Tax accountants are involved in assisting businesses, individuals and organisations in optimising tax efficiency.
To achieve this they develop strategies, implement innovative tax planning and maintain compliance via a broad range of tax advisory services.
Tax accountants are involved at the heart of transactions such as mergers, acquisitions, or setting up new operations abroad.
Entry and progression
Tax accountants tend to work in practice. Candidates can enter a career in tax at associate or assistant level and studying for a professional qualification such as ACCA whilst gaining working experience. Employers will tend to recruit graduates.
The ACCA exams provide the knowledge and skills that complete finance professionals, including tax accountants, need. Those working, or aspiring to work in tax would find the options exams Advanced Financial Management (P4) and Advanced Taxations ( P6) most relevant.
Two performance objectives which will be most relevant for tax accountants would be PO19 Evaluate and compute taxes payable and PO20 Assist with tax planning.
It is not just about exams. Getting the right experience helps trainees gain the competencies needed to enter and move up through their career in tax. Areas such as evalualting and computing taxes payable (PO19) and assisting with tax planning (PO20) would all provide great experience and relate to the performance objectives (PO) which need to be signed off as part of the Practical Experience Requirement (PER).
Career progression in this role can be supported by developing and demonstrating professional behaviours. Take a look at the behavioural competencies in the Competency Framework to reflect on the type of behaviours which are useful for tax accountants.