Tax Accountant duties and responsibilities
Tax Accountants perform several tasks while helping clients with their tax affairs. Their duties and responsibilities typically include:
- Analysing client financial records for the last financial year
- Identifying potential tax deductions and savings clients have not considered
- Requesting additional information from clients for processing tax returns
- Advising clients about tax laws and how to meet requirements
- Completing and submitting tax returns on behalf of clients
- Liaising with HM Revenue & Customs (HMRC) on clients’ behalf to ensure it processes client returns efficiently and accurately
- Developing tax planning strategies to help clients secure their financial futures
Tax Accountant skills and qualifications
Tax Accountants need technical and interpersonal skills to effectively help their clients. A successful Tax Accountant candidate will have various prerequisite skills and qualifications that typically include:
- In-depth understanding of current tax laws, including laws about pay-as-you-earn, self-employment, business and investment taxes
- Math skills for calculating deductions and other tax calculations
- Strong verbal and written communication skills, including the ability to explain complex tax matters in accessible terms
- Problem-solving and analytical thinking skills to help clients legally maximise their returns and reduce tax burdens
- Organisation and multi-tasking skills for working on several clients’ tax returns at once
- Computer and online literacy, including confidence using accounting software and the HMRC online portal
Tax Accountant experience requirements
Accounting and finance firms usually prefer Tax Accountants who are familiar with processing tax returns. This experience may come from prior experience working as a specialised Tax Accountant or as a General Accountant. Some accounting firms also hire Tax Accountants with transferrable skills from other careers. For example, a Lawyer experienced in tax law could transition into a Tax Accountant role.
Tax Accountant education and training requirements
Tax accountants need at least an Association of Accounting Technicians (AAT) qualification, such as an AAT advanced diploma. Chartered Institute of Taxation (CIOT) qualifications are more advanced and desirable. However, many firms hire aspiring Tax Accountants before they achieve these qualifications and support them in their studies. Degrees in accountancy or mathematics are desirable. However, some firms accept any degree holders into graduate training programmes. People with good GCSEs and A levels can work as trainee Tax Accountants. A Level 4 Higher Apprenticeship in Professional Services (Tax) can also help people find work as a Tax Accountant.
Tax Accountant salary expectations
According to Indeed Salaries, the average salary for a Tax Accountant in the UK is £43,103 per year. Salaries vary according to experience, education, employer and their location.
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