Accountant's Guide to Make Self Assessment Tax Return Process Easier with Outsourcing
December 24, 2021
Outsourcing has reached new frontiers, thanks to technology making the communication and data storage and transfer process even trouble-free. Tax returns are time-consuming, and with the deadline coming up, things get to be even more hectic due to the holiday period. Thus, when it comes to self-assessment tax return services, it is no surprise that more and more accountants are turning to outsourced services to make things easier during the tax return deadline period. At times, clients also do not have all the correct paperwork handy or are not good communicators, which further adds to the delays. After all, the responsibility to file on time does rest on the accountant’s shoulders alone with their client’s respect and trust. These are integral factors for any accountant’s success as without this, how will they get their word-of-mouth reviews which are more successful brand endorsers than any other form of advertising.
However, the main thing to note here is that outsourcing is not some magic wand that can be waved at the last moment. Those people are accountants too and they need time to work at things so that deadlines can be met. Thus, to get the best out of outsourcing, be it for self-assessment tax return filing, payroll or VAT services, what an accountant needs is a good game plan. Outsourcing means an investment of your money, and it is only fair that you get the best deal - that is out there.
The earlier, the better:
Get a look at what the present situation is and how knee-deep in work your current staff actually are. Do not think of how much work can be done at maximum capacity. Planning at even 75% of that would be more realistic as people aren’t robots. Once you know how much work you have, you can approach an outsourcing partner. After all, just hiring and training staff during the peak period makes no sense as then, you do need to retain them. Re-training and recruitment are strenuous as well as costly affairs. Instead, if you already have an outsourcing partner trained in the way things work, you are free to use their services whenever need be. There is no promise involved here of a specific amount of work. Plus, unlike a permanent employee, you won’t be worried about ‘finding’ them work for the non-peak time.
Also, since most outsourcing firms have dedicated staff, they are easier to train in the process as they already know the ropes. Furthermore, they would be accountable to you for their work and the same quality at a much higher level than a mere employee would be.
Keep the communication open:
Outsourcing can be a one-stop solution but that does not mean that work isn’t involved. Communication at the initial stage is crucial because you are new to your outsourcing partner and vice-versa. Therefore, having the channels of communication open will help to clear out what work you need, how it is to be done, who to approach if there are any queries and such like. In the beginning, your outsourcing partner might have some questions, but as time goes by, you will find that things are running much more smoothly as how things should be when you have an extra head and pair of hands there to help you. If you are clear with your communication and keep things simple, outsourcing can actually be a cost saver as well as a time saver for you.
Plan ahead and prioritise:
To maximise and really reap the benefits of outsourcing, it is good to prioritise things beforehand. So that what is really required is taken care of first. Through this, you can ensure that your firm is always on top of deadlines and your integral staff are not overburdened. If there are too many things to do, you can shuttle some tasks off to your outsourcing partner, for example, follow-up work, document checking and the like.
Thus, when you think to outsource self-assessment tax returns, make sure you choose an outsourcing partner who has the necessary experience, expertise and dedicated staff so that the whole process runs as smoothly as it is meant to be. There can be a few teething troubles initially, but these shouldn’t be too worrying once reporting and communication structures are sorted out. In fact, through video calling, you can have the whole face-to-face chat experience if you feel relying on things initially over the telephone or email won’t do the trick. So, with the self-assessment deadline around the corner, keep calm and carry on with outsourcing! We at Doshi Outsourcing, are always ready to help you, and you can email or call us any time to discuss.