Beat Self Assessment stress
Stress is a common workplace issue, but no industry feels the pressure more during the immediate New Year than deadline-suffering accountants rushing to file last minute tax returns.
Recognising the effect of stress on the profession, CABA, the Chartered Accountants' Benevolent Association (CABA) target new accountancy graduates during National Stress Awareness Day in October, using workshops to educate young trainees how to combat future stress. More recently, CABA trainer Rosie Gray provided a video on managing your stress effectively.
Earlier this month, AccountingWEB members debated the January stress caused by last-minute clients in a recent Any Answers post and came up with their own suggestions for keeping their cool.
Member ShirleyM refuses to allow clients rush her or undergo intensive stress for the sake of helping clients avoid late penalties. Combat this by self-imposing your own deadlines to ensure only a small number of clients still submit returns in January is a sure method of managing both clients and stress, said Jason Dormer.
For those of you like member MBK that rise to the challenge of work-heavy weekends, AccountingWEB member and stress management trainer wingco44 posted a few quick stress-busting tips.
Eating the right foods rather than bingeing on sugary snacks, coffee and booze. The occasional alcoholic relief may help you in the short-term but will leave you feeling sluggish. Treat yourself occasionally to something nice but eat plenty fruit and veg to keep your brain ticking over.
Talk to someone about your worries and concerns if you’re feeling particularly anxious. It doesn’t necessarily need to be someone in the workplace but learn to let off steam to a member of your family or a friend.
Better communication between both clients and employees and within the office itself can also help reduce stress whilst working long hours.
Our American counterparts have had longer to attune to their April busy season than UK accountants, so it's worth taking a few pointers from them. Back in 2000, AccountingWEB.com coordinated a discussion group to share ideas on managing anxieties through the busy season and much of their advice still holds true today.
For more information on this topic, visit AccoutingWEB.co.uk’s stress management page or consult the following articles.
Top tips for managing stress
AccountingWEB’s guide to health and fitness
CABA’s top tips for stress management
Useful resources
Advisory, Conciliation and Arbitration Service (ACAS)
Chartered Institute of Personnel and Development (CIPD)
Stress Management Society
What techniques do you use to cope with the busy Self Assessment season? If an employer, what methods do you use to keep your team motivated and happy throughout the hectic period?
Continued...
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Everyrhing goes according
to plan until a penalty notice arrives dated 3rd January 2012 stating that because clients' tax return for year ended 5th April 2011 has not been sent on time there is a £100 penalty payable in accordance with paragraph 3 of schedule 55 to the finance Act 2009. So we now have to appeal etc. etc. Perhaps DH is trying to build up a leaving fund.
Last 3 out of 160
"Learn to say no – clients submitting late payments will continue doing so until they are told no."
Prevention is better than cure. I had 7 to do as of 1 jan 2012, 3 to go now and just minor points to check with the clients oncerned. So in essence job done as I can always file those 3 and then file amendments in Feb once the info. comes in.
Step 1
On 15 October, write to all clients who have yet to file - 31 at that stage. Tell them that if the info. is not with you by 15 November, they will get a 20% fee increase for the 10-11 return and accounts.
Step 2
On 16 November, write to all clients yet to file - 9 at that stage. Tell them their new fee with the 20% added. Then tell them that if the info. is not with you by 26 December, the 20% increase will rise to 50% and the fee will be payable in full up front.
Only 3 clients got the letter saying they had a 50% increase. Of the 7 left at the start of Jan, 4 had brought their info. just before Christmas.
I don't understand why all my local competitors are working 14 hour days right now because I live in a holiday area and this is a great time for getting new clients as hotels are quiet, last January was a great business development month and this one is not quite as good but above average.
By getting high at the weekend during the January rush
...by that I mean flying my own plane.
There's a great forecast for this weekend, after seeing clients up to 9pm this week I'm looking forward to it :)
I've planned a battery 2 thanks
I've planned a battery recharge week for the middle of January to get me through - albeit surrounded by work. Monday I'm having an hour of Reiki; Tuesday I'm going to my aqua calss and out to dinner; Wednesday I'm having my hair done and going to Pilates and Thursday I've booked a facial and lava stone massage - if that doesn't get me through to the end of the month, nothing will. Happy accounting one and all.