"My accountant suggested I speak to a specialist..."
One of the nicest compliments I receive doesn't come from a client.
It comes from another accountant.
Every few weeks, I'll receive a telephone call that starts something like this:
"Jonathan, we've got a client with a trust..."
Or...
"Our client is selling part of their garden and we'd appreciate a second opinion."
Sometimes it's an executor dealing with a complex estate. Other times it's a disclosure to HMRC or a Capital Gains Tax issue involving property.
The conversation usually ends with the accountant saying,
"This isn't something we deal with every day."
And that's exactly as it should be.
Nobody can specialise in everything
Tax legislation has become increasingly complex over the years.
Most accountants spend the majority of their time helping clients with annual accounts, bookkeeping, payroll, VAT and business taxation.
At the same time, areas such as trusts, estates, Capital Gains Tax, inheritance tax and HMRC disclosures have become increasingly specialised.
It's simply not realistic for one adviser to be an expert in every aspect of taxation.
The same is true in many professions.
A solicitor may specialise in family law but refer employment matters to a colleague.
A GP refers patients to consultants.
The best professionals recognise when a specialist opinion will benefit their client.
A conversation that illustrates the point
I remember receiving a call from an accountant acting for a long-standing client.
The client owned a property that had once been their family home before being let out. They had now received an offer to sell part of the land for development.
The accountant had already identified that Capital Gains Tax was likely to be relevant.
However, they also recognised that questions around Principal Private Residence Relief, the apportionment of the property's original purchase price and the wider tax consequences deserved a more detailed review.
Rather than guessing, they picked up the telephone.
Together, we worked through the facts and provided the client with clear advice before contracts were exchanged.
The client benefited from specialist input, while their accountant continued to look after their wider affairs.
That's exactly how professional collaboration should work.
A second opinion isn't a criticism
Occasionally, clients worry that being referred to a specialist means something has gone wrong.
In reality, it's often the opposite.
It demonstrates that your accountant wants to ensure you receive the best possible advice on an area that falls outside their day-to-day work.
In my experience, the strongest professional relationships are built on collaboration rather than competition.
Our role isn't to replace your accountant.
It's to support them where specialist personal tax knowledge is required.
The value of asking early
One theme runs through many of the referrals we receive.
The accountant has recognised that the client is about to make an important decision.
Whether it's selling property, restructuring a trust or dealing with an estate, they want to understand the tax implications before anything becomes legally binding.
That early conversation often gives everyone much greater confidence.
It also helps avoid the phrase I've heard more times than I'd like:
"I wish we'd asked that question before we exchanged contracts."
Jonathan's Tip
If your accountant suggests speaking to a specialist, don't see it as a sign that something is wrong.
Quite the opposite.
It usually means they're making sure you receive the best advice for your particular circumstances.
The best advisers know when to ask for another opinion.
Working together
A significant proportion of our work comes from accountants, solicitors and independent financial advisers who continue to look after their clients while asking us to assist with specialist tax matters.
That might involve:
complex Capital Gains Tax calculations
trust taxation
inheritance tax planning
estate administration
HMRC disclosures
technical reviews before major transactions
Once the specialist advice has been provided, the client simply continues working with their existing professional adviser.
Further reading
If you're facing one of these situations, you may also find these articles helpful:
Capital Gains Tax on Property in the UK: Rules Many Owners Misunderstand
Trust Taxation Explained: The Key Issues Trustees Should Understand
A final thought
One of the things I enjoy most about my work is collaborating with other professionals.
We all have different areas of expertise, but we share the same objective: helping clients make informed decisions.
If your accountant, solicitor or financial adviser has suggested obtaining specialist tax advice, don't think of it as being passed from one adviser to another.
Think of it as having the right people around the table before an important decision is made.
