2010 April Reed Elsevier Innovation Newsletter Article
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Transcript of 2010 April Reed Elsevier Innovation Newsletter Article
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Reed Elsevier Innovation Newsletter Article
Interactive Tax
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World:
Coaches - Prepares - Teaches
What is it?Interactive Tax Worl
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d is an interactive training/information aid for tax practitioners, lawyers, ac
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countants and students that enables these groups to interact with “clients” in real
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life situations. This interactive training tool allows the user to enter a game portal as
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the “tax adviser”. This “tax adviser” role enables the user (long-term qualified tax
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practitioners to students) to test their existing knowledge in lifelike tax problem
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scenarios by means of enquiries from the “client” with which they are interacting. T
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he scenarios allow the user to gauge the extent of their tax knowledge as this pertains to
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certain tax situations thereby training the user on the matters relating to that
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particular business scenario and its specific tax problem.
How does it work?The us
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er enters into Interactive Tax World. After a short introduction the game starts and
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users are given a choice of six different tax scenarios. Gamers may choose any of the sce
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narios; however, Freddy the Farmer is a good introduction for this training tool.
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Once a choice is made, gamers are provided with a short two-minute film in which rel
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evant information about that tax scenario’s implications is revealed—information
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which is not always immediately evident to the gamer! After the film, the gamer is given
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a choice of different taxes that might apply to the previously viewed tax scenario. A
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fter the choices are made, the model answer and the total score to date are shown on th
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e screen. Further information about each relevant tax may be obtained by the gamer v
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ia clicking on the forward arrow and the back arrow.
After each scenario is comp
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leted, a running total of the gamer’s scores is shown. Once all six scenarios are compl
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eted, gamers will use the INVOICE button to conclude their training and receive t
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heir final scoring. The invoice is simply a record of course completion.
The gamer m
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ay obtain additional information if they have access to LEXISlibrary®. LexisLibra
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ry offers clients thousands of trusted legal, tax and regulatory sources.
The Eng
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lish Village Scenario Game
In the first six filmed sequences (the English vill
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age), the “advisor” enters a typical village with the choice of entering the games of
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the small butcher's business, the pub, the local tea shop, hotel, the farm, etc.
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The Farm Scenario Game
After pressing the option to be a
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n “advisor” in the Farm game, the user is transported to the farm. The user is then
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prompted to choose to be in the farm setting or in the farmhouse client advisor
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y setting. If the gamer chooses the farm setting mode, s/he is then transported a
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s the ‘tax advisor’ to the farm yard with the farmer alongside.
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The Game StartsThe client farmer tells the “advisor” that he (the f
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armer) has recently bought a new tractor and is now letting his old tractor to a
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neighbouring farmer. The tractor cost him £175,000 new and he is receiving £
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1,000 per week for the rent of his old tractor.
The “advisor” makes a choice to indic
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ate that s/he thinks there are: 1. income tax (IT); 2. capital gains tax (CGT); 3. value a
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dded tax (VAT); 4. tax planning options; 5. inheritance tax (IHT); or 6. stamp dut
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y. By clicking on the various choices, s/he chooses which of six potentially releva
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nt options s/he wishes to explain to the client. When complete, the user moves on to
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the model answer that covers many tax aspects such as the farmer gifting his farmlan
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d, selling his herd of cattle or considering the implications of diversification
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into other areas, e.g., farmshop, quadbiking, etc.
The Game CompletesThe game ca
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n be completed at the user’s own pace. The score is presented at the end of each
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training game. The overall games score is presented once all training games have be
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en completed.
Plans for this Game
At this time, the game is being piloted to prosp
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ective customers. Producers are thinking about possibly using it as an addition
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to the webinars library as well as linking it to our tax books library. While this early pilot ve
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rsion has not yet generated any income, it is hoped that with enough interest in
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follow-up scenarios and its release into the market, income generation will come f
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rom lawyers, tax preparers, professors, teachers, and students that want to increa
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se and hone their tax knowledge and skills in this innovative way.
Author: Jon Go