Tax advisor

Tax advisors provide advice on taxation issues to companies and individuals. They look at a client’s financial circumstances, work out the correct level of tax and look for legal ways to reduce their tax bill. They prepare tax returns and liaise with HM Revenue & Customs on behalf of their client.

Also known as

Financial consultant – tax

Work activities

Tax advisors provide advice to individuals and companies on tax-related issues. They keep up to date with changes in tax legislation and explain these laws and complicated tax systems to clients. They also prepare tax returns and calculate correct levels to pay to HM Revenue & Customs after looking at a client’s financial circumstances. They advise on legal ways of reducing tax bills and liaise and negotiate with the tax authorities on a client’s behalf. Tax advisors also analyse detailed financial accounts and examine the general financial dealings of clients. They offer advice on the tax implications of financial planning, strategy or business transactions such as company reorganisations and mergers. They might assess international tax for companies that trade with organisations in other countries. Some tax advisors specialise in areas such as inheritance tax or employment tax, or in advising clients on how to plan for and manage their VAT or Customs duties.

Personal qualities and skills

As a tax advisor, you’ll need to:

Be able to explain complicated issues (such as tax law) in simple terms.
Understand and analyse large amounts of information.
Be organised and logical.
Enjoy solving problems.
Have a high level of numeracy.
Have IT skills.
Be tactful and diplomatic.
Have a broad understanding of the business world.
Work well in a team.

Pay and opportunities

The pay rates given are approximate. Tax advisors start on around £22,000, rising to up to £60,000 per year. Salaries might be increased by profit-related bonuses.

Tax advisors usually work 38-40 hours, Monday to Friday. However, they might need to work late/weekends at peak times, for example, at year-end.

Employers include firms of accountants or solicitors, or specialist tax consultancies. Clearing banks and in-house taxation departments of large multinational companies also employ tax advisors. Opportunities for tax advisors occur in towns and cities throughout the UK, and with large organisations in major financial centres, such as London, Edinburgh and Glasgow.

Self-employment opportunities occur for tax advisors to become self-employed.

Where are vacancies advertised?

Vacancies are advertised in the following places:

Local/national newspapers.
Employers’ websites.
The Government’s Find a Job service
Job boards.

Entry routes and training

Entry is possible by obtaining a trainee position in a tax firm. Some people enter with A-levels, but most trainees have a degree or HND, often in a subject such as business, finance, accountancy or economics. Foundation degrees are available in business and finance subjects. It is also possible to enter the profession as a qualified accountant or solicitor. A level 7 (degree) apprenticeship in the role of accountancy or taxation professional is also a great place to start.

Trainees with GCSEs, A-levels, an HND or a degree normally first study for the Association of Taxation Technicians (ATT) exams. Further study for the Chartered Institute of Taxation (CIOT) professional examination leads to qualification as a chartered tax advisor.

People who enter the profession as a qualified accountant or solicitor can register directly for the CIOT professional exams and might be granted exemption from one or more exam papers. Some university degree courses also allow for direct registration with the CIOT, as do certain training contracts with approved companies. Some other qualifications also provide for direct registration with the CIOT; see their website for further details.

Tax advisors can progress to senior, manager, director or partner positions. Some tax advisors become self-employed or start their own consultancy business.

Qualifications

To register as a student with the Association of Taxation Technicians (ATT), the minimum requirement is a reasonable standard of English and maths. It’s common to enter as a trainee with A-levels or higher education (HE) qualifications such as a degree. For entry to a degree course in any subject, the usual requirement is:

Two to three A-levels.
GCSEs at grades 9-4 in two to three other subjects.
English and maths at GCSE at grades 9-4.

Alternatives to A-levels include:

Edexcel (BTEC) level 3 National qualifications
International Baccalaureate (IB) diploma.

Always check a specialist source for up-to-date information about courses and entry requirements.

For a degree apprenticeships, you will need at least two A-levels/equivalent plus GCSEs in maths and English.

Adult opportunities

Age limits: It is illegal for any organisation to set age limits for entry to employment, education or training, unless they can show there is a real need to have these limits.

Many applicants have a professional background in accountancy, finance or law. All entrants registering as students of the Association of Taxation Technicians (ATT) need a reasonable standard of maths and English. You can apply for an apprenticeship at any age.

If you don’t have the qualifications needed to enter your chosen degree or HND course, a college or university Access course (for example, Access to Business) could be the way in. No qualifications are usually needed, but you should check this with individual colleges. Relevant degrees include accounting, economics, law and business- or finance-related subjects.

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