Reed Elsevier Innovation Newsletter Article

Interactive Tax

 

World:

Coaches - Prepares - Teaches

What is it?Interactive Tax Worl

d is an interactive training/information aid for tax practitioners, lawyers, ac

countants and students that enables these groups to interact with “clients” in real

life situations. This interactive training tool allows the user to enter a game portal as

the “tax adviser”. This “tax adviser” role enables the user (long-term qualified tax

practitioners to students) to test their existing knowledge in lifelike tax problem

scenarios by means of enquiries from the “client” with which they are interacting. T

he scenarios allow the user to gauge the extent of their tax knowledge as this pertains to

certain tax situations thereby training the user on the matters relating to that

particular business scenario and its specific tax problem.

How does it work?The us

er enters into Interactive Tax World. After a short introduction the game starts and

users are given a choice of six different tax scenarios. Gamers may choose any of the sce

narios; however, Freddy the Farmer is a good introduction for this training tool. 

Once a choice is made, gamers are provided with a short two-minute film in which rel

evant information about that tax scenario’s implications is revealed—information

which is not always immediately evident to the gamer! After the film, the gamer is given

a choice of different taxes that might apply to the previously viewed tax scenario. A

fter the choices are made, the model answer and the total score to date are shown on th

e screen. Further information about each relevant tax may be obtained by the gamer v

ia clicking on the forward arrow and the back arrow. 

After each scenario is comp

leted, a running total of the gamer’s scores is shown. Once all six scenarios are compl

eted, gamers will use the INVOICE button to conclude their training and receive t

heir final scoring. The invoice is simply a record of course completion.

The gamer m

ay obtain additional information if they have access to LEXISlibrary®. LexisLibra

ry offers clients thousands of trusted legal, tax and regulatory sources.

The Eng

lish Village Scenario Game

In the first six filmed sequences (the English vill

age), the “advisor” enters a typical village with the choice of entering the games of

the small butcher's business, the pub, the local tea shop, hotel, the farm, etc.

The Farm Scenario Game

After pressing the option to be a

n “advisor” in the Farm game, the user is transported to the farm. The user is then

prompted to choose to be in the farm setting or in the farmhouse client advisor

y setting. If the gamer chooses the farm setting mode, s/he is then transported a

s the ‘tax advisor’ to the farm yard with the farmer alongside.

The Game StartsThe client farmer tells the “advisor” that he (the f

armer) has recently bought a new tractor and is now letting his old tractor to a

neighbouring farmer. The tractor cost him £175,000 new and he is receiving £

1,000 per week for the rent of his old tractor.

The “advisor” makes a choice to indic

ate that s/he thinks there are: 1. income tax (IT); 2. capital gains tax (CGT); 3. value a

dded tax (VAT); 4. tax planning options; 5. inheritance tax (IHT); or 6. stamp dut

y. By clicking on the various choices, s/he chooses which of six potentially releva

nt options s/he wishes to explain to the client. When complete, the user moves on to

the model answer that covers many tax aspects such as the farmer gifting his farmlan

d, selling his herd of cattle or considering the implications of diversification

into other areas, e.g., farmshop, quadbiking, etc.

The Game CompletesThe game ca

n be completed at the user’s own pace. The score is presented at the end of each

training game. The overall games score is presented once all training games have be

en completed. 

Plans for this Game

At this time, the game is being piloted to prosp

ective customers. Producers are thinking about possibly using it as an addition

to the webinars library as well as linking it to our tax books library. While this early pilot ve

rsion has not yet generated any income, it is hoped that with enough interest in

follow-up scenarios and its release into the market, income generation will come f

rom lawyers, tax preparers, professors, teachers, and students that want to increa

se and hone their tax knowledge and skills in this innovative way.

Author: Jon Go

lding, ATT TEP, London.