Why our tax service is different and how does it benefit you?
There are 3 ways that we deliver over tax service to you as a client.
The 1st is vitally important, its tax compliance, its how we help you account for the tax
that is due and therefore we help you fulfil your compliance obligations and
give you peace of mind. It’s box ticked, brilliant, that’s really important and
a key part of the service we offer to you.
However, what we really like to do as an accountancy firm is to focus on two additional areas, that in the market place don’t tend to get delivered in a consistent way to clients. What we are about as a business is delivering services in a consistent
and optimized way to clients.
So the way that we do that with tax services, is that as well as offering tax compliance we also deliver tax advice and tax consultancy to you.
Tax advice is delivered to you in a singular area of tax where we will charge you a fee
and you will usually benefit to a greater degree from the work that is delivered
via tax savings that will dwarf the fee that is charged in that area.
We are usually able to spot that piece of tax advice really in 1 of 3 ways.
ONE: you come to us and tell us you are doing something, sometimes if we leave it to
that point, it can be too late for us to do anything, because maybe you have already done it, or taken it too far and we cannot do some planning that can help you better your position.
Two: sometimes the nature of the area is that we can do a surface level spot. In other words, if you are a new start up fitness center and incurring large equipment costs and you walk into my office, I would say to you, you should look at getting VAT registered. It is a surface level spot.
The reality with tax advice though is that there are over 1000 tax reliefs, incentives, allowances and planning opportunities, that can apply to any client and we cannot leave delivery of these services to just surface level spots.
So instead of waiting for you to come to us, we need proactively get on the front foot
with you and consult with you on the areas that could apply to you, as you move through your evolution as a business. And the way we do that is with tax consultancy, where we get under the skin of your business and really understand what the tax reliefs, allowances, incentives and planning opportunities are that at this point in your evolution specifically apply to you.
So (a) you are fully aware of what those areas and (b) we give you the full opportunity at implementing those areas with us. At every different point we will come to you and suggest to you an appropriate level of service and that level of service will be contingent on what you need. It will always comprise of the different tax areas; always tax compliance, often tax advice that we can initially identify you will need and we provide a level of tax consultancy that you need proportionate to where your business is up to.
If you think of your business as an iceberg, tax compliance is the tip, tax advice is the bit above the water (surface level) and tax consultancy is the majority of your business below the water. How we help you the most is by tailoring the package we offer to you with these three things in mind.
So how do we deliver to you as a client the different tax
consultancy levels I will go through this in the next article. (To be released shortly).
Until then take a look at the 32 ways you can extract value from you business: https://southbourneaccountancy.co.uk/32-ways-to-maximise-extracting-value-from-your-business/
Here is an example of how the tax consultancy service could benefit you: https://southbourneaccountancy.co.uk/prime-example-of-maximising-extracting-value/
1. Book a call with me: https://southbourneaccountancy.co.uk/contact-us/
2. Download our free guide on “7 mistakes to avoid – to stop your fitness business running out of cash” https://southbourneaccountancy.co.uk/fitness-ebook/
3. Connect with me on social media:
4. Book an R&D eligibity call: https://calendly.com/rdteam/15min?month=2020-11
5. Grab a copy of our “32 ways to extract value from your business” – tax savings. Here https://southbourneaccountancy.hubspotpagebuilder.com/32-ways-checklist-to-extract-value-from-your-business-save-tax-now