Advice needed re Tax jobs - ACA/AITI with no experience

googles15

Hi all,

I'm just hoping for some advice from those of you in the know about the taxation sector.
I'm newly ACA qualified, not practice trained and am currently doing AITI exams, having just passed Part 2 .
I'm out of contract now and am not sure what to do next. I would like to work in tax but as I have no experience in either tax or in an accounts practice, does this mean I will have to start at the bottom of the ladder again, despite being a qualified accountant and doing the tax exams? Is it a waste of time? I don't mind taking a cut in salary temporarily but I would like to know what opportunities are out there - would I have to start as a tax trainee again as if I was a graduate fresh out of college? And if I do take a cut, how long does it take for salary to go up? It's just that every tax job I see advertised looks for some sort of experience, and I have none.

I don't know anyone in the tax industry to seek advice from so I'm here hoping for some guidance. Is there much demand at the moment for tax people?

Thanks all in advance!

pigeonbutler

Is the firm you trained with an option for moving into their tax practice?

I'm in a big 4 firm tax practice and I've seen people transfer in from ABAS and they start off doing same work as people starting off but are expected to learn a lot quicker and get more responsibility sooner. As far as money is concerned I think they take a pay freeze for a few years until they've gotten up to the equivalent level of what they were at in Audit. Don't know what the story is for outside people coming in.

smcgiff

pigeonbutler wrote: »

Is the firm you trained with an option for moving into their tax practice?

Think he only has industry experience.

I imagine it would be quite irregular for someone to qualify as an accountant in industry and go back to practice - tax or otherwise. I imagine you will get more than a raw trainee, but not much more as it is practicle experience that is most important to an employer.

googles15

Thanks for the replies so far!
Yeah pb, I trained in industry - public sector actually which makes things worse! smcgiff - I was expecting that answer!! I hate the thought of being a trainee again after all those years of training and exams - but obviously I know that I'd be like a trainee to an employer given I've no tax experience. So do you think it would be a difficult move to make, if if I had both qualifications behind me, to try and specialise in tax?

Fruiti

I work in a Big 4 tax practice and have seen several people come in at Senior level - i.e. the level a trainee would reach after 2/3 years, without any tax exams, i.e. they're qualified accountants but are starting Part 2. The fact that you have part 2 already would be a big plus and if you got into a tax practice they'd give you up to 5 weeks study leave for part 3 (badly needed as they're horrific!). So clearly, having no experience you'd need at least 2 years before you could get promoted but assuming you pass part 3 first time, you'd be qualified within 1 year. I obviously don't know what level your salary is at now but you certainly wouldn't have to start on a graduate salary (in my firm anyway). I would imagine you'd be paid the equivalent of a newly qualified ACA - between 40-50k possibly slightly less as you didn't train in practice.

EAS45

I was thinking of signing up to do AITI part 2 in the autumn. Could anyone advise ass to how much time you would need to take off work as my work will not be too forthcoming with any study days and it might not be worthwhile spending time and money if I cannot devote the requiste time?

Also are part 2 really as difficult as people make out or are they ok provided you work a little at them. When people describe them as the hardest exams you can do, are they referring to part 3 rather than part 2?

Any advice would be appreciated! Thanks