Today it is absolutely essential to have a trusted tax and accounting advisor. That's an idea that virtually all business people share, but why is it so important having a good accountant and tax advisor Whatever the size of our company and whatever our sector of activity? That is the important topic of today's article.
To find out why the figure of an accountant and tax advisor is so important for the smooth running of our business, the first thing we need to find out is which functions is performed by this type of company. As you can imagine, the list of tasks is quite extensive, so we have tried to summarise it in the form of a list, distinguishing the accounting functions from the purely fiscal ones.
Within the area of accounting, the specialised staff of the consultancy firm of your choice should be proficient in the so called General Chart of Accounts or PGC. This expert level knowledge is basic, but in addition the accountants in the consultancy firm must have a thorough understanding of the rest of the accounting standards that any company with headquarters in Spain must comply with, a regulation published and updated by the ICAC (Instituto de Contabilidad y Auditoría de Cuentas).
Another indispensable task we should ask our accountancy firm to perform is to know in detail our annual accounts, the dates by which we have to submit, financial statements and year-end closures, etc.
Within the TAX AREA, the consultancy firm we hire must guarantee not only that its professionals have a detailed understanding of the General Tax Law, They also need to be able to advise us on the best way forward. different tax deductions that exist and that we can use to save tax costs in our organisation.
But in addition to knowing and applying the regulations in force, a tax consultancy should also be responsible for the unavoidable communications This is a fairly straightforward task for a professional, but can be a nightmare for most business owners who have to focus on what is really important: growing your business.
If you have read the above summary of the main functions of a good accounting and tax consultancy, you will already have a good idea of the following why it is so important to devote time and effort to finding the best advice for our company. There are many reasons, but in essence we could put them together in two broad groups: save costs and avoid fines and problems.
A good accountant and tax advisor should not only keep our company accounts correctly, but should also help us to managing and saving on daily expenses, to apply for the tax deductions to which we are entitled, to advise us on the different ways in which we can flexible remuneration that we can propose to our employees, etc.
In recent years, Treasury has stepped up its business inspection work. This is all well and good, as all taxpayers must comply with their tax obligations, but we run the risk of failure to comply with regulations The solution? To have the support of an accountancy and tax consultancy that look after our interests and to ensure that we comply faithfully with current accounting and tax regulations.
Now we would like to read your opinion: do you think it is worthwhile invest in good accounting and tax advice? What has been your experience with such companies? Go ahead and write a comment.
