• Request for information checklist
You can send this through to clients to help them collate the necessary information to complete a company tax return for the 2023-2024 income year. In effect, this is an annual set of instructions to foster efficient access to information between you and your client. We also have other relevant checklists available for other entity types, such as individuals, trusts and partnerships – accessible as part of 12-month subscription to CCH iKnowConnect Practical Tools.
Note, the checklist is a collated version of questions and as such the items may not be entirely relevant to each of your client base. We recommend and encourage you to use the checklist as a template, and remove/add lines as you see fit in order to customise this for each client.
• Information to assist in annual accounts preparation procedure
Most companies will require a set of financial statements to be prepared with the income tax return in accordance with the engagement letter. One of the biggest obstacles to efficient processing of annual accounts is the back-and-forth communications for answers to client queries. This list of items would be beneficial to receive prior to commencing the work to ensure you keep costs down.
The main objective of the “Information to assist in annual accounts preparation” procedure is to reduce time spent communicating with clients by pre-empting items that are usually queried during the first run of financial accounts preparation.
• Information resources
Client communications is a core activity for accountants to engage existing clients and potentially attract new clients to your practice.
To assist with this outreach, the Wolters Kluwer team have prepared the following client letter templates to assist your clients to understand what the tax changes are for 30 June 2024, as well as tax planning and strategy advice.
- Template 1: Tax changes for your business to be aware of for 30 June 2024
- Template 2: Small business tax planning and strategies for 30 June 2024
