Why Accountants should do Tax Planning

January 29, 2019

As an accountant myself, I know that many accountants don’t want to stray into the financial advice market in case it goes wrong. It doesn’t need to be as black and white as that though.

When doing clients’ accounts and tax returns, it is easy enough for an accountant to recommend that someone see an Independent Financial Adviser (IFA) and potentially concentrate on pensions. You may have noticed when doing their accounts, that their tax bill has increased, and just about the only way to reduce that is contributions into pensions. This means you are at least helping your clients whilst not actually giving advice. They get the best of both worlds and is something that you won’t be held accountable for, but may get an income yourself from.

Accountants today should only recommend independent advisers, and that’s what MAP are. Moreover, the way we do our investing process keeps it that way, because we don’t outsource our investment process. What we invariably do for each client is invest in a spread of 10 investment funds through an investment platform, and then monitor those funds quarterly thereafter to ensure the client is always invested in funds on our approved Recommended Funds List.

In other words, we don’t let things drift, which is important when doing anything like this. Most people – even those that do their own investing – will treat investing as a one-off exercise, when in fact it needs to be a continuous exercise. MAP looks at all the funds that clients use every quarter, and if we are not happy with any fund, we will look to switch to others that we are happy with; so it is constant reviewing.

What could be better for your clients than using this kind of process, and your clients will love you for recommending this to them. They will then feel you are really looking after them with this kind of recommendation, and this will increase loyalty and client retention. Bear in mind we will also give you a percentage of the initial fee so that you can benefit from this as well as your client, and enable you to build an additional income stream for your business.

If you would like to find out more information or would like to start investing today, please contact Money Advice & Planning Ltd on 0345 241 1808 or e-mail us at

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