Where do Tax Advisors Turn for Tax Advice?

Where to turn for that extra support?

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Hi All

I'm AAT and ATT qualified and work in-house across a few companies looking after their accounts and tax matters.

99% of what I work on I'm comfortable with, but every now and again (say once every 2-3 months) I want to double check something, or have a basic tax query.

When this happens I Google it or lookup HMRC manuals etc. If that fails, I pay a tax advisor to answer my query.

We have a great external tax advisor we work with. However I'm finding that the more experienced I'm becoming, the less I need to use them for advice. And the less I use them for advice, the harder it is to build a long-term, cost effective relationship with them (as I suppose one query every few months is hardly priority for them)

Because of this I think they are hiking up their prices with me, last week I got quoted £1000 to answer a basic query I ended up finding the answer to in a HMRC manual for example.

 

If something is way out of my scope, of course you just swallow it and get the proper advice. But for that bit in-between, basic ad-hock queries that can be answered through some research, can anyone recommend any resources?

Resources I'm currently aware of:

Tolley's platform (tried it and bit overkill for what we need)

Ross Martin - some people have mentioned it on this site? I'm not familiar with it?

Fixed fee tax advice sites - I've seen some sites that charge say £130 fixed fee for a 30min call. Sometime a quick call is all I need, anyone tried these?

 

P.S. I do value working with a good external tax advisor, if anyone else is a tax advisor themselves and has a relationship with someone else for matters slightly outside their scope, could you shed any light on how you work this and keep it cost effective?

 

Thanks all.

Replies (9)

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By Postingcomments
22nd Apr 2024 13:52

They consult a tax adviser.

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By Tom+Cross
22nd Apr 2024 14:09

https://www.rossmartin.co.uk/

You can take a look, for nowt. After that, it's £54.oo each month, including Vat. Good value, I find.

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VAT
By Jason Croke
22nd Apr 2024 14:24

You can try helplines like Croner or Markel (pay a monthly fee for access to advisors), else you need to build relationships that are mutually useful and not just purely transactional, more so if you are a lone Accountant working across different firms.

Tolleys can be VERY technical and a grind to read (I have a sub), I prefer Croner-i as it has a little more relatable language (also have a sub and will cross reference against Tolleys at times but is generally a nicer read than Tolleys).

Not sure what your query is but £1k for "a basic query" sounds like they can't be bothered engaging with you for occasional one-offs, why not call them and discuss how fees can be lower for a longer term relationship, maybe throw them more than one query every 6 months.....also remember that one-off work can be a pain because they'll spend the first hour just doing their AML/KYC's before they even get to looking at the question.

Else if you only want a bit of advice now and then, just need to accept your limits and pay for the advice, over time you'll improve knowledge and experience.

Thanks (1)
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By David Ex
22nd Apr 2024 14:40

And remember. It’s your employer’s tax risk but your risk if you don’t take advice when you need it and something goes wrong!

Make sure your employer understands you’re doing your best to do what you can yourself but need external support occasionally.

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Stepurhan
By stepurhan
22nd Apr 2024 14:52

The Tax Advice Netwrok is there for one-off linking up with tax advisers on specialist areas.

https://www.taxadvicenetwork.co.uk/

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Replying to stepurhan:
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By johnward
23rd Apr 2024 09:48

£25 per month looks good

Would you recommend?

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By ireallyshouldknowthisbut
22nd Apr 2024 15:56

Does your PI insurance have any free techcnial help?

Mine is quite useful for very discrete questions, and also for forming questions to ask a paid for service once they have gone a bit further with it and I at least know which unknowns I dont need to know, and which I do.

I get more questions with them a year I ever use.

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By HL86
23rd Apr 2024 06:45

Indicator Tax Essentials are around £800 a year and can include a telephone helpline in addition to their online material. Which we previously used.

We are now using croner which Is a step up from them and very good, also with a helpline.

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Replying to HL86:
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By johnward
23rd Apr 2024 09:47

When I worked for a firm they had croner, how much do you pay roughly?

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