Business Tycoon banks his money in Castleford

Quote: Hatfield tiger "i personally find this talk of underhand business activities, tax avoidance, and a lack of moral ethics somewhat of a personal insult. I am a chartered accountant and am proud to say i am. The average chartered accountant will spend at least six years one way or another training and passing exams before they can use the term chartered accountant. They then spend another two years post qualification before they can even represent a client and a further two before you can sign a set of accounts or tax computations.

It is one of the most heavily regulated industries in the country (potentially behind law and medicine) and every year i have to submit details of why i am a "fit a proper individual" to represent clients to a panel at the icaew to be allowed to continue practicing. Combine that with the six monthly ethics training i have to attend and you may begin to understand why the implication that the industry and the firms within it are somehow "dodgy" is somewhat offensive.

Before you start to discredit a firm you may actually wish to understand what these companies do. And i mean really understand what they do rather than take the tabloid stance of banks/financial services and professional firms as being somehow harmful to our economy

Probiz are fundamentally a group of accountants who act under the umbrella of "Probiz". They are a business advisory company who deal in professional services. Much like PWC - Ernst and Young

This may involve accountancy services including financial reporting, taxation and business restructuring.

It will also include services such as corporate finance, legal and statutory services and marketing services, along with providing things such as detailed business plans to companies to help assist banks with lending overdrafts.

Of the services above i think you will the majority help to create value for their clients rather than as you put it "help them to not pay as much tax".

Moving onto your second point:

This talk of the wealthy people paying accountants to pay less tax is true. However what you have to remember is that if a wealthy individual saves tax via an accountant it leaves him or his company with more income to spend or invest. i.e. to create new businesses and in turn create new jobs - who in turn pay tax on their earnings.

All individuals in society pay a basic rate of tax on all their earnings. 20% on pay up to £40k. Whilst the wealthier pay twice as much tax as basic rate tax payers on income of the £40k threshold. This idea that somehow the poor pay more because the rich pay less as you can see is simply incorrect.

What accountants do is simply apply the rules to a scenario so as to minimise client’s tax. We do not make the rules. We do not bend the rules (unless we want to go to jail). If you want to blame anyone blame all politicians as they make the rules.

If you really want know what accountants do - so next time you feel like insulting a profession/firm/individual who the majority of society hold in high esteem have a look here:

You show great loyalty to your occupation however, are you saying that all companies and all those people making millions a year pay income tax at the correct level YES or No. Do you also believe that the salary cap is fair or are there loopholes within the system that allow clubs to spend greater amounts on players contracts than others YES or NO