Top 7 tips to tackle the upcoming Tax season rush

Picture this scene: Boxes of paper receipt are piling up. Your resources are stretched to the max, and then more personal tax returns flood in.  Sounds familiar? It must be tax season already!

The run up to the 31 January self-assessment deadline is a tough time. But there are ways to reduce the headaches that come with it. By following these tips you can ensure there is no pressure on you and your team.

1. Plan ahead so that business development doesn’t get left behind when the team focuses on meeting the all-important deadline.
2. Learn to say no. It’s always the ‘yes’ people that suffer from stress. Impose your own deadlines, you can always post earlier than HMRC’s.
3. Simplify. Make it easier for your clients to provide you information. Have them complete a tax return checklist before they schedule an appointment with you.
4. Track progress. Have good systems in place to know where you are with each client.  Keep an eye on completions, and check that your records match those in HMRC’s agent list.
5. Set fees at an appropriate level. Charge higher fees if data comes in late, but it is better to reward a lower price for early or on-time data.
6. Spread the workload.  Aim to finish about 75% of your annual PTR work by the end of December, and 25% workload in January.
7. Consider other options. Outsource anything that someone else can do cheaper than your own hourly price/value.

Find out more about how QXAS can make the tax season more profitable.

Email us at [email protected]
Call 0845 838 2452