Tax adviser or accountant costs

[lyonsa3]

My wife is setting up as self employed to earn a few extra quid in her spare time (approx 7500 pa) and we have a investment property we have just started to let out. We need someone to set us up on the right track to see what can be claimed for and how the tax returns are done and accounts. I know a lot of people do all this themselves but as a novice i'm willing to pay at the start to get an expert to take advantage of all the tax breaks out there. What I want to know is what is the difference between a tax advisor and an accountant? And how much (ball park figure) would this help cost?

 

[Newby]

A tax advisor has (usually) specialised in tax and an accountant has (usually) specialised in the preparation of accounts. In reality an accountant and tax advisor will have some experience in both fields. If the tax side of it is very straight forward then a decent accountant should be able to provide your service.

The cost usually depends on the number of hours the professional will spend on the job. Usually if you are a start up they will give you a discount rate and in some cases have an initial free consulting.