At CKLG, we offer the best of both worlds. Our Business Services Team provide expert accounting services, while our Tax team specialise in tax advice. Although the roles of an accountant and a tax adviser often overlap, they serve distinct purposes when it comes to managing your finances.
So, when should you seek the services of an accountant versus a tax adviser?
An Accountant focuses on the preparation and maintenance of financial records. They ensure your books are accurate, your financial statements are in order, and you comply with accounting standards. They may also help with cash flow projections and budgeting. Accountants are involved in bookkeeping, payroll, financial reporting, and general corporate tax filing.
A Tax Adviser, on the other hand, specialises in tax law, planning and strategy. They offer expert guidance on minimising tax liabilities, navigating complex tax regulations, and planning for future events. Tax advisers tackle more intricate tax issues, such as Inheritance Tax and succession planning, residence & domicile concepts and the associated international tax issues, and business tax considerations such as profit extraction.
Both professionals play crucial roles in compliance and strategy, supporting your financial records and optimising your tax position to help you save money through strategic tax planning. Accountants are typically certified by bodies like the Institute of Chartered Accountants in England & Wales (ACA), Association of Chartered Certified Accountants (ACCA) and the Association of Accounting Technicians (AAT), while Tax Advisers hold specific tax qualifications gained through the Charted Institute of Taxation (CIOT) and the Association of Taxation Technicians (ATT).
At CKLG, our Accountants and Tax Advisers work closely together to support both business and private clients. Each brings unique strengths to the table. For routine financial tasks, an Accountant is essential. But when it comes to specialised tax planning, a Tax Adviser provides the expertise you need. For comprehensive financial health, it’s beneficial to use both professionals to cover all aspects the financial management of your business.
If you’re in need of financial support, reach out to the CKLG team—our Accountants and Tax Advisers are here to help!
