Everyone wants to save money on their tax bill and everyone wishes someone else would do the paperwork for them.One key compliance job is to complete your clients tax return according to the current regulations and file it on time.Depending on your specialism, you might do calculations, accounting and paperwork for things like setting up family trusts or estate planning.
At the beginning of your career, you can expect to focus on compliance while you learn the ropes. It means knowing tax regulations inside out and being able to take advantage of all the available tax structures, tax breaks and loopholes. There are specialisms within this, such as transfer pricing. Specialisms include estate planning and high net worth individuals. This is different from tax on personal income or company profits. In your first few years, youll work towards qualifications as well as doing your job. The largest are the Big Four ( Deloitte, EY, KPMG and PwC ) which also offer a range of consultancy services. Gt s5300 cwm recovery downloadDepending on the companys size, the tax department could be one person, twenty or hundreds. They want people who can interpret complex legislation and explain clients options in plain English. Once you have two years of experience in tax you can take the ATT (Association of Taxation Technicians) exam to qualify as a tax technician. You can follow this with the CTA exam to become a Chartered Tax Adviser. Try to win yourself a place on one of their introductory programmes. Again, check out the Big Four and look at smaller tax firms to see what they have to offer. You can expect a pay rise of about 10,000 when you qualify as a CTA. After five years you might be earning 50,000 and after ten years it could be 100,000. It can be quite hard to move sideways into a related accountancy role you may have to re-qualify or take a significant pay cut. Career Step Tax Id Number Professional Youre LikelyAs a freelance tax professional youre likely to handle personal taxes or those of smaller companies. Youll explain complex regulations in simple terms. There will also be paperwork and calculations where youll need to be meticulous.
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