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this post was submitted on 17 Jun 2024
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Asklemmy
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Can you do a quick financial professional jargon check for us?
I have an accountant, and she's employed for her expertise in the UK tax code as applicable to small businesses.
I understand that there are also accountants who work like financial engineers, trying to find tax-efficient schemes for large businesses. What's your business?
I am in sports now, we are international but employ consultants for international tax stuff. It's way too complicated. Our internal tax department does do some of the financial planning, yes, tax minimizing schemes as you say, working with the legal department. They also do some general reconciling of the tax liability accounts, sales tax and VAT on merch, that part is accounting but the planning stuff is more like legal work than finance.