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Careers in tax – get set for the recruitment surge

01/10/15

It is difficult to describe tax as universally loved, and many higher earners feel a sense of impending dread when hefty deductions appear on a payslip. Indeed, taxes can even cause mass public disturbance; with the implementation of the poll tax in 1990 causing riots on British streets.

Not everyone in the country is so averse however. Many accounting and finance professionals enjoy working in what can be an extremely challenging and interesting sector.   Accountants working in tax help corporate and personal clients deal with the multi-layered tax system, and the majority find successfully helping clients to make sense of this extremely rewarding. While tax accountants need an eye for numbers and strong social skills like all accountants, the role also requires the ability to navigate and make sense of complex legislative frameworks.

According to Marks Sattin’s Salary & Market Trend Report 2015, a busy in-house tax market and the continued economic recovery has had a dramatic impact on recruitment needs across practice, with the Big 4 and top ten firms recruiting in volume across the year. 79% of tax practitioners told us that they are anticipating their firms actively recruiting over the next 12 months as business continues to improve – making now an excellent time to explore opportunities in the sector.

Taxation roles are well remunerated due to this demand for talent. Within the London market, managers can expect to take home between £50,000 and £68,000, which rises to a generous £95,000 upper limit for senior managers. Among directors and partners, a six figure basic package is the norm. Bonuses are also an important feature of remuneration in the sector, and 50% of respondents report they are happy with their current bonus.

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