7 steps to Self-Assessment season with practical facts and figures
We love a good statistic here at BTCSoftware, so this time we’re taking a look at how the facts and figures can inform your next 7 steps to Self-Assessment season. From planning your time around the mid-week peak to how to use the stats to find better productivity, read on for a numbers-filled guide to an easier busy season!
64 – 20 years of internet filing
HMRC introduced the Self-Assessment internet filing service on 3rd July 2000 and 38,000 individuals filed online by 31st January 2001.
While Self-Assessment online filing launched successfully, there were plenty of things that didn’t happen that year:
- The world didn’t end with the Y2K ‘Millennium Bug’
- The Millennium Bridge closed after three days for repairs
- A gang failed to steal the Millennium Star diamond
- The all-star England Euros team didn’t make it past the group stage
65 - 10% don’t know how to charge for MTD for ITSA…
A recent poll of BTCSoftware customers revealed that most accountants will be looking to increase their annual fees in response to the time spend associated with MTD for ITSA.
But with 10% unsure of how to approach the difficult question of how to charge, we asked our CFO Ian Katté for his thoughts on the challenge ahead. He said:
There’s no question that accountants must charge their clients for the additional cost of their time and software associated with MTD for ITSA, but from experience, I know that practices are anticipating push back on the charges. I would approach this from an educational viewpoint; don’t negotiate your costs, but stand firm on justifying why your expert guidance is worth the money!
66 – but 10 hours says they should!
HMRC’s updated MTD for ITSA costs and benefits policy paper estimates that taking a client from paper recordkeeping to software will require 10 hours of agent help.
Whether that number seems high or low to you, one things for sure – that time has a value!
67 – Save 10 minutes per return
Any minute saved during busy season is a blessing, so imagine how the pressure would lift through saving 10 minutes per return.
Soon you will be able to achieve just that, thanks to our partnership with Pixie.
Take a look at how it works!
68 – The mid-week peak
Over the last three Januarys, Google searches for “HMRC help” have consistently peaked on Tuesdays and Wednesdays, even when the filing deadline falls on a different day.
And while the last week of the month is the busiest, it’s worth noting these trends to plan accordingly. By looking at your own historical information, you can create a structure that allows you to allocate time for non-tax work outside of those peaks.
69 – Start from £175
An easier January doesn’t need to break the bank – BTCSoftware’s ITR module starts at £175 with PM Core included for client management.
Long-term customer Sue Moore describes our software as having “the kind of facilities I associate with top 20 firms at a price point affordable by smaller practices,” which is high praise indeed.
We’d love to show you what she’s talking about. Get started here.
70 – Reengage the 71%
Research from Rypple suggests that 71% of the workforce describe themselves as disengaged or not engaged at work.
Engagement in the workplace directly influences your team’s motivation to stay with your business (66% would stay with a company for better engagement per Market Tools) and perform better (engaged employees are 43% more productive per Hays Group)
Get ahead of disengagement with clearly defined expectations, opportunities for growth, regular feedback and by nurturing office culture.
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