Six honest serving men on Budget Day
Imagine families huddled around a black and white TV,
eager to know how budget changes made by the then chancellor would affect them in the coming year. A shilling on the cost of petrol, 1d on a pint of beer, 2d on a pack of woodbine….ahhhh the good old days!
Times change, we are no longer restricted to 3 TV channels and an odd penny here or there would seem to make little or no difference to the essentials of life. In addition, budget proposals are often set to commence one or two tax years in the future and are frequently camouflaged by a whole raft of other back slapping messages for the benefit of the media.
Nothing to pique clients' interest
You would be forgiven in thinking that there will be little or nothing in any budget to pique the interest of your clients.
But wait, look at the effects of one or two changes from budgets in recent years: the introduction of the Residence Nil Rate Band, the changes to Loan Interest Relief for Landlords, the introduction of the Dividend Allowance. In just these few announcement, probably the majority of your client base were affected in one way or another. If tax professionals are slow to take the message of change to clients, would there be time to review remuneration strategies, rethink bequests, reorganise borrowing?
How does the advisor bring these changes to the client in an understandable, impact driven manner, without investing hours of team time and effort?
Can Rudyard Kipling help?
That’s where the Rudyard Kipling’s poem can help “I keep six honest serving men (they taught me all I knew), their names are what and why and when and where and how and who”.
The team at ProActivTax have used the Rudyard Kipling poem to develop a process to identify all Budget impacts.
We show you how to identify: who, how, and when.
Where, that’s easy, the budget effects your clients directly in their pocket. Plus, for your own learning, our supporting Helpsheet will set you apart as the expert on: what and why.
Find out more by watching the Budget System video https://bit.ly/2QXxuy4, or ProActivTax members, make certain you download the Budget System from the ProActivTax website and use your Personalised Budget Newsletter to highlight the changes which affect YOUR clients!
ProActivTax help accountants around the UK develop the tax services offered to their existing client base, build their tax profile, win new clients and be more successful.
We bring together tax specialists from a broad specialism base. We deliver technical briefings, CPD webinars and live seminars which assist our members and their teams to not only enhance their tax knowledge but also learn how to spot, market, price and deliver their tax saving services. And we develop our own tax resources to support accountants in demonstrating the value of this knowledge.
If you would like to find out more about how ProActivTax could help your practice, please click https://10to8.com/book/pcmyhk-free/263653/ to access my online diary or simply drop me an email with some provisional dates for an online chat.