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Topics: self-assessment tax season, Tax, Tax compliance, Tax outsourcing services, Tax preparation, Tax return, Tax Return Preparation Outsourcing

How to Find the Right Self-Assessment Tax Preparation Outsourcing Partner?

4 MIN READ | Posted on September 22, 2022
Written By Divya Ramaswamy

How to Find the Right Self-Assessment Tax Preparation Outsourcing Partner?

Thanks to technology that makes communication, data storage, and transfer process hassle-free, outsourcing has reached new frontiers. With the deadlines approaching and given how they are time-consuming, things can get even more hectic. When it comes to Self Assessment tax preparation, it is no surprise that accountants are increasingly seeking help from third-party service providers to make things easier.

Whether your clients don’t have all the paperwork handy or aren’t communicative, things can get delayed, and as the deadline approaches, they can get really messy.

The responsibility to file your clients’ tax returns on time does rest on your shoulders, and it doesn’t end when you opt for outsourced tax preparation services but only when you partner with the right provider.

Why outsource tax preparation?

Accounting practices utilizing tax preparation outsourcing services have seen increased returns completed during tax season. When you routinely use an outsourced tax preparation services provider or are considering switching to one, there is a necessary level of discovery that has to happen before you sign the contract. It is imperative to look for certain qualities that make one an ideal tax preparation services provider.

Or simply ask the below questions to find out if you should partner with a prospective outsourcing provider.

HOW DO THEY PROTECT CLIENT DATA?

Data security is crucial when it comes to tax preparation services, and it is essential to learn if your outsourcing partner has taken adequate measures to protect client data. Find out if their employees sign non-disclosure agreements and what are their network security measures. Irrespective of whether they work from the office or home, they must have comprehensive data protection measures to protect confidential client information. Maybe, also find out where the data is housed too.

WHAT KINDS OF ACCOUNTING PRACTICES ARE THEY CURRENTLY WORKING WITH?

While you might be able to get a complete client list from them, your potential tax prep outsourcing partner should be able to provide some details pertaining to the company size and region. It is best to learn if your outsourced service provider has an excellent reputation in the industry. It would definitely help to speak to some of their clients, especially those with similar requirements, to check how they rate the outsourcing provider. For example, QXAS is a preferred outsourcing partner to more than 400 accountancy practices.

WHAT TOOLS AND SOFTWARE ARE THEY USING?

An ideal tax preparation outsourcing services provider uses the best of tax preparation tools and software. Even if they don’t ensure they work on the same software as you, they should be willing to equip their staff to make the process seamless. The use of outdated tech and the lack of expertise can be a big downer, so find out what tools they use and what their staff is proficient in.

Top accounting practices partner with outsourcing providers that can work on a diverse range of tax software via a remote desktop connection. For example, QXAS’ offshore tax preparers have worked with all major tax software and can easily work with your preferred software.

WHAT IS THE LEVEL OF EXPERTISE THEIR STAFF HAS, AND WHAT LEVEL OF VOLUME CAN THEY HANDLE?

While zeroing in on a Self Assessment tax prep outsourcing partner, you need to choose one who is already an expert. You wouldn’t be hiring an outsourced tax preparer if you could deal with staff that needed hand-holding or coaching. When discussing return types, it is best to ask how much experience their offshore tax preparers have in terms of tax seasons and various return types.

Most reputed outsourcing services providers would be able to clarify that without concern. You should also discuss the company’s outsourcing strategy and find out the average volume of work they have dealt with over the last couple of tax seasons.

For instance, QXAS has an incredibly talented pool of tax preparers who are highly experienced in UK taxation with excellent knowledge and understanding of tax documentation. They are also proficient in tax software like IRIS, Capium, CCH, Sage, TaxCalc, etc.

OTHER DETAILS TO LEARN

Find out what their average turnaround time is and make sure that they have a projected turnaround time. Also, it is best to determine the level of visibility you will have into the progress of returns. It is essential to look for an outsourced tax preparation services provider with an automated workflow who will provide your firm access to that workflow.

WRAPPING UP

When you find a good fit in a tax outsourcing partner, they will actually feel like an extension of your company that works from a different location. While researching to zero in on the right outsourced tax prep service provider, ask the questions mentioned above to ensure that you both are a good fit for smooth sailing during the tax season.

QXAS- YOUR IDEAL PARTNER FOR SELF ASSESSMENT TAX RETURNS

QXAS’ Self Assessment tax returns outsourcing services ensure you get the best support. With us, you will be able to find the status of each tax return, ask for reports and identify those needing more work. Our FTE managers will check all tax returns twice before we would submit them for your review.

THE QXAS ADVANTAGE

  • Comprehensive data security measures at all times
  • Highly experienced tax prepares
  • Customised pricing & Flexible engagement models
  • India’s First GDPR & ISO 27701 compliant Tax outsourcing services provider
  • Fully compliant: ISO 27001 for information security and ISO 9001 for quality
  • 100% score in all BSI audits

Book a Consultation

We hope you enjoyed reading this blog. If you want our team to help you resolve talent gaps, reduce costs and transform your business operations, just book a call.

Originally published Sep 22, 2022 02:09:08, updated Sep 22 2022

Topics: self-assessment tax season, Tax, Tax compliance, Tax outsourcing services, Tax preparation, Tax return, Tax Return Preparation Outsourcing


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