Outsourcing has reached new frontiers, thanks to technology making the communication and data storage and transfer process even trouble-free. Tax returns are time-consuming, and with the deadline coming up, things get to be even more hectic due to the holiday period. Thus, when it comes to self-assessment tax return services, it is no surprise that more and more accountants are turning to outsource services to make things easier during the tax return deadline period. At times, clients also do not have all the correct paperwork handy or are not that communicative, which further adds to the delays. After all, the responsibility to file on time does rest on the accountant’s shoulders along with their client’s respect and trust. These are integral factors for any accountant’s success as without this, how will they get better reviews which are more successful brand endorsers than any other form of advertising.

But, the most important thing to remember is that outsourcing isn’t something that can be used at any moment. They are accountants as well and require time to do their work to ensure deadlines are achieved. So, to reap the most benefits of outsourcing, whether in the form of  self-assessment tax returns filing, payroll or VAT services, all accountants require is a well-planned strategy. Outsourcing is a way to invest your money. So it’s only fair you receive the most competitive price for the money you pay.

The earlier the better

Take a look at the current situation and see how sunk into work your staff members are.  You should not be thinking about the quantity of work that could be completed in the maximum capacity. A goal of 75% is more realistic, since human beings aren’t robots. Once you’ve figured out the amount of work, what you’ll need to do then is to seek out a good outsourcing partner. In the end, recruiting and training employees in the peak busy period is not a good idea.

Re-training and recruitment can be difficult and costly. In contrast, if you have an outsourcing partner who is trained on the method of working – You are free to make use of their services as is necessary.  And, unlike a regular employee, you will not have to worry about finding their work during the off-peak hours.

Additionally, a good outsourcing services provider such as Fin-eX will have a dedicated trained staff for each task, such as in this case, processing tax returns and filing them. The more volume you outsource the better and efficient the process is. The basic tax returns will not require much time and can have a fixed pricing model. For more complicated tax filings, Fin-eX is equipped with senior accountants that know about the regulations and changes.

Since Fin-eX processed over 7,500 tax returns last year, we are very familiar with the process and can bring high quality and efficiency in it.

(free trial today logo)

Make sure that the communications are open

Outsourcing may be a one-stop solution, but that doesn’t mean that there is no work involved. Communication during the initial phase is vital since you’re new to the outsourcing company and vice versa. So, having channels open for communication will aid in determining what task you’ll need to complete and how it will be accomplished and whom to contact for any questions or concerns.

At first your outsourcing partner may have a few questions, but as time goes by, you’ll notice that things are running more efficiently. If you’re clear in your communications and are able to keep things simple. Outsourcing can help you save money, bring efficiency to the process and improve your margins per client.

Plan ahead and priorities

To benefit from outsourcing, it’s best to prioritize tasks prior to the start of each year in order to ensure that what’s essential is dealt with first. This way, you will make sure that your company remains on top of its deadlines and that your personnel aren’t overwhelmed. If there are too many things to do, you can shift some tasks off to your outsourcing partner. For example, admin work, follow-up work, checklists, requesting incomplete data etc.

Why Fin-eX as an accounting outsourcing Partner

If you are thinking of outsource tax self-assessment returns ensure that you select an outsourcing provider with the right know-how, expertise, and dedicated staff to ensure that the whole process goes in the way it’s intended to. With the self-assessment busy season just starting and the January deadline nearing, it is always good to stay ahead of the curve and competition. This will not only help you in the busy period, but your clients will appreciate it and they will get the quality of getting their tax returns filed early.

Fin-eX Outsourcing is always here to assist you. We can be reached via email or phone anytime to discuss your options.