How helpful is consulting one of Big4 accounting firms for tax optimisation strategies?

[DavidS]

Wondered what experience have people had with tax consultants from Big 4 tax consulting firms?

Any information would be very valuable.

 

[JohnLocke]

Compared to what they charge per hour I have not got what I paid for, at least I don't feel like I have. When it comes to audited tax reports they are the best because you no tax office is questioning such reports if they are made by one of these firms.

When it comes to complicated tax or legal question I had the best experience with consultancy firms where I can speak to a PARTNER someone that can make decisions and don't need to ask anyone. Typical they are smaller firms but specialized to service medium and large corporations.

 

[Sols]

Unless you have some very sophisticated needs and very deep pockets (or absolutely need an audit practically no one will bother questioning), you can get just as good value by working with slightly smaller firms.

 

[gmbh]

I had a consultation with Deloitte. Didn't got any new or better information than I already got from the one man shows.

 

[John Spectre]

My friend contacted pwc in question of correct moving to another county in relation of tax residency and other legal questions.
In result they gave him wrong information.

Also I know personally one man in deloitte, who is in position lawyer there. And i can't said that he is better then other from 'noname' firms.

 

[blizz]

I had a consultation with Deloitte. Didn't got any new or better information than I already got from the one man shows.

They are good if you have troubles with the tax office. Otherwise they are waste of money unless you are into really big projects in really big corporation which they are born for.

 

[DavidS]

I guess it largely depends which specific person you get in touch with.

They are good if you have troubles with the tax office. Otherwise they are waste of money unless you are into really big projects in really big corporation which they are born for.

Are they good to prepare defense in potential troubles with tax office?

 

[Roamer]

Typical they are smaller firms but specialized to service medium and large corporations.

Any specific UK ones you would like to share? Mostly about moving the co to the Channel Islands, and its tax residency (i.e. CMC, hire a solid and credible board of directors, etc).

 

[brescape]

I was in touch with them with relatively and general advise about dual countries residency, corp taxation, and PE, and they asked me around 19k.
I though was way out of the park (by a factor of 12) for the type of advice asked, that probably was worth 1/2 days of work.

 

[DavidS]

There are some stringent regulations implemented recently by EU where tax advisors and accountants have to report to their tax office if they offer client's any schemes to circumvent tax or optimise tax. Any more info on this? Are they actually reporting this to the tax office?

 

[Sols]

There are some stringent regulations implemented recently by EU where tax advisors and accountants have to report to their tax office if they offer client's any schemes to circumvent tax or optimise tax. Any more info on this? Are they actually reporting this to the tax office?

That is correct. It's called DAC6, if you want to do some deeper reading. Here's a summary: https://www.vistra.com/insights/eu-mandatory-reporting-tax-aggressive-cross-border-arrangements-dac6

 

[DavidS]

That is correct. It's called DAC6, if you want to do some deeper reading. Here's a summary: https://www.vistra.com/insights/eu-mandatory-reporting-tax-aggressive-cross-border-arrangements-dac6

So what are solutions?

Can't even go to a Big4 office anymore and ask questions like a normal human being?

Now you have to skimp around local coffee shops and organise "dates" where you talk about "theoretical scenarios"?

Do they actually report in practice?

Seems so stupid.

So you just change "I" to "in a theoretical scenario A PERSON".

Or say you are writing a dissertation and need info for theoretical scenario modelling.

It sounds so silly.