It would be interesting to poll practitioners offering tax advice to see if they have booked holidays in February. Links in nicely with half-term, and would provide a much-needed break after the traumas of supporting clients with their self-assessment filing obligations for 2016-17.
Unfortunately, as we have posted previously on this blog, there are other deadlines following; the need to be compliant with the new GDPR on or before 25 May 2018, the most pressing issue.
Changes to regulations and practice seem to be gathering pace, all, we are advised, in the name of progress and efficiency.
Those of us close to retirement may be feeling that enough is enough, and be looking for an exit plan for 2018. Others may see the changes to GDPR and MTD with an eye to the opportunities they open-up for new areas of advice. One thing is certain, there is a remorselessness to the coming changes.
At least we know, in advance this year, the tax changes for 2018-19, so the usual rush to communicate the budget announcement in the last two weeks of March are absent this year. However, we still need to “do the rounds” and ensure that clients who will benefit from it, have received a pre-tax year end planning session for 2017-18.
As we reflect on the accomplishment of yet another tax return filing season, and a bumper billing month for January, we should make the most our half-term breaks next month, and be ready to hit the ground running when we return, whatever our in or out strategies are for 2018-19.