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Now that we are into a new year there can only be one thing on every tax practice’s agenda for 2025: should we enter the Tolley’s Taxation Awards? OK, perhaps I have a slightly distorted view of priorities, especially in the weeks leading up to the tax return deadline, but there is no doubt that the awards are now an integral part of the tax calendar. In their third decade they continue to go from strength.
Firms quite often ask me why they should go to all the time and trouble to submit an entry. They recognised that in a competitive field preparing it is not a five-minute job and that to stand out from the crowd an entry will require input from many members of the team and take time to put together. But the fact that the number of entries over the last few years have been at a record level suggests that firms do see real value in being on the shortlist or, even better, winning. But how tangible is that value?
I think that this depends on the size of the firm. For smaller firms the winning of an award brings real kudos in their local market place. We’ve seen many examples of firms generating significantly publicity out of winning and it has really made a difference to their standing in their chosen market.
For larger firms the picture is perhaps more nuanced. There is no doubt that with some of the specialist categories being able to say that they are a winner gives them a competitive edge. We do however appreciate that large firms already have very sophisticated marketing and PR operations and will be award winners many times over. So realistically we can’t expect that being a winner at the Taxation awards, however satisfying that might be, will be transformative.
But what we increasingly find is that teams in the larger firms are keen to enter the awards both for the internal kudos that it brings in an environment where each part of the business is always keen to make its voice heard, but especially as a mark of recognition which can be shared with the team. The awards are, after all, team awards, and I know from many conversations with winners just how much it has meant to the members of a team that their work has been recognised. If you have never been to the awards you might not believe just how excited people become when they are called up on stage. We always encourage the entire team to come up, not just the ‘boss’. Yes, sometimes it creates chaos on the stage with everybody jostling for position and making sure that they get into pole position for the photographs, but I wouldn’t have it any other way. If you don’t believe me have a look at the photo gallery from last year 2024 Gallery or imagine yourself saying something like some our winners did last year:
- This is a really big deal. This is quite a new tax team. We’ve built the team from scratch. It has been a lot of hard work. It is going to drive us on to bigger and better things.
- You know what – this is about us. It’s a night out of celebration for the team.
- I put this award down to the team and all their hard work. They’re brilliant!
So, if you are still deciding whether to enter, or you have never entered before, do think about the effect that being shortlisted or winning will have on your team. It could do wonders for morale. Showing your team that their efforts have not gone unnoticed and that their achievements have been externally validated has a value beyond almost anything else that you can do for them in 2025.
The awards are being held on 8 May at the Park Lane Hilton. Closing date for entries is 21 February. Full details are at Home.
I look forward to seeing you, and your teams, there.
Andrew Hubbard
Editor in chief
