Tax reporting can be a daunting task for company owners, but is hiring a "tax accountants near me" really necessary? With the rise of online tax software and remote accounting services, is it still important to use your local tax accountant? With the range of tax laws and regulations to consider, is having an accountant who understands the reporting requirements for your company, more important than where they are located?
The Case for “tax accountants near me”
Face-to-Face Interaction
Traditionally, one of the main advantages of local accountants is the ability to have in-person meetings. Even though it is now easier to have “face-to-face” interactions regardless of location thanks to the likes of Zoom and Microsoft Teams, nothing quite replaces the trust and rapport built through in-person meetings.
Region Specific Knowledge
While all four regions of the UK largely follow the same corporation tax regime, there are some differences when it comes to income tax bands in Scotland, and unique VAT and Import rules in Northern Ireland in light of Brexit. A local accountant would be well-versed in these regulations and be able to provide tailored advice.
Networking Opportunities
Local accountants are often well-connected within the local business community. These connections can be beneficial for networking opportunities, referrals, and partnerships that can help your business grow.
The Case Against “tax accountants near me”
Certification
Anybody can act as an accountant in the UK, meaning that the tax accountant near you may not actually be qualified with a certification from one of the main regulatory bodies. This could result in poor quality work as the accountant is not held to as high a standard and has not undergone the same level of training as a qualified accountant.
Quality & Expertise
Let’s face it, the accountant down the road may not be very good. Even if they are qualified, they could simply lack the expertise in your industry or the resources to carry out the work on time. Be sure to check reviews and socials etc to ensure they are credible and will not just take on the work to boost their bottom line.
Cost
Certain regions in the UK have significantly higher operating costs for businesses. For instance, the costs of running a practice in London are substantially higher than in Northern Ireland, largely due to higher commercial rental rates and living expenses, leading to more expensive labour. As a result, obtaining accounting services from a tax accountant in London may be considerably more expensive than hiring an accountant from Northern Ireland with equivalent expertise and reputation.
What works for you
Ultimately you need to find what works best for you, whether the accountant is based in your area or not. Looking for someone who is passionate about what they do, who has a track record of proven results and positive reviews and is not just in it for the fees is a good place to start.
At MJ Kane we have an experienced team of certified professionals who possess skills in a range of industries and sectors and are passionate about what they do. We are not limited by location and are always willing to go the extra mile, often travelling across the UK to visit clients that prefer a more personal service. If you would like us to be the tax accountant near you then contact us today.
Author: Brian McBride
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