If you are a UK Accounting Practice looking to improve the way you manage the extreme peaks of work when helping your clients with their personal tax situation, and preparing their annual Self-Assessment Tax Returns (‘SATRs’), you should consider outsourcing to a supplier such as Initor Global.
Initor Global has been providing personal tax services to Accounting Practices across the UK since 2006. Our customers rely on us to provide fully compliant services. We have detailed knowledge of UK tax, professional accounting standards and frameworks, and data protection requirements.
We have been listening to feedback from our customers on the reasons why outsourcing personal tax services, including the preparation of SATRs, is right for them. Here are the top seven reasons.
Reason 1: Professional services provide a better client experience
UK Accounting Practices recognise that it can be difficult to prepare their clients’ to meet HMRC’s deadlines for submitting an SATR each year. By nature, clients will want to put off submitting information to HMRC which results in a tax liability, and will want to delay paying HMRC any tax due until the last possible moment on 31 January each year.
In addition, many clients are simply not interested in the detailed work accountants need to complete to ensure the SATR is prepared accurately and on time. Practices outsourcing the SATR preparation process find they have more time to spend with their clients discussing their personal tax situation and engaging them in the process, with the opportunity to upsell high value advisory services.
With an outsourced solution, Practices will have access to a team of tax specialists who will provide assurance SATRs are prepared accurately and on time, and that experts are available to provide any other services commissioned, such as the preparation of sole trader accounts or amendments to prior year SATR submissions.
Reason 2: Reduced costs and increased quality
The cost of outsourcing tax and accounting services is typically 50% less when compared to the equivalent services provided in-house. The outsourced partner will usually price their services based on the complexity of an SATR. With an outsourced solution, there is no need to maintain a large in-house team of tax specialists. When implementing an outsourced solution, UK Accounting Practices often find the review of internal systems and processes needed secures wider efficiencies, such as the automation of tasks and more effective document management.
With an outsourced partner focused on delivering the tasks and processes an Accounting Practice needs, the quality and accuracy of SATRs is improved, with an increase in the quality of services to clients.
Reason 3: Clients can access more services
Using an outsourced solution allows an Accounting Practice to scale up and confidently offer personal tax and advisory services to meet clients’ needs. It also ensures a Practice has the capacity to deliver growth in revenues, and that clients have access to all of the services they need as their personal tax situation changes.
Reason 4: Reduced risk of service failure
Many UK Accounting Practices rely on a small team of accountants working tirelessly throughout peak periods to achieve HMRC’s deadlines for filing SATRs. Reliance on a small number of experienced tax specialists presents a high risk of service failure should individuals leave a Practice at short notice, and if you cannot access a suitably qualified or experienced replacement in time. With an outsourced solution, an Accounting Practice has access to a large team of experienced personal tax specialists who can provide the continuity of service needed.
Reason 5: Data Protection assured
Most outsource partners will have experience of all major cloud based bookkeeping, tax and accounting software, which can be accessed from their own secure servers. They can also access your Practice server using secure remote login arrangements. Outsource partners can provide evidence they are GDPR and ISO 27001 compliant, and that client data is always secure and cannot be downloaded.
Reason 6: Removing recurring tasks helps develop people
Some UK Accounting Practices are nervous about outsourcing any service because of the perceived negative reaction among their people. However, the removal of deadline driven tasks from the day to day workload of accountants means they have more time to spend understanding the needs of clients and upselling services. Less time is spent on tasks such as contacting clients for missing information and data management, allowing individuals to focus on their continuing professional development and building the skills needed for the future growth of an Accounting Practice.
Reason 7: Keeping ahead of regulatory changes
The government is continuing with its plans to implement Making Tax Digital for Income Tax Self-Assessment. While the implementation date is delayed to April 2026, many accountants are reviewing the way they contact clients and collect information in advance of the statutory deadline. Working with an outsourcing partner can help build the capacity your Practice needs to spend more time with clients and prepare them for any regulatory changes.
Main features of Initor Global personal tax services
Our team of qualified tax specialists and accountants provide the SATR preparation services your clients need, with our rates typically 50% less than the equivalent service in the UK. All services are delivered to the highest professional and quality standards your Practice expects.
Many of our accountants and tax specialists trained and worked for Practices in the UK.
We price our SATR preparation services based on the complexity of the work involved, from simple SATRs involving salary and dividends, through to the most complex where specialist tax advice, such as capital gains or foreign income, may be needed. Our service includes the preparation of Form SA100 for individuals, Form SA800 for partnerships and Form SA303 to reduce payments on account.
Our services are completely flexible and can be scaled to meet your Practice growth plans or peaks of work.
If you are looking to take your Accounting Practice to the next level, and provide effective personal tax services while reducing costs, you can arrange a free consultation with our expert team.
We offer a free, no-obligation trial of our personal tax services.
Please contact us on [email protected] or visit our website at initor-global.co.uk.
You can also call us on 0203 519 2121.
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