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As a professional in tax practice, you may be curious about a career in tax industry. Perhaps you have friends or colleagues who have made the move to industry, or you may have worked with tax industry teams as an advisor – but what does a typical day-to-day look like?
Firstly, no two roles are the same. Your daily working life in tax industry will be dictated by a lot of different factors, so it’s important to look at the bigger picture when considering a role in industry!
Here are a few things to consider if you are exploring your career potential in tax industry:
Type of company
Different industries will have varying tax considerations. As an advisor in tax practice, you will likely have exposure to a variety of industries. Working in tax industry, your advisory exposure will be tailored to the industry you’re in – i.e. aircraft leasing, pharmaceuticals, technology, etc.
Stage of business life cycle
Is this a start-up business? Is it a highly acquisitive business? Or is this a well-established business? Whatever stage the business is at, it will have a strong knock-on effect on the type of tax matters you may be exposed to – nearly every business decision has a tax effect.
Size of tax team
Tax teams vary in size from company to company. Some teams are quite small with 1-3 professionals, others may be well established with up to 20 professionals. The bigger the tax team the more specialised your role is likely to be.
How much work is outsourced
The reliance on advisors will give you a strong indication of what your day-to-day may look like. If the corporate tax returns are prepared in-house, it’s likely your role may be compliance-driven. If the advisors prepare the corporate tax returns, there may be more scope for you to get involved in advisory projects.
Remember, every role offers unique challenges and opportunities for growth. Whether you’re drawn to the fast-paced world of startups or the strategic complexities of established corporations, tax provides a diverse range of career paths. By understanding the nuances of different roles and company structures, you can make an informed decision about your next career move.
More about Aoibhín…
Aoibhín Byrne is Business Lead of the Tax, Treasury & Practice division within Barden’s talent advisory and recruitment firm in Leinster. In this capacity, she specialises in guiding individuals through career transitions within the fields of tax, treasury, audit, and advisory, spanning both practice and industry sectors. Connect with Aoibhín on LinkedIn or at aoibhin.byrne@barden.ie