Equestrian specific accountants

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Wheels

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For those with equestrian businesses do you think it's necessary to employ an accountant specialist in equestrian businesses? Or more practical?
 
No. A business is a business
I'm an accountant and my clients are very varied. I don't need to be a specialist in each trade to do my job properly.
 
I don't think it's essential but it can really help if your accountant understands where you are coming from. I'm an accountant but I also offer business management and development support so maybe I view things from a different perspective from someone who just deals with the tax man. Feel free to message me if you want to chat through the questions to ask when you speak to a firm.
 
Someone with knowledge of horses is more likely to know where you can claim VAT back in the equine world. My cousin does equine accounts and saves people quite a lot each year.
 
EQUIDAE said:
Someone with knowledge of horses is more likely to know where you can claim VAT back in the equine world. My cousin does equine accounts and saves people quite a lot each year.
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Why would they! Any accountant thats any good should not need any specific knowledge its all pretty straight forward VAT is dealt with the same as any other business. Why do people need to complicate things unless trying to find a niche for their skills maybe.
What is your cousin saving them that they are not already entitled to ? Accountants can help those who are totally without knowledge but they do not hold a golden key to a treasure chest. No need for a specialist though.
 
Any good accountant (or tax adviser - I'm one of those) should take the time to understand your business well enough to get to the right figures for your accounts, tax returns etc... Someone with a little knowledge of things equestrian might need to ask less questions to get to the same level of understanding you business than someone non-horsey, but you could say the same of any industry.
 
popsdosh said:
Why would they! Any accountant thats any good should not need any specific knowledge its all pretty straight forward VAT is dealt with the same as any other business. Why do people need to complicate things unless trying to find a niche for their skills maybe.
What is your cousin saving them that they are not already entitled to ? Accountants can help those who are totally without knowledge but they do not hold a golden key to a treasure chest. No need for a specialist though.
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Not quite. I specialist in the aviation industry - VAT is a minefield as there are specific rules BUT any accountant worth their salt will be able to suss out specific rukes and be able to advise on most business sectors.
 
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