So you’re thinking about moving in-house?

Historically, many tax professionals change employer upon (CTA/ACA) qualification. Reasons for moving at this point will vary, but the most common reason stems from the desire of candidates working in a professional firm to move in-house. In-house tax specialist Stewart King reviews the main reasons and advantages for such a step in a tax professional's career.

At this stage of your tax career it is likely that you have been with your employer for three or more years. Your qualification, twinned with the experience you have acquired means that you are now an attractive prospect to commercial groups, looking to further develop their in-house capability.

Why move in-house?

There are various reasons tax professionals consider a move into commerce and industry. The most common reasons include:

• The opportunity to witness how your work directly impacts on your organisation.

• Increased depth in the work you are exposed to – Although working in a firm allows you to experience different companies and sometimes industries, it is likely that you will not see a project through from beginning to conclusion. Working in-house will allow you to see projects from start to finish.

• To assume a higher level of visibility across the business – A common complaint from candidates working in larger professional firms is that they feel like a small cog in a big wheel. In-house teams are likely to be significantly smaller and you are likely to hold relationships with all other members of the tax department, including the Head of Tax.

• The desire to develop commercial acumen – A move into industry will eventually allow you to participate in making business decisions that are not solely tax-related.

• The prospect of no time sheets, a stronger work life balance and an increase in financial reward.

• A chance to move away from tax – It is easier for a qualified (ACA or CTA) corporate tax professional to move into a broader finance focused role if they are already operating within that business as organisations are likely to attempt to recruit internally before making an external hire.

In-house career paths

Upon deciding that you are going to work in an in-house tax function, there are three main types where you will find career opportunities.

• Large tax functions
  Typically these tax departments are based in the larger listed companies and financial institutions and will number between eight to 50 tax professionals. Departments are likely to be split along tax disciplines, with the direct tax function being divided along UK and international or group compliance and advisory lines.
  An entrant at the newly qualified level can expect to spend one to two years on compliance before progressing to a planning and advisory-based role. In some of the larger departments and investment banks, direct entrant advisory roles do exist.

• Medium-sized functions
  Such tax functions normally contain between three and eight professional staff and entry-level opportunities are usually in group compliance and planning. If you choose certain industry sectors and companies, you can quickly gain exposure to challenging project and advisory work and a greater degree of autonomy. This is particularly true of fast growing industry sectors, groups expanding overseas and organisations that outsource compliance work.

• Small tax functions
  With this size tax function, typically up to three tax staff, career opportunities offer considerable exposure to group compliance and reporting issues and are generally UK focused.  

How we can help

Pure Taxation is the leading tax recruitment firm, with extensive coverage of the FTSE 100, FTSE 250 and overseas multinationals. A number of our consultants have worked in the tax profession so can provide you with clear, impartial advice on how to effectively manage your career at this exciting crossroads.

Contact Stewart directly on +44(0)20 7429 4444 to discuss the opportunities that are available to you based on your skills, experience and aspirations.