Interested in a role as a tax accountant? We spoke to group tax accountant, Ken Chan, who recently moved in-house after qualifying in practice. Find out how he’s finding the transition and what advice he would give to those looking to make it in tax.
Technical tax skills are clearly important, but it is just as important to be able to apply this to the business and to be able to explain things clearly to non-tax professionals.
I like the variety of work and the different people I get to work with. I particularly enjoy the fact that there is a lot of scope for me to expand my responsibility and scope of work. For example, I really like the opportunity to get involved with particular transactions or to take charge of specific projects.
Every day is very different. But on any given day there is always a number of projects and different pieces of work that I have to look at. I might be responding to an urgent query about a transaction, liaising with our overseas finance teams to review tax returns, or carrying out technical research to determine the impact of new tax legislation on the business. Every so often, I will start the day at a breakfast seminar to keep myself updated on recent legislation changes.
Tax law around the world is constantly changing. There is always something new to learn.
I chose tax because tax law around the world is constantly changing, which means that there is always something new for me to learn about and discover. It is also a good platform to develop a wide variety of skills, including legal analysis, commercial understanding and accounting/tax concepts.
I think that working in-house is suited for someone who is keen to apply their tax knowledge in a much more commercial way. This means that, although the work may not necessarily always be as technical or in-depth as in practice, there is a lot of scope to broaden your knowledge about other taxes as well as other parts of the business.
I would say that one of the key differences between practice and the industry is that there are far more stakeholders to work with. Since leaving practice, I have realised that the best tax answer does not necessarily give the best commercial answer. It is therefore important to be aware of who the stakeholders are, what their goals are and how to work with them to achieve the best overall result for the business.
Ken Chan is a Group Tax Accountant at a leading insurance group.
Start your tax job search today.
5 expert tips for your next accounting job interview
Are you looking to make your next move in the accountancy industry? We’ve asked our accountancy and finance recruitment experts for their top tips to help you shine in your next interview… If you’re looking to land your next accountancy role, preparing for your next interview can be a daunting proceRead More
4 important interim trends for CFOs
The modern CFO is increasingly involved in the hiring process. Hence, it is important to know what is going on in the operational interim management market. We set out the most important trends. Trend 1: The backfill method A trend we are seeing a lot of now, is the so-called backfill method. TraditRead More
Five career paths for newly qualified accountants
If you are a newly-qualified accountant, now is a good time to consider your career options and you have a number of options available to you. “As a newly-qualified accountant, understanding the different career paths available and identifying which area your skills set is most suited to can help whRead More
Come join our global team of creative thinkers, problem solvers and game changers. We offer accelerated career progression, a dynamic culture and expert training.