A tax career?

The rewards are enormous, intellectual stimulation, variety, constant change, the opportunity to travel and lots of loot too.

The hard one
This is the difficult path to follow but the most satisfying. (I would say that as a tax
accountant). You will need all the commercial savvy and practical skills of your
accountancy peers but with added ability to meet the intellectual challenge emanating from continual change. This may be from legislation, tax cases, or government regulation which will happen every day - but not only from the UK. The EU will continually demand you alter your perspective knowledge and expertise and not just in VAT. As your career develops your exposure to foreign trading environments will require you need to deal with tax regimes across the world and if that is not enough you will be negotiating with overseas tax departments. The cultural diversity and approach to tax in different countries is staggering.

New accountants more examinations
If you think that is cool, now the nasty bit - more examinations!
If you are fed up with examinations tax may not be the option for you. In many ways your accountancy qualification turns you into a GP but you need specialist technical skills to deal with tax effectively.

Passing the examinations (you do get some exemptions) leading to the Charted Tax Advisors (CTA) qualification gives you the edge over your peers as it is becoming the "must have" gong. In the future it will get you into the frame for a job and once you have an interview then it is up to you. So if you want to move into tax make sure your new employer will support you in obtaining those necessary pieces of paper.

Later if you have not had enough there are specialist international tax qualifications to keep you busy at night!

Industry or the profession
This is a difficult one. For new accountants getting the qualifications should be the driver. In the profession firms are likely to be keen to help you with gaining more qualifications. You can specialise in one tax such as VAT or corporation tax at work and gain practical experience whilst being exposed to a fuller range in your studies.
Bigger firms may like you to specialise in a few taxes as their larger clients will need an in depth knowledge of particular areas whilst smaller firms will want you to be able to consider your clients tax affairs in the round on a multi tax basis.
There may not be the same level of support in industry but some of the bigger
companies will be keen to enhance your skills. The benefit of working in a company is that you gain in depth knowledge of how the business runs and get involved at every level of the organisation and how tax impacts on it.
You could consider joining a professional firm first and then think about industry
once you have your qualification and a few years experience under your belt.

Compliance or consultancy?
Many people shy away from being involved in what they see as the mundane task of preparing such things as corporation tax or VAT returns. However these are essential areas of compliance where you need an understanding of the processes that affect a business especially if you are intending to work in industry or get involved in HMRC investigations. They are also vital in ensuring a planning opportunity is implemented correctly. So don't be put off if you prefer to get involved in the nitty gritty.

Tax consultancy is fascinating whether advising on share options for a family
company or the transfer pricing policy for a multi national. There are lots of
opportunities to specialise without getting involved in the day to day mechanics of
compliance.

Or of course - this is tax - you may prefer a career which is a combination of both.

You have got the tee shirt - but what now?
If you have got the exams and those vital years of PQE you may know what you want to do now. Or you have yet to decide what tax to specialise in, to become a general tax advisor, work overseas for a few years, work in industry or press on to becoming a partner before you are 30 - choices, choices.

Whatever it is we will have the job for you.

Tax is not everything - people are
But don't forget technical tax knowledge is only a small part of the skill set you need for a successful career. Don't forget to develop your emotional intelligence too - understanding and empathising with people and building rapport with colleagues and clients.

Parlez vous le chinois?
One last thing - you do business better in the language of your client so keep those language skills up and develop new ones too.

Below is a listing of typical jobs that newly qualified accountants will be considering: click view for details

Consultancy Jobs
Corporate Finance Jobs
Financial Control Jobs
Fund Accounting Jobs
Industry and Commerce
Internal Audit Jobs
Private Equity and Venture Capital Jobs
Professional Practice Jobs
SOX Jobs
Tax Accounting Jobs