But how to get there? Each business needs to plot its own course towards this goal, which will depend on a range of internal and external factors.
To start, it’s important to identify how the tax officer operates now and whether the they can leverage existing or planned change projects elsewhere in the business to access 'better' data, sooner. This is the lifeblood upon which future flexibility, scalability, and transparency depends.
A realistic vision can then be built for the team, and a journey can be plotted out to achieve it. Quick wins can often be identified along the way and complement existing change projects without significant financial or resource commitment.
Often, the tax officer or adviser lacks the confidence to engage with these other projects and stakeholders, but early and open two-way communication about partnering is key.
No change is not an option, and the most effective change to implement and operate always comes from such joined-up initiatives.
The road ahead
As tax continues to change, the Edinburgh reforms and initiatives like MTD are evidence of authorities playing catch-up.
Tax should see these initiatives as opportunities to build resilience, flexibility, and insight over data—an opportunity to become a profit centre and proactive risk manager for the organisation.
If a client has not started evolving their tax team, financial advisers can bring significant strategic and operational value by starting the conversation.
As a trusted adviser, you are in an optimal position to help them understand the impact of these changes, inform and educate stakeholders and, most importantly, help your clients develop and deliver practical plans to change.
The road ahead may seem daunting, but the pace of change will not slow. There is no real alternative to tax adapting to, and benefitting from, its new role.
Andrew Burman is principal of tax transformation at tax services and technology firm Ryan
