One of the most misunderstood things about accountants, is that they are only good at adding up numbers.
This is often seen as having quite funny by accountants, as only a very small part of their role is actually adding up numbers. A lot of what they do relates to knowing the right rules, regulations and procedures in order to make sure your financial statements are correct. If the only skill wasn’t adding up, then it wouldn’t take so long for accountant to qualify to be able to advise.
If you are thinking about finding an accountant, they really doesn’t matter where they are situated, as cloud technology has made the ability to produce financial statements and provide tax advice remotely, significantly easier than before. I have met countless accountants in London, who advise clients from Scotland and vice versa. Accountants in Leeds will often advise client in Manchester, or even further afield.
In larger firms or specialist firms, you will often find accountants or tax advisers who advise clients from overseas they have never met, principally because it takes real specialist to know tax laws from residents or the regulations around special working rules.
Accountants train for years and years in order to be able to advise, which is why they are highly paid profession. Depending on which form of exams or qualifications your account has, they may be able to advise on different matters.
Often people confuse accountants and tax advisers, and whilst most accountants will have a good understanding of tax, tax advice in itself is a very specialist field with lots of different rules and regulations and specialist subjects.
For example, you will often find in a tax department a number of general tax specialists, whilst there will be individuals who specialize in employee taxes, capital gains tax, income tax, inheritance tax-or even specialist forms of very specific taxes, such as tonnage tax.
There are a number of tax advisers and accountancy firms in Leeds, all of which provide excellent service and professional advice to a wide variety of clients.
Tax advisers themselves will go through various qualifications, in order to be able to advise and the Chartered Institute of Tax governs regulated tax advisors and has as a very high standard of professionalism. In the same way accountants which can be regulated by the ACA, CIMA, the ACCA -all of which are professional bodies which can advise you on the right accountant you need to choose.
Searching for an accountant can be a minefield, hopefully above provided some insight on some things you can understand about accountants and hopefully persuading you that choosing the right accountant can provide significant value for you.
Keywords: accountants, finding an accountant
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