With UK tax currently in the midst of political and technological upheaval rarely seen in modern times, it takes a brave firm to differ from the status quo and develop new niches, practices or tools.
This year’s National Tax Practice judges were looking for firms providing tax advice that delivers clear measurable benefits but also go further to seek out cutting-edge solutions for the modern client. Here are a few of the trends the judges picked out from this year’s entries:
The trends
Balancing breadth with niche
Whilst having a breadth of tax knowledge is often seen as a prerequisite for success, it should not be at the expense of developing specialised areas. This year the judges were particularly impressed with entrants’ approach to niche tax advice, showing that even within a general department there is quality work to be had by acting as a magnet around key areas such as R&D.
Awards judge Rebecca Cave noted: “In the wider arena we can see more firms starting to develop niche areas, and this is essential in the current market”.
The digital agenda is still on the table
Given the impact that the MTD proposals have had recently, it was no surprise that the discussions around efficiency and automation persist. Within the profession, many are choosing to continue to plan for a more digital future in the belief that although delayed it is certainly not dead in the water.
Our judges observed that will be interesting to see how this continues into next year's submissions, or whether firms will delay tackling some of the thornier client issues around client data record keeping until absolutely necessary.
They were also impressed by the extent of thinking around MTD, and by the awareness of the impact on clients, as well as on them and their own cost base. Citing them as ‘ahead of the game’ for any future introduction of digitalised tax.
Shortlisted firms
The Buckinghamshire-based firm impressed the judges by demonstrating real expertise that delivered results for clients and in showing that tax was not a siloed department but a resource and insight that permeated the whole firm.
Hailing from the south west, Milsted Langdon was singled out by the judges for showing a clear commitment to educate and empower clients through specialist communication and seminars, backed up through an impressive drive to increase tax knowledge amongst staff in all areas.
Ad Valorem Accountancy Services Ltd
The southeast-based firm impressed the judges by constantly developing their tax practice, showing innovation that there was no real demonstration that firms were relying on purely routine compliance work.
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Contributions from the AccountingWEB.co.uk editorial team.