Elena Meskhi & Co’s innovative team of certified tax accountants ensure that our clients and their businesses comply with HMRC’s latest guidelines and are aware of all their tax liabilities. Our tax advisors will also provide our clients with tax planning activities in addition to completing and filing tax returns and ensuring that our clients fully understand the current legislation imposed by HMRC. These legislations are constantly evolving, and who better than a certified tax advisor to share & explain them to clients?
At Elena Meskhi & Co, our tax-related services are charged based on the size of the transactions in the client’s business. One important tax-related service we provide, in addition to the typical tax returns, VAT returns, tax planning and tax consultations is professional representation during tax investigations.
If you find yourself under the radar of HMRC for a tax audit, we are here to assist you and take the weight off your shoulders. We have a stellar 95% success rate in handling client tax investigations by the tax office, as we have ex-tax office members and certified tax advisors on our team.
Although completing your tax returns and filing them is no rocket science, it’s always advisable a professional tax accountant should take care of that matter. And that’s for one simple reason; avoiding errors in your tax return. What’s wrong with having a couple of errors on your tax returns to HMRC? Errors tend to raise red flags, lack of representation (doing your own tax returns), and could trigger a tax investigation or, even worse, penalties!
That’s not all. From a non-legal perspective, the lack of accounting and tax experience a business owner may cause them to overpay or underpay their taxes. Also, not what you want to project to the tax office. Not to mention the obvious mistake business owners tend to make when preparing and filing tax returns: missing HMRC’s deadlines! And this mistake could penalise the business owner or, worse, lead to a tax investigation.
Professional accountants, like our team in Elena Meskhi & Co., aim to reduce the clients’ tax liability legally. How so, you might ask? Because we have worked with multiple clients across several industries, we know which areas our clients can save money on taxes. For example, when you purchase new equipment for your business, you can write off the taxes.
Moreover, accountants do save you money when you think of it. Calculate all the hours you would spend each week managing your accounts and doing bookkeeping, and when it’s the right time, you would need to submit your tax returns and VAT returns to HMRC. Our tax accountants would save you all those hours. After all, time is money!
If you are planning to meet with a tax accountant for a discovery call or consultation, don’t come empty-handed. Do you want to book a discovery call with professional tax accountants? Use this link to book your no-obligation discovery call.
Now let’s dive into what you need for that initial meeting. Before your meeting (a few days before), make sure to send the accountant you met with last year’s tax returns. This is a great way to let the accountant in on your business and its operation.
Other documents or information you need to prepare for your initial meeting with your accountant include your personal data, tax file number, sources of income, tax deductions, and other important information available on your bank records. And if you want this meeting to go on as productive as possible, make sure to prepare a record of your firm’s assets and the increase in assets over the last year (if any).
This way, when you meet with your tax accountant, they will have formed this comprehensive and extensive business overview. At Elena Meskhi & Co., we encourage you also to take the Success Test. It was designed by our CEO Elena Meskhi to help pinpoint the key issues that are stopping you from reaching your business goals. It will give us a clear picture of the most important issues we need to address.
