Q. Why do I need to use an expert?

A. Many people think indirect taxes are pretty straightforward taxes and will find out that this is not the case when it is too late, in terms of both time and money. So, whilst it will undoubtedly cost money to obtain advice from an IIT member, quite often this can be cost-effective in the long run. In fact the tax savings can be more than the adviser’s fees.

Q. Why should the expert be a member of the IIT?

A. The IIT is the only regulatory body whose members practice solely, or on a very regular basis, in indirect taxes. Not many people will know that to practice in indirect taxes a person is not compelled to belong to a regulatory body. Of course, there is no way of knowing what quality of advice or representation an unregulated practitioner will give and should you instruct a person who is unregulated and their advice proves to have been wrong or inadequate there is very little you can do.

Below we list the four main reasons why it is important to instruct a member of the IIT:

1. Associate members would have needed to have passed the Institute’s Associate examination, a very exacting examination, before they can apply to be admitted a member. Click here if you want to find details of the examination syllabus.

2. They are regulated – the Institute is their regulatory body.

3. They are subject to our Ethical Rules and Disciplinary guidelines (click here to see a copy of the Rules and Guidelines).

4. They have to maintain their continuing professional education to ensure they keep themselves up to date with all developments in the taxes they practice.

Q. How do you know a person is a member of the IIT?

A. They will be easily identifiable, as they will use the letters AIIT (Associate) or FIIT (Fellow) after their names.

Q. How can I confirm that they are in fact a member of the Institute?

A. We shall be putting a member register at the website and until then you can email your enquiry to the IIT (enquiries@theiit.org.uk).