Professional tax advice is in high demand because the legislation governing taxation changes regularly.
New laws and regulations are introduced, and their application can be difficult for a non-specialist to understand. Tax authorities generally do not provide individual consulting services. The situation may also be complicated by gaps in regulation and inconsistencies between different areas of law, making the correct interpretation of tax rules more difficult.
Specialist tax-consulting firms help resolve these questions and often provide related services, including accounting support. Their professionals continuously monitor legislative changes. A client seeking tax or accounting advice can therefore expect the matter to be assessed in accordance with the rules currently in force.
Knowledge and professional competence are the main reasons businesses seek tax consultation. Advice may be required when applying a tax relief, selecting the legal form and taxation regime of a new company, preparing tax reports or dealing with another transaction-specific issue.
An individual approach is one sign of a professional adviser. The particular facts are examined carefully before recommendations are made or action is taken. The proposed solution should respond to the client’s actual needs rather than apply a standard answer to every situation.
Forms of tax consultation
The growing demand for tax advice and the development of technology have created several ways to provide consultations. Depending on the complexity and circumstances, a client may choose:
- an oral consultation at the adviser’s office;
- an oral consultation at the client’s premises, particularly when documents must be reviewed;
- a written consultation containing formal answers to the client’s questions; or
- an online consultation through a website or by email.
The selected format, the amount of preparation and the complexity of the question directly affect the total cost of the service.