Tax Advisers and The Recruitment Market | How Important Is Your ...

Tax advisers can prove really useful to businesses.
When the economy crashed in late 2008, the tax sector was particularly badly hit and redundancies became abundant.
Individuals and companies seemed to feel that they had more important things to spend their money on than good tax advice.? Furthermore, lots of the mergers and acquisition types of work dried up, meaning there was very little activity to advise and plan for from a tax perspective.
However, after a slow start to 2009, the tax market began to pick up.? Emergency Budgets were held and the number of changes to the tax laws over the past 4 years has meant that it has never been more important to consult with a tax adviser in order to effectively plan for business and personal matters.
Certain emergency measures, such as extended loss carry back relief for companies, needed the input of a tax professional to ensure that the treatment was being applied correctly.
Changes to entrepreneur?s relief, capital allowances and tax rates meant it was more important than ever for tax professionals to become involved in advice.
Furthermore, pre-crash changes to capital gains tax and planning such as the implementation of enterprise management incentive schemes were being misunderstood, leading to complaints and unexpected amounts of tax due for clients who had previously enjoyed paying minimal taxes.
Overall, the role of the tax adviser became more and more prevalent and the market for recruitment improved.
However, those in the profession were expected to change and adapt to these new times.? Gone are the days where the tax adviser can just sit with their nose in legislation reviewing technical information. For the adviser, it has become more and more important to take a role in business development and the winning of work.
Billing targets and cash collection pressures mean that the profession is no longer for those who enjoy cerebral challenges.? Instead, they must consider targets for client wins, targets for billing and ensuring that the money is collected.
Furthermore, clients these days want more for their money.? In the halcyon days of economic boom, a client would happily pay fees with very little cause for dispute.? However, as clients become more fee conscious, it is ever more important for the adviser to justify their fees.
Despite this, it is clear that the tax market is very much on the move, and as tax has a bearing on most matters these days, employing a tax adviser is a smart move to make.

Charlotte Platt writes on behalf of Pro Tax recruitment Ltd

Source: http://www.howimportantisyourfinance.com/2012/08/07/tax-advisers-and-the-recruitment-market/?utm_source=rss&utm_medium=rss&utm_campaign=tax-advisers-and-the-recruitment-market

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