My Week: 2018 FOCUS

Business PlanHello folks. It was a freezing week. At least the days are getting noticeably longer. My morning walks to the office and back have not yet reached relaxing time status. That will come once the weather temperature gauge moves to a level that does not make me go BRRRR. 

Even with Q being off My week was so-so. Q is recuperating from minor surgery. She will be back next week.

There was a significant reduction in client emails. I want this continue. The reality is that it will not last.

Wealthy and Mid-sized Business Compliance

I was working on VAT Officer Compliance client visit queries. After an exchange of emails, she was satisfied that VAT returns submitted were in compliance with HMRC requirements.

She has now moved to corporation tax! She has gone back 4 years and added up box 6 of the VAT returns and compared with the sales figure in the final accounts submitted. She wants us to explain the difference between box 6 figures and the sales figure in final accounts. We did not place much importance to box 6.

Q will deal with work on this next week and she let me know.

2018 Focus

As you may know, drafting My Week helps me to sort out my jumbled up thoughts in my head.  On that note, I would like to have a plan on how I would like 2018 to pan out from a practice perspective. 2017 went in the blink of an eye. 2018, I think will go even faster. It is important to have some sort of plan. Here are my thoughts:

February to April 

  • Update Accountancy Manager. Explore ways, how it becomes a better practice engine
  • Update TaxCalc
  • Client base. How much increase by? Everything starts with a clear sales target!
  • Draft a clear Marketing Plan and Strategy. Start Action on the plan!
  • Monthly fee level review. Think of ways it can be improved?
  • Review client list – fee increases? Goodbyes?
  • Review and sort out personal finances
  • Monthly review Accounts Receivables
  • CPD Tax – Revision course. Also, STUDY.
  • Improve/update website
  • GO Proposal? Go for it?

May to July

  • Further improve work environment
  • Review templates. Make them better fit for purpose
  • Clean File Center in particular Practice Management section of FC
  • CPD Tax – exam 
  • Review client list – fee increases? Goodbyes?
  • Sales target?
  • Marketing – think detail/effectiveness. ROI. Improver website
  • Monthly Review Accounts Receivables
  • Produce and file FT accounts
  • Personal Finances

August to October

  • Monthly fee level review. Think of ways it can be improved?
  • Marketing – working. Change approach?
  • Sales target?
  • Helicopter view of the practice. Good/bad.
  • Practice lucrative? More lucrative?
  • Review client list – fee increases? Goodbyes?
  • Personal finances

November to December

  • Buffer for what is not completed above
  • Sales target?
  • Review client list – fee increases? Goodbyes?
  • Monthly Review Accounts Receivables
  • Personal Finances
  • Prepare for the tax returns season!

The above plan may change. I have just drafted it . My brain has not had a chance to process it.

Day to Day 

Please bear in mind in the background they will be the usual day to day client work and headaches. Just one HMRC inspection, as you know, can take up a fair amount of time.

I also have challenging CTA studies. Any spare time I have is taken up in studying. The volume of material in the advisory paper in question is just too much. I have started so I will finish. It helps with my work.

Finally, no software changes this year. It eats up time. The mix we have works well.










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