(photo: Olga DeLawrence)
10.06.2020, 20:26

The Case for Specialist Tax Consultants

Business Administration, Finance, Insurance & Law

The long-term benefits of specialist tax accountants for businesses are frequently overlooked when discussion focuses too closely on their fees.

Tax accountants specialise in assisting clients with their financial and income tax returns, and bring a wealth of knowledge that can bring clarity to the most complex of company books. A professional tax accountant will untangle the most complex of accounts, and apply their expertise to finding additional sources of working capital.

Avoiding Tax Traps

There are so many areas where you might stumble if you decide to do your tax returns. This process can be very complex and to ensure that you do not fall into these traps, it would be best to have a tax accountant on hand. They will spot any potential traps early and help you steer clear of them.

Taking Advantage of Tax Exemptions and Breaks

Qualified tax accountants know all the different areas where your business might catch a break or take advantage of tax exemptions. You might not know about these areas if you decide to do the taxes yourself and you will, therefore, be submitting higher taxes than you should.


To ensure your tax accountant finds these breaks and exemptions for you, ask them explicitly to look at your tax returns to find these breaks and exemptions.

Keep Up with Tax Laws

Tax laws are always changing. Tax accountants will help you stay updated on the latest laws and help you avoid the penalties that would come from not following these new laws and rules.

They Can Help in Other Areas

Tax accountants are accountants first; they have just specialised in this one area. What this means is that the tax accountant can help you in many other areas. Some of these include offering business advice, helping you set up retirement plans, or even helping with asset management. You can find more information via Palmers UK on which other areas your tax accountant might be able to help. Palmers UK offers business support in many different areas, including helping with your tax returns. They can help you avoid the hassle and headache of doing these tax returns by yourself.

Avoid Penalties

If you are pressed for time, you might be late in filing your tax returns if you do decide to handle it yourself. It is understandable that as a business owner, you have so many different things to handle that you forgot to file your tax returns. A tax accountant will do your tax returns very fast, saving you time and helping you avoid unwanted late penalties.


Tax files and documents can be cluttered and complicated. To help sift through all of them and make sense of them all, you need someone who can keep track of them. Spending time doing the tax returns yourself can lead to you missing something that is obvious to a tax accountant.


Tax accountants will also avoid mistakes you might make as you go through the complex set of documents. This is because they pay close attention to detail and proofread everything to ensure it is in order. They also ensure there is no duplication of returns as that might lead to you paying more taxes than you should.

Help Plan for the Future

Tax accountants can help you handle tax-related expenses early. Once you handle these expenses, you will have a lot more time to focus on other aspects of your business.

Every business should hire a tax accountant. They will save you money by helping you avoid penalties for submitting your tax returns late, finding areas where you can get tax breaks and exemptions as well as helping you reduce the cost of filing tax returns.

Article rating:

vote data

Leave a reply

Simon Lane, Director, Leisure at Serco. (photo: Serco Group)
News Editor  - 07.07.2021

Serco Announces Major New Appointment

Serco has announced the appointment of Simon Lane in the newly created position of Director, Leisure, leading all contracts within the group's leisure portfolio.

Pictured: Jeff Dewing, Cloudfm Chief Executive Officer. (photo: Cloudfm Group)
News Editor  - 28.06.2021

A Leader in IoT Predictive Maintenance

Gartner has named Cloudfm a global leader in IoT enabled predictive maintenance in a new report on the benefits of the technology and its role in digital transformation across different industries.

 (photo: Rodolfo Clix)
Valpy Fitzgerald  - 16.07.2021

Beware of Power Purchase Agreements

Valpy Fitzgerald explains why hidden charges are derailing promises of higher purchase prices for businesses supplying energy into the UK's National Grid under power purchase agreements (PPAs).

 (photo: Cottonbro)
Andrew Barry  - 01.07.2021

Don't Sweat the Small Stuff

OUTCO managing director Andy Barry explains why packaged outdoor FM services makes sense for estates managers.

 (photo: Compass Group UK & Ireland)
News Editor  - 18.12.2020

Providing 20,000 Meals to Those in Need

The Wimbledon Foundation has extended its support for organisations addressing food poverty at Christmas and beyond as part of its response to COVID-19.

 (photo: CPD Global)
News Editor  - 18.12.2020

Ecolab Named to CDP A Lists

The Carbon Disclosure Project (CDP) has added Ecolab to its A List for Climate, as well as Water Security.

 (photo: Bodet SA)
News Editor  - 17.12.2020

Enhancing Home Worker Visibility

Bodet have extended the coverage of the Kelio time and attendance software solution to staff working at home.