Tax advice – Imperative today

Tax advice from specialists must be a priority for taxpayers to ensure that tax records are updated and accurate, according to the Chartered Institute of Tax (CIOT). This announcement was made after official statistics showed that countries had a 35 billion tax gap at the end of 2010.

Ciot Representative for the Government Compliance Reform Forum, states that with REJAN 6 million per year is lost due to a taxpayers error, it is a must for everyone to see professional assistance in connection with their bookkeeping. To get professional tax help and advice, you can hop over to this site 

CIOT feels that this problem is something that requires professional tax advice. Part of tax advisers' duties is maintaining good records and delivering accurate tax returns, Ashford added. He did, however, state that errors can also go both ways.

Since HM Revenue & Customs (HMRC) is also prone to errors, the accuracy of the figures is quite questionable. For instance, we can't be sure if these estimates include the amount that taxpayers overpay when they don't take advantage of exemptions and reliefs they have privilege in.

How to get good tax advice

Before getting professional tax advice, many experts suggest making company background checks and understanding the responsibilities of tax advisors. In general, tax advisors not only set up documents and fill taxes, but they also help save money in the long term.