Over 75% of accountants work extra hours during New Tax Year, study finds

Over three quarters (78%) of accountants said they’re prepared to work extra hours to help reduce the burden on their clients during the New Tax Year period, putting in an average 20 hours of overtime, according to new research from Intuit QuickBooks.

It said it found the difficult economic climate as one reason accountants feel “particularly responsible” for supporting their clients during this period (80% agree), while the same proportion do so to set their clients up for success throughout the year.

Intuit said that over three quarters (77%) of accountants said they’re prepared to be more stressed if it reduces the stress on their clients.

However, the added pressure not only affects accountants’ day-to-day workload but also permeates into their personal life, with more than half (60%) stating they sacrifice having a good work/life balance, (44%) sacrifice getting a good night’s sleep and (38%) sacrificing their own mental wellbeing.

Yet, Intuit’s study found that many think the extra work is worth it, with 84% responding that they see putting in extra hours around New Tax Year as an important part of being a good advisor to clients.

Meanwhile, half of those surveyed also stated that the stress experienced during the New Tax Year period contributes to burnout amongst accountants (50%) and a little less than half of those surveyed stated that it makes it less likely for people to enter the profession (41%).

Jolawn Victor, VP country manager at QuickBooks, said: “Having spent time visiting practices up and down the country these past few months, it’s evident that accountants are pouring huge amounts of time and energy into their customers’ success. This time of year is particularly brutal and accountants are clearly feeling the toll on their wellbeing.”