VAT calculations are tricky and require a VAT consultant’s services. No matter how well you manage your business activities, you will always need tax and accounts advisors. Different businesses can have varied needs, and based on these, they tend to hire VAT consultants. The role of these experts is extravagant in managing our tax and financing issues. “We tend to think of accounts as numbers people, but a good accountant does more than just figure the numbers,” says Ed Lyon, co-founder of the American Institute for Certified Tax Coaches. The following questions VAT faq’s will help you find the best consultant for your business.
Questions to ask before hiring a VAT consultant
Do you have the right qualification?
The first and foremost important question to ask these consultants is their qualification. They can only serve your business well if they possess the relevant knowledge. Since you need them for tax return filing and VAT related issues, sufficient knowledge is necessary. Look at the qualification he/she possess and ask questions that test their knowledge level.
Do you possess the relevant experience?
A consultant with the desired knowledge but a different work history will be of no use to you. Before hiring, ask them if they have relevant work experience in the same industry. Ensure that they understand your business and industry. The expert you are looking for must know the ins and outs of your industry. Have a thorough look at their previous work and hire them if it matches yours.
How detailed-oriented are you?
Tax services and filing demand detailed attention. The consultants should pay due attention to the smallest of activities for a fair outcome. With that in mind, ask the candidate how detailed-oriented he or she is. A key takeaway here is that don’t solely rely on the answer of the candidate. Ask further questions, check his/her previous work and get in touch with the last his/her previous clients, if feasible. Doing so can help you assess whether the candidate is the best fit for your business.
Can you demonstrate your success strategy?
Businesses can only go forward if run with the right strategies. Before hiring a consultant, you need to ask what they plan to do to make your business stand out. Ask for a demonstration and see if their views and strategies are clicking you. While they explain, try to catch their focal point and where they are investing their ideas.
Is he/she a good fit for your tax needs?
Different businesses look for consultants to fill their varied tax needs. Some professionals offer individual services while some as firms. As a business owner, you will look for the one who caters to your requirements. Know your expectations and ask the candidate whether he/she can meet your demands. If you are looking for a firm, the best VAT consultancy in Dubai can be the best option for you. Takes them on board and see your tax needs filled.
Is the consultant affordable?
Businesses tend to cut as much cost as possible on every activity. The same goes for hiring a tax expert. Companies hire the ones who fall under their budget limits. Ask the candidate about the charges he/she will take on the services. Before hiring, conduct thorough research and look for every possible opportunity. Avoid a hasty decision since it can cost you both time and money.
Do you have other entities under your name?
Another major question that can make a huge difference is this one. Ask the candidate if he/she has other entities working under his/her name. If yes, ask them how they will manage your business. Hiring someone who tends to make time for you as well as for another company can be problematic. Your business might not get the same attention level as it requires. Avoid such consultants and hire the one who focuses solely on your company.
How often will we communicate on tax issues?
Satisfaction about the frequency of meetings and communication for tax planning is necessary. It would help if you asked the consultant’s approach for communication frequency. “You want to feel comfortable calling them with issues relating to your taxes,” says Labant. You can contact the best VAT consultancy in Dubai for consultants who would pose better communication approaches. The more frequent the meeting, the more improvements in the tax system.
Why do you need the best consultant for your business?
The search for a better VAT consultant will never stop since businesses are in dire need of one. With these experts on board, companies can enjoy strong strategies relating to their taxes and accounts. Moreover, these professionals can help businesses meet the legal compliances imposed by the tax authorities. For better performance on tax and legal fronts, companies need to consult and hire best VAT firms these experts.