Friday 4th April 2008
An industry body has recommended that Britons only source taxation advice from "properly qualified" practitioners.
The cautionary note comes from John Whiting, chair of the management of taxes subcommittee at the Chartered Institute of Taxation.
He says: "Not all lawyers and accountants know enough about tax to be tax advisers."
Mr Whiting points out that anybody adding an extension to their home would typically ask for recommendations.
Such an approach should also be taken to tax advice, he proposes, with only a reputable practitioner being employed.
"Make sure that you get an adviser you can trust," he urges of consumers.
The expert adds that the most suitable adviser for an individual could depend on their specific requirements.
Issues to take into account when determining what these are could depend on the individuals net worth, he notes.
Very wealthy people could need specialist advice on trusts and planning, while others may be catered for by someone familiar with compiling a standard tax return.
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