should know what these are!
Always check if your tax consultant has attention to details of your business? Is he interested in just you paying for his services or has interest in understanding your business so that he can develop a tailored strategy for you.
Always look for a VAT Tax Consultant who you can work with comfortably on a table. Choose a person who you can talk to and who can listen to you, your issues and understands your goals and objectives. Your accountant and your tax consultant shoukd be a person who you can talk over a coffee or lunch! Always select a commercially aware person to be your tax consultant. best tax Consultancy services take account of all recent and expected changes in laws.
If you are looking for an experienced VAT Tax Consultant in UK, contact Certax Fitzrovia. We are certified accountants and Tax Consultants based in Central London. CONTACT US here or call us at 020 8004 4608. We offer a free one hour initial consultation to new clients.