Well, my foray into the world of the web log: here we go…

Thanks to Alex for her introduction last week. I’ve got a whole range of topics to discuss with you all over the coming months: the recruitment market, developments in the world of taxation, current affairs and, of course, I’ll be sharing my legendary love of sports with you too. The latter no doubt keeping you fully up to date on the ups and downs of my beloved Arsenal FC’s season as well as my own tribulations on golf courses across the Home Counties.

Before we get going, I want to wish Alex Lawrie all the best as she heads off on maternity leave for the next six months. We look forward to hearing all about her new arrival – and hopefully getting some more of delicious her home made jam when we catch up!!

Watch this space over the coming weeks and months for all the latest taxation developments, I’m keen to hear from you as well so please keep your thoughts and comments coming.

Alex lawrie, Arsenal FC, blog, Blogosphere, current affairs, New blogger, recruitment, tax jobs, Tax market, Taxation

Though the word “tax” was mentioned 50 times during the budget speech,  tax didn’t feature that highly in the budget last week.  With “jobs”, “support” and “help” getting 26, 33 and 31 mentions respectively, this was more of a budget of politics than economics.   As we in tax recruitment normally know better than to try to call our candidates or clients when the budget speech is on, this year saw a surprising number of calls come through to the team during what is normally a quiet few hours as the eyes of most tax specialists are glued to the television… 

Many of the people I spoke to were not expecting much and post- budget the overwhelming feeling is that of a “non” budget described by various people as “a damp squib”, a “non-entity”, “very dull” and “a wash out”.    With no changes in terms of VAT, Corporation tax or CGT and the changes to personal taxes having already been announced in the pre budget report not much changed.  

So, not much change for the tax world from this budget.    However, harking back one year and onto the  Senior Accounting Officer regulations, responsibilities associated with this are now a regular feature on most manager level in house tax job descriptions…

budget, Tax, tax in house jobs, tax jobs

There is a certain irony that the financial crisis of the last 2 years originated with mortgage related products, and that as the employment market in London begins to return, that home affordability and cost of living may be seen by some as a barrier to entry for new talent in the London market.

Of the 350,000 employees in London, not everyone is employed in the high bonus paying positions that have been hitting the headlines recently. Some employees at the earlier stages of their career, attracted by the intellectual challenge and dynamic nature are also able to consider opportunities in international locations with favourable tax conditions.

It is therefore encouraging today to see that Santander is offering hope to first time buyers today by offering a 90% LTV mortgage product.

If other lenders follow suit we could see the banks making a concerted effort to use mortgages as a tool to make property ownership for career-minded new City employees more attainable.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article7038538.ece

banks, Careers, london job market, mortgage, tax jobs

What do the latest CIOT chartered tax advisor exam results tell us about the tax recruitment market coming into 2010?   With over twice the amount of people taking the exams being admitted to the institute than at the May 2009 sitting, what does this mean for the successful candidates and for those who haven’t passed? 

We have seen the in-house tax market pick up since Q3 2009, within banking and financial services in particular, although we’ve seen recruitment across a broad range of sectors.  We’ve also seen the ‘Big Four’ start to hire again into corporate tax teams in Q4 09.   There have been fewer redundancies during the same period and we have less people looking for jobs in tax who have been affected by redundancies which all indicates that the market is moving in the right direction. 

For people who have just passed their CTA, this is often seen traditionally as a career crossroads.  There are some good opportunities on the market but the best place to explore initially is at your own firm.   Will you get a pay rise or a promotion now that you have passed?  What options are available for you as an existing employee with a new qualification?   The external market is always worth exploring,  if only to benchmark your own package.

What if you haven’t passed?  My team have spoken to several people who haven’t passed their exams and none of these have had their contracts terminated by their employers (so far).   If this is widespread, then this is good news, as it will be yet another sign that confidence in the tax market is improving.

CIOT chartered tax, Commerce and Industry, CTA results, exams, Financial Services, tax jobs