I am yet to experience a greater gift in life than heavy music - it's my longest and truest love. People see me as a naturally creative individual, which is hugely beneficial to my career. My theory is that there's either something missing OR something highlighted in my perception.
Each month at Diagnostax we have a social event, whether it be themed parties or a movie, the whole office stops for the afternoon and spends time together catching up and enjoying snacks. This month, in honour of its 25 th anniversary, we watched Jurassic Park!! Trekking away!
This month we have been making the most of the sun out on our balcony! When the sun come out so do we. Last year we renovated the space and it's now the hub of the office summer! Whether it be for a quick meeting, lunch or simply to catch those rays on a break, it's our little piece of paradise.
This month at Diagnostax we embraced learning at work week with new weekly yoga sessions. We also had a fabulous royal wedding with a tea party and made the most of the sun on our balcony. A certain Director may also have failed the fire drill, tut, tut Gwilym.
Check out the latest edition of Taxation Magazine, featuring an article written by our very own Adam Owens CTA, Director at Diagnostax. Change and Challenges Following our in depth discussion with hundreds of tax professionals, we're able to shed light on the role of the modern tax advisor like never before.
How the bloody hell did I end up working in tax, eh? That's probably a question every tax advisor has asked themselves after a hard day's slog chasing clients, rifling through spreadsheets and trying to explain what it is they actually do to colleagues for the 1000th time. But it's a pertinent question given the lack of tax advisors in the UK. One that I thought I'd investigate further. I went out and spoke with as many industry professionals as possible. As I had such an overwhelming response, I haven't been able to include everyone, but it means there might be a part two! So, what follows is a diverse array of stories; some hilarious, some surprising, and some just downright weird. One guy, who wished to remain anonymous, got into tax just because he fancied a girl who worked in the industry. Seriously. The one constant in all the tales is that the people I spoke to never knew they wanted a career in tax. In fact, most of them didn't even know it existed. Let's take Sarah
Depending on who you are, where you work and what exactly your role is, the enigmatic tax title - The Taxologist- could mean something very different to you. Like a mixologist mixing cocktails, a taxologist blends accountancy and tech to make the mojito of the tax industry. They then drink that mojito and make up stupid job titles. Only kidding. The reality is, for most of you, it probably doesn't mean a thing. However, what if we told you, your tax technology strategy will fail without one. What tax technology strategy? I hear you say. If you are adopting tax technology software for your firm: (1) you need a strategy, and (2) you need to read this. As providers of tax diagnostic software, when we first heard the term Taxologist, we were very excited! Did we know what it meant? No, but it sounded impressive and exactly who we needed to be speaking to. In fact, I'm pretty sure our marketing team thought they had invented it at one point. Turns out, Thomson
I had the opportunity to speak with Geoff Peck, Taxologist at PawPaw Taxology; specialists in the harmonization of tax technology. Geoff is a thought leader in challenging perceptions in the arena of global tax solutions and he really knows his stuff. Over the last 12 months I've heard the term Taxologist used in a number of ways, but when I met Geoff I found something in PawPaw Taxology that really made sense. In this video interview, Geoff and I will explore what exactly a Taxologist is and why it is a critical role for tax functions tackling the myriad of tax software today. Alternatively, you can watch shorter segments of the interview below: Understanding the Taxologist (9 mins) Education and the Taxologist (4 mins) Tax Function and the Taxologist (2 mins) You might also find it useful to take a look at PawPaw Technology's Activity flow for success.
Every day, I ask people in our business and our clients (accountants and tax advisers) to move out of their comfort zone, break the status quo and try something new, to do a Diagnostax. Well, for all those people who I've asked to move out of their comfort zone and break through the fear of failure/fear of embarrassment barrier, here is my own very personal, certainly comical, and very, very, embarrassing work story: One of the biggest lessons in my career came early on. I'd just joined the business. It was a business development role, and I was told that I'd be shadowing the managing director, out on the road. Now, this was a guy who was incredibly charismatic. Someone who I looked up to, not only for his sales skills but for the way he was able to make people feel; the relationships that he was able to build. I wanted to learn as much as I could from him. If I'm honest, I was nervous around him. Perhaps it was because I was so eager to impress. One of our first outings
Whether you're just starting out or taking the next steps to expand your business, I found 8 key lessons for businesses to succeed despite previous mistakes. So you can learn from the experiences and insights from other successful entrepreneurs and businesses in different industry sectors.
It's CTA results day. And whether you've won a medal, achieved the perfect mark (of 51%), or just missed out on a pass, you can all be proud of your achievements. Just getting this far takes grit. It's easy to feel like a great exam result means a better advisor. But I'm here to tell you: there's way more to it than that. Some of the best tax advisors I know didn't pass every exam first time around. And I should know – I failed an exam too! The fact is, pass or fail, studying for the CTA exams is damn hard. And anyone who tells you it isn't is either a genius, or they are fibbing to make themselves look good. No matter how smart you may be, finding the time to engage with ALL THAT material, while holding down a profession, is challenging. CTA students familiarise themselves with thousands of pages of course notes and questions, and many thousands more of legislation. The skills needed qualify as a CTA member are honed over tens of thousands of hours per module. It's a
It's alarming how many clients think that the submission of their tax return is equivalent to a thorough review of tax reliefs and planning opportunities. And the truth is: that's a problem. For the tax profession. Why? Well, for one, it's damn near impossible to command a fee for a service someone already thinks they are receiving. Or one they don't even know exists. If we want clients to truly understand – and appreciate – the value the tax profession can bring, we need greater awareness of the distinction between compliance, advisory and planning. Slice & Dice Categorising the roles of the tax profession can be surprisingly tricky, but I find the following most useful: Tax Compliance: Tax compliance involves looking at transactions and ensuring that the position is correctly calculated, documented and disclosed to HMRC. And – most importantly – all taxes paid on time. In concept, though not always in practice, compliance will often involve little if any
At the recent Accountex North summit, Adam Owens – our technical director and all-round tax geek - had the opportunity to grab a few words with Andrew Hubbard on the future of tax. As a former CIOT President, with a long and varied career, Andrew has seen it all when it comes to the many changes the profession has faced over the years, and remains at the cutting edge of the profession. They naturally found themselves discussing these changes – both historic and future. So Andrew, for the few readers that may not be aware of you, tell us a little about your background and career. After studying music at university, I joined the Inland Revenue as an Inspector of Taxes in Nottingham in the mid 1980s. I knew nothing about tax then – indeed I don't think I had ever paid tax up to that point! – but the training I had in the Revenue was superb and it gave me a strong grounding in the fundamentals of the tax system which has been invaluable throughout my career. I left the revenue to join