Can Financial Advisers Give Tax Advice

The short answer to this question is yes. The thing is, financial advisers are trained to help you in many areas and tax is one of them. However, this is worth keeping in mind that financial advisers will offer different kinds of tax help compared to tax lawyers, accountants and other tax specialists.

Assuming you’re here for the details, in this blog post we will be talking about the tax area that a financial adviser can assist you in. Firstly, it is worth keeping in mind that financial advisers are there to help you make long term financial plans, one of which is to ensure that you’re paying the right amount of tax while your savings are generating you income.

If the tax isn't paid correctly as the HMRC requires, an unexpected and possibly high amount of payback may be charged (how much you owe). This is where financial advisers come in, they will advise you in the ways you are able to maximise your savings by investing in the right products, and based on the earnings of those investments, they will be making sure that you’re paying for the tax you’re required to pay based on your income.

Financial advisers have your best interest when it comes to helping you maximise your income. For example if they spot an opportunity for you to maximise your income and minimise your tax contribution while keeping it all legal and done correctly as the law requires, then they will present you with those options. Whatever financial advisers present to you, it will all be complying with the regulations to keep you out of sticky situations in the future. After all, that’s what they’re trained for - to help you make smart financial decisions.

So when we questioned ‘can financial advisers give you tax advice?’, we answered yes, the yes very much means that they will perform the due diligence checks to ensure you’re paying the right amount of tax and any plans for the future. They will ensure that you will be paying the right amount to avoid any charges in the future. In short, financial advisers help you legally make smart financial decisions while they do all the research, presenting you with the best products based on your circumstances and for you to make the final decisions based on what has been shortlisted for you.