We’re sure that you’re all aware that December’s festive season is followed by the Accountants’ favourite time of year – January’s Self-Assessment season! So to help you, we have put together a few hints and tips to help you along the way.

Tip 1 – Be organised, so you can enjoy the holiday season

With every little, or big, self-assessment return you face, you need to be organised, so this means helping your clients get organised too. See if you are able to offer a generic template about what you need to your clients beforehand; this should help clear your road to an easier Self-Assessment season.

Make a list of your tasks and things you will need to accomplish a successful Self Assessment submission to HMRC, such as: 

  • Getting your clients prepared and giving them a check list of documents you will need from them.
  • Making sure you and your practice have the right tools to automate your tasks, ie: software, mobile apps for instant document sharing and signing, cloud storage space, etc.

Once you have found the right preparation tactics that work for your practice, make a ‘template’ of it so you can always start preparing for the next year.

Tip 2 – Take breaks: Slow and steady won the race 

The work will still be there when you get back! So why rush? Aim to start planning and getting organised instead. The more organised you are, the more you can manage your time; and time is valuable. 

Manage your time by scheduling tasks ahead of time and monitoring progress; make it a routine. And this, it will be easier for you to see where you could book your time off to do the things you love, feeling as cool as a cucumber.

Tip 3 – Learn from the lessons of your previous years

Learn from your Practice mistakes from last year – Look at what could be improved from your previous experience and identify ways that you can improve your tasks: For example,  did you give yourself enough time for a particular return? Ensure that you manage your time so that you have everything that you need when the time comes to submit your returns. 

Tip 4 – Lead the way 

Technology can always make your life easier – if you use it to your advantage! 

By being smart about your software and understanding what your practice needs, you can ease the pressure in January and have a more efficient and easy-flowing Self-Assessment season.

Tip 5 – Plan ahead

When the self-assessment season is over, start planning for the following year. Ask yourself questions like: What will you need for the following year? What areas have I discovered that I will need to improve? How can I get my clients more prepared ahead of time?Is your current software provider working for your practice and is shortlisted for MTD for ITSA? 

The introduction of the MTD ITSA initiative is likely to create more work for accountants as they work to support their clients, so you need to be sure that you, in turn, will be supported by your software provider and that you won’t have to repeat this process in a year or two when you need a compatible Self-Assessment module.

Once it’s over, and you want to start the financial year with something new that works better for you, why not book a demo with Capium and find out more? 

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