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Recruitment: It’s only just begun

21 June 2019
Categories: Comment & Analysis
You think the tax exams were hard, says Kerry McLaughlin. In fact they were just the beginning.

Achieving a tax qualification is admirable, especially when you have to juggle working life with study. When I studied for my CTA, I was lucky enough to be shipped off to college for ten weeks to learn the syllabus and then take the exams. Thankfully I passed - I am not sure how I would have performed had I not had that luxury.

But what are the benefits of achieving a professional tax qualification and what else should you consider to progress your career?

At a meeting with the CIOT, the question was posed whether the CTA qualification is still held in high regard in the market. I explained that, given the complexity of the syllabus and expectations of students in the exam, the CTA qualification continues to be prestigious, and is one that hiring managers and their clients see value in. The ACA and CTA qualifications are recognised not only in the tax industry; clients are impressed and find comfort in their tax affairs being handled by a qualified chartered tax professional. With the spotlight on tax planning and tax avoidance higher than ever and expected to increase, clients need reassurance that their tax planning is in the hands of a professional who is not just technically able under the seal of CIOT approval, but also upholds the guidelines set by the institute and adheres to the Professional Conduct in Relation to Taxation. 

What next?

Having been been a tax professional and a tax recruiter for several years, I can confidently say that after achieving your qualification, there is a lot of opportunity available. Further, it is natural to consider the options after passing this hurdle.

At this point, you are likely to be vital to the delivery of services to clients and are at the optimum stage in your career to learn and be receptive to change. Moving up to becoming a rounded and proactive adviser, as opposed to a reactive delivery adviser can be challenging. How is this done and what factors should be considered?

Having a qualification is a seal of approval that you are capable technically. But other factors, such as soft skills, are required. 

It’s not just the qualification

Hiring managers regularly request soft skills from a prospective employee. It is clear that these as well as technical ability will assist in developing a career to its highest level.

Technical skills can be taught and acquired with hard work and determination. Soft skills require more than reading an article like this one, and some people find them far more natural to possess than others. 

Personal branding

I never understood the importance and effectiveness of personal branding until one of the partners for whom I worked for a few years ago discussed this with me. Your biggest selling tool, whether it is in your personal or professional life, is your brand. What do you stand for, what do you want to achieve and how can you do this? Everything you do from communicating, social networking, and your personal appearance create your personal brand. It requires you to re-evaluate yourself, listen to your peers, work with different people to understand different styles, which in turn will challenge you and assist in formulating your brand.

In the professional world more emphasis is placed on understanding an individual, buying into what they can offer and what they stand for – such as being an ethical tax advisor -  so take the time to consider your brand and continue to refine it. 

Network effectively

There are many forms of networking but most common - and easiest - is online networking. LinkedIn is probably the most dominant social media networking channel for working professionals, so having a relevant and up-to-date profile, with a photo that reflects your brand, and an explanation of your skills is paramount. It is also worth joining relevant groups, writing blogs in areas of interest, and participating in group discussions. Together this will improve your personal brand and enhance your reputation.

Networking in person is extremely powerful when you get it right. Anyone can ‘hi’ to a peer, but to be effective takes more than that. An effective networker does not just listen, but understands what they are being told, asks intelligent questions and thinks of ways this new contact can assist them in a personal capacity, or their business and vice versa. And be sure to follow up to give a lasting impression. 

Commercial mind-set

For years, the commercial people in a business were typically the partners or heads of tax, but that expectation has been pushed down the food chain. The landscape of the tax adviser has changed and requires far more than sound technical ability. Today, more employees are looking for and expecting their tax advisers to have business – even global - acumen.

It is also important to take the time to understand the client’s business strategy and targets; this is true both for client facing and in-house professionals. By doing so, you will provide consultative, excellent quality advice that will allow you potentially to future proof your clients tax requirements.

An obvious way to provide a top quality service is to cross-sell using colleagues to find other areas with which the client requires assistance. You are trained in a specific discipline - whether that is personal or indirect tax – but the savvy professionals will think about how they can cross-sell their businesses services to clients. This creates an excellent impression to the client showcasing a joined-up approach, but also to your employer, who will recognise you as someone who has created additional revenue.

It is important for newly qualified professionals to maintain your technical qualifications and levels of professionalism, but also to understand that the profession is constantly evolving. With changes in digitisation as well as the increasing importance of developing your personal brand, the role of the tax adviser will be focused on being a rounded business person with the technical skills and commerciality at the forefront of their decisions. 

Kerry McLaughlin is a senior consultant, personal tax and private client tax, at Morgan McKinley.

Categories: Comment & Analysis
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