Tax compliance work is usually carried out by accountants, rather than lawyers. For example, for advice on self-assessment tax returns, you will usually turn to an accountant.
The range of services offered by accountants varies and only some are authorised to provide financial planning advice.
The services that private client accountants may offer include:
The largest accountancy firms generally have a greater geographical spread than law firms. They may have tax experts positioned around the world and therefore have easy access to this potential expertise. Law firms argue they can buy in the required expertise from the best third party sources in any country around the world.
Whether you consult a lawyer or accountant, or both, it is important to check the potential fees beforehand. These can vary significantly and can be as high as £1,000 an hour. But it is possible to use partners at leading law firms in London for between £300 and £400 an hour.
The PAM Directory is a comprehensive guide on comparative data focusing on asset managers, investment managers, private banks, stockbrokers, wealth managers and multi-family offices, who provide discretionary and/or advisory portfolio management services for private clients.
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