Practice tip: January struggles

It’s over 25 years since the first 31 January deadline in 1998 and yet many accountants still dread the January rush to complete tax returns.

A LinkedIn poll I ran revealed that a third of accountants had either none or just a few tax returns left to complete in the late summer. However a significant proportion of respondents admitted to having the majority of their tax returns outstanding.

Every year I find more accountants have managed to eliminate the January scramble by setting earlier deadlines for clients and sticking to them.

The reality is that if you struggle during January it could be because you are allowing clients to take advantage of your goodwill causing you stress and potentially compromising the quality of your service.

If you are prepared to stand firm you can avoid this.

Take control

That means setting clear expectations and making clear...