Five productivity-boosting tips for in-house tax teams

5 tips to boost productivity in your in-house tax team:

Being part of an in-house tax team means you're constantly pulled in different directions. From liaising with various departments to diving into compliance tasks that seem to multiply overnight, it's no wonder in-house tax practitioners often feel like jacks of all trades but masters of none.  Here's the thing: all this multitasking can take a toll on productivity. So, how can you help your in-house tax team work smarter, not harder, while still delivering high quality work?

1. Streamline Processes and tax research Workflows

Let's face it, tangled workflows can really obstruct productivity. Start by pinpointing those time-consuming bottlenecks, maybe it's an overload of meetings or an endless hunt for that answer buried in a sea of documents. For in-house tax teams, staying on top of compliance across different jurisdictions can feel like navigating a maze. That's where smart tools come in handy. By leveraging tech solutions to simplify compliance tasks, your team can spend less time on routine work and more on the most challenging and rewarding tasks.

2. Consistent Training and Skill Development

Learning never stops, especially in the rapidly changing world of taxation. Encourage your team to keep their skills sharp by embracing opportunities for continuous growth. Whether it's attending industry conferences, reading the latest tax publications, or absorbing knowledge at seminars, staying in the know is crucial for tax professionals. With each new skill acquired and every fresh insight gained, your team becomes better equipped to take on new challenges and wrap up projects within deadlines.

3. Have Reliable Tools for Decision Making

When it comes to making critical decisions, having the right tools at your fingertips is non-negotiable. In-house practitioners can't be expected to be experts in each tax area, yet they have to quickly understand them. Sometimes, you just need a reliable resource to point you in the right direction. While external advisors are great for specialised knowledge, budget constraints often mean your team has to navigate unfamiliar tax areas. That's where reliable tools come in, ensuring your team can access accurate information quickly and confidently.

4. Prioritise Tasks and Set Clear Goals

Productivity thrives on structure and clarity. Make it a habit to prioritise tasks based on urgency and importance, aligning everyone about what needs to be done and when. Embrace techniques like the Pomodoro method to stay focused and ward off distractions, giving each task 25 minutes of undivided attention before taking a 5-minute break. By setting clear goals and establishing a rhythm that works for your team, you'll create a roadmap to success that leaves plenty of room for last-minute changes.

5. Avoid Multi-Tasking

Multi-tasking, while often seen as a skill, can hinder productivity. Juggling multiple tasks simultaneously can lead to divided attention, decreased focus, and reduced efficiency. In the complex world of tax law and regulations, accuracy and attention to detail are paramount. Constantly context-switching between tasks can increase the likelihood of errors and oversights, potentially leading to compliance issues or inaccuracies. By optimising productivity tax professionals can benefit from focusing on one task at a time, dedicating their full attention and energy to each project.

Boosting productivity in your in-house tax team isn't about working harder, it's about working smarter and creating an environment where everyone can thrive. Streamline your workflows, invest in learning, embrace the right tools, prioritise important tasks, and above all, don't forget to take care of your most valuable asset: your people.

Experience new levels of productivity with these tips. Our studies have shown that you can cut research time by up to 50% using Tolley’s solutions!

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