Tax reporting and strategy: what are your priority challenges?

23 November 2017

By Mark Schofield

In a fast changing tax landscape companies are facing increasing regulatory and data requirements. Business and finance transformation is commonplace, with tax authorities and boards demanding that tax risks are effectively managed.
Have you thought about and identified what are your priority challenges and how you may be addressing them?

Many of my clients are focussing on:

  • Using technology to provide and improve tax processes and information
  • Data quality and management
  • Data analytics
  • Tax governance, transformation, strategy and risk management
  • Compliance sourcing options

We recently worked with a large client to explore their needs and competing challenges. With the background of the above current hot areas, we had a wide ranging discussion spotlighting 12 needs, outlined on our new website. Working together we were able to quickly identify four challenges that were top issues to deal with now, four that will become a priority over the next year and four that were not for their company (but they could understand why they would be an issue for other companies).

With another client, using the 12 needs to support the conversation, we have agreed a roadmap on how their priorities will be addressed. Of course, we will flex this as their needs evolve and are addressed, but I am excited that working together with the client we are acting as a business partner on their TRS journey.

We will be running a podcast series, starting in December, to dig deeper into some of these challenges. Watch this space for invitations!

Drop me a line if you’d like to discuss how we can work with you to identify and address your priority needs in an increasingly important and dynamic area of the tax arena.

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