This document provides an overview of tax careers in the UK. It discusses the different types of taxes that contribute to the UK government budget, including income tax, corporation tax, VAT, and council tax. It then describes the roles of HM Revenue & Customs and professional bodies in tax administration and setting standards. The document outlines the skills and qualities needed for tax careers, potential employers, salaries, and the roles and responsibilities of tax professionals. It aims to dispel myths about tax careers and promotes the benefits of obtaining professional qualifications.

1. Welcome

2. Rob Adams & Vicky Studdart
Merseyside Branch of the Association of Taxation
Technicians & the Chartered Institute of Taxation

3. Where taxes come from
There are many types of tax that contribute to the UK Government budget. They include:
Income Tax A personal tax on your personal income, above a certain amount. That income usually includes wages,
pensions and interest on savings.
Corporation Tax Paid by companies on their profits.
Excise Duties There are various excise duties – they include Car Tax and tax on goods such as alcohol and tobacco.
Value Added Tax (VAT) You pay VAT when you buy goods and services in the European Union (EU), including the
UK. It's normally included in the price of the goods or service you buy. VAT is not payable on some things.
Council Tax Helps pay for local services like policing and rubbish collection. It’s a tax on the value or size of the
home you live in whether owned or rented.
People also pay National Insurance contributions. This is the money you pay to build up your entitlement to state
benefits such as Jobseekers’ Allowance, Incapacity Benefit and the State Pension.

4. In’s and Out’s of tax in the UK

5. Why do we need tax jobs?
Parliament enacts tax law
HM Revenue & Customs oversee the administration
& collection of taxes
Some people need help calculating out how much
tax to pay
Organisations need to calculate their own tax and
understand the tax consequences of their actions

6. Who would want to work in tax?

7. Numerate, but not
math geeks
Entrepreneurial-
lateral thinking /
problem solving
Empathetic
Literate – able to
write well
Presentable Reliable
Ability to convey
complex
information in a
simple manner
Able to use IT and
office systems
Motivated to do
well
The qualities you need

8. Benefits of a career in tax
Fast changing
industry – tax law is
updated every year
this offering a highly
stable, secure and
high paying career
option
Everyone is subject
to taxes – individuals
and businesses all
require advice and
supportive from tax
professionals
UK tax is only
relevant to UK tax
payers which means
there will be jobs in
the UK
Increasingly cultural
diverse population
of tax professionals
who are entering
the field and
climbing their own
ladder of success.

9. Where do tax people work?
Advisory firms
(tax
consultancies,
accountancy
firms, legal firms)
Business (local,
national and
international)
Running your
own tax business
HM Revenue &
Customs

10. Some employers
Business and Industry
Professional Services

11. How Much Money Can I Make
in Tax? (2012 figures)

12. What would I actually do?
Preparation of tax accounting calculations
Analysis of data
Carry out tax research and summarise findings
Meet clients as part of the tax team
Learning about corporation tax and helping businesses comply
Learn about PAYE and draft PAYE advice
Respond to HMRC correspondence and assisting with enquiries
Preparation of tax notes for accounts and reporting
Respond to queries from finance functions and auditors
Study for professional qualifications (ATT, CTA or others)

13. The role of a professional body
Protection of the public
Interaction with other
professional bodies
Discipline
Badge of quality
Input into policy and
operational implementation
Acting as the voice of the
profession Leading the debate
Helping to ensure the right
amount of tax is paid
Support for members
• Standards
• Practical guidance and advice
• Access to resources
Professional
Body
Providing networking
opportunities

14. Why a professional qualification?
Badge of quality
Professional esteem and status
Gain the knowledge, skills and ability faster than just working and learning on the job
Better job prospects – improve your employability
Ethics - Code of ethics is assumed if you belong to a professional body – fundamental
principles:
•Integrity
•Objectivity
•Professional competence and due care
•Confidentiality
•Professional behaviour

15. The UK professional tax bodies
The leading professional body concerned
solely with taxation. Members have the
practising title of ‘Chartered Tax Adviser’
The leading professional body
for qualified taxation technicians
who provide UK tax compliance
services and related activities

16. Entry requirements
To be eligible to register as a
student you must be at least 16
years old, with a minimum standard
of English and mathematics
To be eligible to register as a
student you must hold a previous
professional qualification (ATT is
one of several choices)

17. How it works

18. Myths stopping you from a
great tax career
Myth 1: I will have to work with
numbers all day.
Reality: Problem solving, interacting
with people, communication and
understanding business is the most
important. Working with numbers
can be a small part of the job.

19. Myths stopping you from a
great tax career
Myth 2: I will have to
work long hours during
tax season.
Reality: Yes, but they are
predictable and you can
schedule your holidays
and other commitments
around them.

20. Myths stopping you from a
great tax career
Myth 3: Tax changes all the time.
Reality: True but that is what
makes it interesting. Most of the
tax laws remain the same so when
you have a good foundation in
tax, changes keep it interesting

21. Myths stopping you from a
great tax career
Myth 4: I will have to work with
auditors and other people who don’t
understand tax.
Reality: In tax there is a lot of room
for error and mistakes are costly. Your
work will be reviewed by numerous
people which is a regular part of the
job. This is why communication skills
are also important.

22. Myths stopping you from a
great tax career
Myth 5: You have to spend a
lot of time and money to
become a qualified tax
professional.
Reality: There is no question
that a prestigious profession
takes time, money and work.
However if you want to greatly
expand your job opportunities
and earn money – it’s worth it.

23. Myths stopping you from a
great tax career
Myth 6: It takes too long to
qualify as a tax professional.
Reality: Actually, in as little as two
years, working part-time or full-
time in a tax role, and passing five
exams, you can then become a
member of the Association of
Taxation Technicians (ATT).

24. Want to know more?
For more information go to:
www.taxguideforstudents.org.uk/careers