Why would we need a consultant
when we have an accountant and year-end auditor?
An organization's in-house accounting professionals or outside auditor must deal with all areas of its operations. In terms of taxes, their emphasis is normally on ensuring compliance. The specialists at Capital focus on tax recovery and the myriad details contained in tax legislation. As former government tax auditors, they also interact with tax officials in order to be up-to-date on changes in legislation and administrative interpretation. Capital complements your team, bringing to it an area of expertise that can help recover the maximum tax refunds and rebates possible.
Won't a tax review disrupt our regular operations?
In fact, the entire review process will require very little time from anyone in your organization. Normally, it takes about 15 minutes of someone's time to review some basic questions with us. Then, all we need is for the required documentation to be available, a desk to work at and access to a photocopier. None of your documents will ever leave your premises. We'll photocopy the ones we need and put the originals back as you had them.
In addition, Capital obtains, completes and files all of the forms required by government. In other words, we handle everything involved in the tax review from start to finish.
How could tax overpayment happen?
Let's take sales tax as an example. A supplier will charge you tax because the item in question is normally taxable. They may not be aware, for instance, that your organization qualifies for an exemption on this item. It's up to you to tell them about the exemption. However, many exemptions are buried deep within tax law and it's very possible you were unaware it existed. A tax review will identify all of the exemptions to which you are entitled, so that you recover overpayments now and continue to save in the future.
Will the recovery amount be worth the effort?
In more than 90% of the reviews conducted by Capital, we
have identified recoveries or savings that
were significant to our clients relative to the size of their operations. Of course, since Capital works on a contingency basis, you only pay us if and when you receive a repayment cheque. Our fee does not come out of your existing budget, but from the savings we achieve for you.
Could a tax review end up with us owing money?
Our primary objective is to ensure your organization recovers the maximum in rebates or refunds. However, we have a responsibility to look out for your interests. This includes trying to make sure there are no surprises down the road. Therefore, should we identify any potential tax liabilities during the course of our review, we will bring them to your attention.
Will my business information remain confidential?
Absolutely. As professional accountants, Capital's consultants
are bound by a strict code of ethics. As
a business, confidentiality is built into our written agreement with clients. All documents or information to which we have access during our tax review will remain strictly confidential.