Changing tax advisors – what should you bear in mind?

The decision to choose a new tax advisor for a company is an important strategic decision. It should not be taken lightly and one should be well prepared for a change.

The right tax advisor should not only help with tax optimization, but also provide valuable support in meeting regulatory requirements and financial planning . Finding a suitable advisor brings with it some challenges. In this blog post, we provide an overview of the most important aspects to consider when selecting a new tax advisor and the hurdles companies have to overcome.

Preparation and selection of the new tax advisor

Research and selection:

• Read reviews and take a close look at the websites of different tax consultants . Also get recommendations from trustworthy sources . These could be people in your circle, tax consultant chambers , the German Tax Consultant Association eV or professional online platforms and rating portals or similar. At steuerberater-wegweiser.de you can also compare potential tax offices, read reviews and filter according to your individual requirements.

Find the right tax advisor here

• Conduct discussions with potential tax advisors to determine their
  to assess competence and suitability.

Agreement and Contract:

• • The contract should regulate all important points such as range of services, fees and notice periods .

Here are some of the biggest challenges companies face when looking for a new tax advisor:

Complexity of tax legislation:

• • Complex tax laws that change regularly.
  • A tax advisor must therefore not only know the current laws, but also be able to apply them correctly and anticipate future changes.

Specialization and expertise:

• • There may be special tax requirements depending on the industry and size of the company, e.g. IT, pharmaceuticals, etc.
  • It can be difficult to find a tax advisor who has the necessary expertise and industry experience.

Trust and reliability:

• • It is essential to find a trustworthy advisor who works reliably and discreetly . After all, your tax advisor has access to sensitive financial data.

Cost:

• Finding a good balance between cost and quality is another essential task for the company when choosing a new tax advisor.
• Because they specialize in complex tax issues, tax advisors can be expensive.

Availability and accessibility:

• • Tax advisors are often fully booked . In order to be able to answer urgent questions promptly, it must be ensured that the tax advisor is easily accessible .

Technological competence:

• • Another important topic is the increasing digitalization of accounting and tax returns . A company should make sure that the tax advisor is familiar with the latest technologies and software solutions .

Communication:

• • In order to communicate complex tax issues clearly and comprehensibly , the tax advisor must be able to explain these topics in an understandable way to his clients.
  • This requires professional competence and the ability to convey information in an understandable manner.

Regulatory requirements and compliance:

• • Companies must ensure that compliance requirements are met and that the tax advisor meets and complies with all regulatory requirements. This also includes the tax advisor's continuous training and certification .

References and reviews:

• • To find out more about the tax advisor, it makes sense to read reviews and get references beforehand. This will help you assess whether he or she is a suitable candidate.

Chemistry and Collaboration:

• Ultimately, a successful partnership depends on good cooperation between the company and the tax advisor. Personal chemistry also plays a role here.

So that you can concentrate on what is important in your company, namely your core business , it is essential to work with a reliable tax office . Therefore, you should consider a number of factors when searching for and selecting a suitable tax advisor. These include various aspects from expertise and specialization to responsible cooperation in day-to-day business. Careful consideration and thorough research in advance are therefore essential in order to find a tax advisor who not only meets the tax requirements, but also acts as a trustworthy partner on an equal footing.

Would you like to read more? Here you can find out more about the topic "Changing tax advisors" as well as the most important tasks when changing tax advisors.