Practice Excellence: How to be a tax specialist
Gabelle founder and managing partner Paula Tallon will be sharing her business secrets at AccountingWEB's Practice Excellence Conference on 6 November.
A well known speaker on the tax lecture circuit, Paula left the comfort of a partner position with BDO to form Gabelle in 2010.
While she underestimated some of the admin and regulation challenges, Paula has been sustained by the excitement of building up a 20-strong independent tax business from scratch.
To learn from her experiences visit the Practice Excellence Conference website to book your tickets for the £99 all-day event.
For Paula the urge to specialise was triggered by the realisation that there was a gap in the market for the direct advisory service like the one provided in the mid-1990s by Williams Jeffrey Barber, who acted as the “gods of tax” for practitioners like Paula. She tells the story in more detail in her original Tallon on Tax blog post on AccountingWEB.
“Accountants have got a lot to keep on top of: tax; FRS; company secretarial and so on. There’s a lot there. I think the important thing is to recognise the areas where you do need help,” she said at the recent ICPA conference.
“Accountants are getting better at getting second opinions when they need them, but the things you don’t know are the things you don’t know you need help on.”
For example, most general practitioners won’t do tax schemes, but will have clients who are involved with them and may be on the receiving end of the new accelerated payment notices. “Make sure your clients are instructing you to deal with these things. Don’t deal with these for free,” Tallon advised.
“These are quite technical areas; you need to look at whether there’s an open enquiry and whether there’s a valid notice. All these things take time, and they’re high risk, so make sure you’re equipped to deal with them.”
At the Practice Excellence Conference in London on 6 November, Paula will offer more insights into the lessons she has learned over the past four years and pass on practical advice not just on dealing with enquiries and technical tax issues, but also on topics including team motivation, time management and social media.
See the video below for Paula’s predictions on the hot tax topics and tribunal trends for 2015 and visit the Practice Excellence Conference website to book your tickets for the £99 all-day event.