Beat the Rush of this UK Tax Season with SandMartin
Nov 19, 2020
Tax return season in UK is mostly the nerve-racking one for the Accounting firms. This year has added additional havoc with the extension of nationwide lockdown and economic hardships due to COVID-19. To beat the Rush of this UK Tax Season, accounting firms need to revisit their business plans to be ahead of the rush in good time while keeping their financial wheels turning.
Accounting Practices in UK have never been busier, so how can they fit in the extra work in the period upto 31st January? Outsourcing the seasonal workload to Offshore Outsourcing firms like SandMartin can enable a helping hand for UK accounting firms to complete the filing process within deadline.
Remote Working Alternative- Virtual Offshore Office
As the pace of coronavirus increased, most of the businesses had to shift their work to remote working models. Due to the lack of experience in working remotely, WFH model has impacted practices significantly even after working at their full capacities. In order to adapt the new normal in this ever changing environment, Accounting firms are partnering with the experts of Remote working. In other words, they are outsourcing their accounting & tax seasonal work to Offshore Outsourcing firms while delivering better value proposition to their clients.
Further, Outsourcing has been a proven cost-friendly business plan to ensure financial stability in the long term. Since it’s clear that COVID is here to stay a bit longer than we thought it would. Accounting firms should place financial liquidity & profitability their utmost priority. As a matter of fact, SandMartin’s cost-effective outsourcing solutions has saved over 40% to 50% of their actual staffing costs while ensuring streamlined processes & quality tax returns.
There are various external factors as well such as complex tax policies and ever growing risks, making this tax season the most challenging ever. Here are some of the key legislative changes to roll your eyes over:
- The budget announced that business rates would temporarily be “scrapped” for certain business premises with a rateable value of less than £51,000.
- Businesses in receipt of small business rate relief (SBRR) or rural rate relief will be entitled to a £10,000 local authority small business grant.
- A new wage subsidy scheme, the Job Support Scheme (JSS), will replace the JRS when it ends in December 2020
- HMRC have confirmed 30 November 2020 as the deadline for submitting or amending JRS claims.
- The government is extending the CJRS to support individuals and businesses who are impacted by disruption caused by coronavirus (COVID-19) this winter. The CJRS (also known as the furlough scheme) will remain open until 31 March 2021.
To know more about the recent changes in the policies, visit HMRC .
SandMartin Outsourcing Solutions
As a leading Accounts, Tax & Payroll outsourcing services provider to UK Accounting firms, SandMartin- An ACCA approved Employer has already been helping numerous accountancy practices with their tax filing workload in order to support them in the rush of this Tax season. SandMartin’s ACCA qualified accountants are accustomed to remote working and are providing unsurpassed taxation services to UK accountants already.
SandMartin’s robust and efficient teamstreamlines tax filing process with finished quality files, allowing accounting firms to focus on clients’ demands and smoothly navigating Covid-19 implications. SandMartin’s professional staff meets all HMRC requirements, well versed in all the leading Accounting & Tax software.
We have so many success stories to tell. For now, head to the below video to learn how you can sail through the busiest and most challenging tax season!!
Contact us for the busiest Tax Season
To learn more about our range of Accounting & Tax services and to register for the free trial, please feel free to email us at firstname.lastname@example.org or you can also fill out the Contact Form. Our team members will be happy to meet you to discuss solutions for your unique requirements.