Temporary and contract tax professionals are an extremely attractive option

Temporary and contract recruitment of tax professionals is becoming an extremely attractive option for clients and candidates alike. Candidates enjoy the flexibility that contract employment offers and our clients are recognising the benefits of taking on a contractor during busy periods, for special projects or to cover while the permanent recruitment process takes place, write Kimberley Britt and Dalia Greenwood, Pure's interim tax recruitment specialists.

Flexibility and work-life balance

Candidates enjoy the flexibility that contract employment offers and our clients are recognising the benefits of taking on a contractor during busy periods, for special projects or to cover while the permanent recruitment process takes place.

Current temporary tax jobs market conditions

Over the past 12 months, the interim tax market has been extremely buoyant. As a large and very experienced recruiter in the tax market, we have recruited for a wide range of positions, from part qualified tax accountants to heads of tax in industry and consultants to directors in the profession. These roles cover a variety of disciplines including corporate tax, international tax, VAT, personal tax, expatriate and employee taxes.

Why do candidates choose interim employment?

Candidates are often drawn to the interim market for the flexibility that contracting offers.  The interim market is often attractive to those who want to take advantage of the opportunity to work within in-house tax departments across a variety of business sectors. Some candidates choose interim as a lifestyle choice allowing breaks in between assignments for travel or other commitments. Contracting can also provide an opportunity to learn or advance technical skills.

Financially, interim employment can also be a lucrative alternative for contractors in comparison to a permanent role. When annualised, hourly and daily rates are usually higher than permanent salaries. Companies pay for an instant solution, assured knowledge and expertise in an individual who has the flexibility to adapt to an unfamiliar environment and add immediate value. The higher hourly or daily rate is also in recognition of the absence of the stability, benefits and security that is provided under permanent employment.

Why do our clients choose contractors?

From our clients’ perspective, contractors offer a value added service in the form of cost savings, dissemination of knowledge and flexibility. They can resolve skill deficits and make their expertise immediately effective or provide a swift response to keep a project on track.

Interim assistance is predominantly required around tax compliance and reporting both during busy periods and at year end. There has also been increased needs for senior tax professionals to join a company on an interim basis, either bringing tax in-house for the first time or working in a trouble-shooting capacity. More recently, we are noticing a significant increase in the demand for interim VAT professionals and Transfer Pricing consultants both within the commercial sector and in financial services. The commercial sector continues to provide the highest number of temporary and contract opportunities for interim tax professionals.

Companies are increasingly recruiting tax professionals on a project basis as an alternative to Big Four or Practice secondees. They are now more attuned to the financial benefit of recruiting a Big Four- trained candidate through an agency as an alternative to a Big Four secondee. Interestingly, daily charge rates for contractors through Pure Interim are akin to, or can be less in some instances, than an hourly charge rate for a Secondee or Advisor from a Big Four accounting firm. Given the number of high calibre candidates immediately available for short term assignments who are both Big Four trained and have subsequent commercial experience, an interim resource from Pure is a far more viable economic solution.

The quick turnaround for recruiting an interim candidate is also seen as a key advantage to employers.  In some cases, an interim resource can be found within 48 hours and the candidate can start to make an impact immediately.

What is the process involved in using a contractor?

Prior to a candidate being presented to a company for an interim position, they will be interviewed and screened by one or more of our consultants at Pure. We will also request confirmation of their eligibility to work in the UK, proof of identity and references which will be taken before a CV is sent to a company for consideration for a role.

Temping Versus Contracting

There are a few generic differences between temping and contracting.

• A temporary employee is exactly that. The individual will work for a company on a non-fixed term basis. The employee’s salary is usually calculated on an hourly or daily rate and is paid through the Pure Recruitment payroll. Candidates will complete timesheets on a weekly basis which are authorised by the company they are working for and then sent to Pure’s payroll department for payment.
• Contractors are generally employed for a fixed period of time, are paid on a pro rata basis and are placed on the client’s payroll. Generally, both parties require a notice period for termination of the contract.
• Holiday Entitlement - In accordance with the European Working Directive, all temporary or contracting employees are entitled to a minimum of twenty four days paid leave per annum. For temporary employees, this is paid along with the standard hourly pay from the beginning of each assignment.
• Tax and National Insurance - PAYE (Pay As You Earn), tax and National Insurance will be deducted from the candidates’ salary automatically.

Pure is the largest, most experienced recruiter in the tax market. We have a superior network of excellent candidates available at short notice, at all levels, for both short and long term contracts and a vast number of interim roles within the FTSE 100 and FTSE 250 across all sectors, financial services and the profession. 

For more information on the interim tax jobs market, please contact Kimberley Britt 0207 429 4425 or Dalia Greenwood 0207 429 4426 or email at kimberleybritt@purerecruitment.com or daliagreenwood@purerecruitment.com.