Tuesday, 29 May 2018

Career options for tax professionals

The assumption often made about students pursuing a degree in tax is that they’re on the fast track to a certain career in accountancy. Considering, however, that there’s only a finite number of graduate positions available in accountancy firms each year, it’s clear that not every tax graduate will follow suit. So what are some other career options?

Tax-based education grants you a unique skill set: the ability to be a team player, the ability to not be a team player, communication skills and commercial awareness. The junction of these skills means you’re equally well versed in a numerical, analytical or communication-heavy role. In reality, after completing your postgraduate tax training, you are spoilt with a unique spread of career options. Here are five paths you may consider conquering.

Accountancy

There is no denying that the most well-trodden career avenue for recent tax graduates is a role in an accountancy firm. The most attractive roles being those in the ‘Big Four’ firms: Deloitte, PwC, KPMG and Ernst & Young. Large and mid-tier accountancy firms offer roles that cover a large range of tax areas and an opportunity to specialise from an early point in your career. Your tax specialty could lie in financial services, corporate tax, employment tax or tax for private clients, so it’s within reason that this is by and large one of the most alluring prospects for a tax graduate.

Law

Law and tax are often considered to be complementary degrees; many tax lawyers pursue tax qualifications, and tax accountants a law degree. Obviously, this career path is only available to experienced tax professionals, however an additional education resource for the law-inclined is the CTA2A Advanced subject. This postgraduate qualification can be undertaken while working full-time, and works to explain the rationale behind tax laws.

Government financial advising

With a qualification in tax, it’s safe to say that you’re proficient in numbers. Government financial advising merges your analytical and communicative skills to ensure you can best mentor people through financial decisions. For success in this field, work experience as a registered tax agent or tax financial advisory are looked upon favourably.

Teaching

Moving between industries doesn’t mean you have to sacrifice your hard-earned skills, clocked hours and valuable industry connections. In fact, you could strengthen your industry ties and reputation by returning to academia. For experienced tax accountants, there are often opportunities for positions from educational bodies, as well as in corporate training companies or specially designed educational roles in large-tier companies.

Entrepreneurial

For the tax graduates who dream of running their own business, the opportunities are endless. Beyond running your own firm, there is also an opportunity to marry two unique specialties into one business venture: environmental accounting, international accounting and entertainment accounting are all niche self-employment routes that offer you a market difference.

Taxation knowledge can be your golden ticket to any number of roles that cross traditional industry barriers. Browse our range of programs and subjects to get qualified for a career in tax.

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