Making Tax Digital increasing opportunities for tax specialists
The transition to processing tax returns digitally will lead to exciting new opportunities for tax professionals. As new digital tax methods emerge and evolve, those specialists with technological expertise will find themselves with a significant advantage in the recruiting process.
Making tax digital will ultimately reduce operating costs for firms and deliver increased rates of compliance, leading to financial gains for firms. The subsequent growth in profit for firms will increase the value of tax specialists, making such roles more lucrative. Additionally, national treasuries will benefit as they seek to close tax-gaps.
ambitious expats at an advantage due to digital tax
In one of our previous articles, Making Tax Digital: UK Update, we mentioned that the UK has been pioneering the transition to making tax digital. However, it is only a matter of time before this process is being mirrored across the world, with countries eagerly watching the UK’s progress.
UK based professionals will have a distinct advantage when applying for lucrative positions overseas, with expertise in the new digital tax technologies and programmes becoming an increasingly valuable commodity for employers and firms. We have already witnessed a trend where tax specialists are dispatched to other countries to work with assigned teams, then return to their home countries with their new expertise and experience to train colleagues at home.
Kingpin advises professionals to get on board with digital TAX
As tax recruitment specialists, Kingpin naturally recommends that our candidates add as many strings to their bow as possible. In this context, we advise candidates to expose themselves to digital tax as often as they can. One example of where this can be done is in the field of data analytics. Companies are investing heavily in analytics and they will seek professionals with experience in that field to keep up to date with he current and upcoming digital tax trends.
The transition process continues and will expand globally. Implementation of new digital tax systems will become commonplace for over a period of time. Subsequently, tax specialists will find it advantageous not merely to know how to use the technology, but knowledge of implementing the technology will prove especially lucrative.
We would advise candidates to immerse and familiarise themselves in the implementation process. Attending workshops and seminars and seeking out training opportunities will improve your professional skills, making you highly sought after in a rapidly changing digital tax landscape.
How does making tax digital affect junior professionals
Junior professionals should think carefully about the skills that will make them stand out in the recruitment process – and they are in a great position to expand their knowledge, in tandem with the evolution of digital tax technology. They should move into the tax industry as early as possible and seek employment which offers possibilities of career progression, as companies move towards in-house promotion. Companies should take this into consideration as we expect to see tech-savvy young workers gravitating to those companies which adapt best to the innovative new technology.
Here at Kingpin, we will endeavour to keep up to date with this important process. This will allow us to give the best advice to our candidates as they look to advance their career and expand their potential.
If you would like to speak with Kingpin International about our tax job opportunities from around the globe, then please contact a member of the team at firstname.lastname@example.org. Alternatively, please browse our current international tax vacancies.