ONCE YOU HAVE QUALIFIED....WHAT NEXT....TAX ?

LIVE THE DREAM!!

So... you have completed your ACA or ACCA training and qualified and trained in Public Practice; what do you do now? There are a number of options available in terms of the career path you can now take but you may also find that the options available will depend on your experience gained through training.

Typical career paths include:

• Audit and Assurance 
• General Practice
• Corporate Finance
• Business Advisory
• Taxation
• Insolvency / Business Recovery
• Forensics

 In this edition we will focus on Taxation.

Taxation usually encompasses the following areas:

•      Corporate
•      Personal
•      Indirect Tax (e.g VAT and Excise Duties) 
•      Employment tax
•      Capital Gains Tax, Inheritance, trusts and estates.
•      Overseas
•      Forensics (Providing expert opinion and services to attorneys, businesses and government agencies)

This wide reach of taxation means that usually you will choose to specialise in one or two of the above areas rather than attempt to be an expert in all disciplines. This will also primarily depend on who you are employed by; a larger firm will usually have specialist departments dedicated to one area, whereas the smaller independent firm will usually have a generalist able to assist with corporate and personal tax as well as VAT, however more technical issues involving trusts, estates, international taxes and investigations etc will be dealt with by a consultant or by a larger firm. 

The Chartered Institute of Taxation (CIOT) 

The CIOT is the senior professional body in the UK concerned solely with all aspects of taxation. It maintains standards, organises training conferences, lobbies for the improvement and simplification of tax law, and makes recommendations to the Government.

Routes to a career in Tax will usually either be as a tax trainee completing the ATT then CIOT exams, or following completion of a professional qualification in Accountancy or Law, the CIOT exams can then be taken.

Follow this link to the CIOT Website which will give you loads of background information and in particular explain the eligibility requirements to register for the exams http://bit.ly/2t1SHf2 and you can also see details on the syllabus http://bit.ly/2ssM9Jt 

So What do you do next?

If you have trained in Practice and have had some exposure to taxation and interested in exploring the possibility of pursuing a career in tax and want some advice please contact us at Wavelength through our website at www.waverecruit.com

In times of uncertainty changing your job can still be achieved and here's how.

In times of uncertainty as we are currently with Brexit, North Korea, who can rightfully claim  victory in the General Election and what will that mean to the economy and are we actually going to have a Summer this year, it can be perceived it is the wrong time to change jobs. This can be true in some circumstances but if carefully managed a career change can be achieved at any time.  The key is to ensure the best match is made and all the necessary research is completed before committing to the move.

One of the most important decisions will be how you are going to go about it. Will you go it alone, pitching your CV onto a series of public job boards, a quick update of your linkedin profile and then hope for the best? Or do you enlist the expertise of a recruitment consultant?(That's where we come in).

“Bit old fashioned? Surely it’s all about technology/social media/online presence...?” Well no, it most definitely isn’t.  Not if you choose well.  Just like the recent trend for retro, vintage niche, bespoke products, their appeal is not just aesthetic, it’s about discretion, individuality, specialist knowledge, attention to detail, exceptional service levels, personal tailored offerings.

That, right there, is exactly what the right recruitment consultant should be providing. (Again...which is where we come in).   

Choose well and your consultant with help you to secure the perfect role without broadcasting your personal details across the market, they will help you to identify exactly what you need and help you to secure the role that matches with your short and long term aspirations.  They will know which firms match your personality, which firms you will work best with and weed out those that don’t.

So if you’re considering a move, keep your approach exclusive and discerning, take your time and enlist an expert and the climate of uncertainty should only be the smallest part of the decision making process.

At Wavelength we specialise in providing accountancy staff to Professional firms of Accountants, from trainee to direct Partner entry. As Public Practice recruitment specialists we recruit for any size of firm, from the sole trader and small partnership to the middle and top tier firms. We match the candidate to the client and the client to the candidate. 

At Wavelength your time will not be wasted!! www.waverecruit.com

What is the purpose of LinkedIn?? Networking or headhunt tool?

Time to be a bit contentious but I am interested to see how others view the use of LinkedIn. We all get the updates through telling us that our profile has been viewed and how powerful our respective profiles can make us. We get an email through exclaiming..... "See how well your profile stands out from the crowd. A profile view from the right person is a step closer to your next career move."

My understanding of the whole point of LinkedIn was that it would be a networking tool rather than a candidate database making you easy prey for the "head-hunters" out there, though the term "headunter " should be used loosely!! The idea I thought was that LinkedIn would make it easier for businesses to network with each other and cross sell services to help develop business and therefore the economy as a whole  rather than a good way to get rid of all your employees and encourage businesses to suffer....and therefore the economy as a whole.

So the question is, are you (The LinkedIn user....and likely to be a business owner or manager of people ) happy that all your staff are on LinkedIn apparently for the purpose of standing out to bring their next career move closer and to encourage being headhunted? (Even those that just joined you 2 weeks ago...I have seriously known that to happen to a candidate we placed in a new position).

Clearly I only posted this  so a headhunter might spot it, be suitably impressed and offer me a pot of gold at the end of the rainbow. Watch this space for an update.

So...you are interviewing and have met the "right" one for the job....

How to ensure your top candidates stay interested

It’s one thing finding the best candidates for your latest position but how do you keep them interested after the interview especially as they are the first one you have met but you have decided from the outset that you "need" to meet 5 applicants to have a good comparison.

This is a modern day dilemma that seems to be on the rise, you like what you see and want to offer them the job but you have already committed to the process, though it is annoying that one of the other applicants has just gone off on a 2 week holiday!!

To keep candidates interested throughout the process they need to be kept engaged and informed and the process needs to be fluid.

When using a reputable agency and by establishing a close relationship with that agency you can work together to make sure this all flows smoothly and everyone is kept in the loop.

Here we look at some of the best ways to minimise the risk of having problems with your process in the future.

Collection of data

Even before the interview, you can put your candidates off by almost forcing them to fill in lengthy application forms that duplicate much of the detail that they’ve included on their CVs. Take a closer look at these forms and ask yourself how you would feel when asked to duplicate the data required?  These are still considered to be a great way to gather relevant information about your prospective employees but try not to pack in too many questions because you could be losing some very good candidates this way.

Candidate selection for interview

First of all you don't need to have a nice rounded number of applicants to interview. In our experience at Wavelength as long as you make sure you are interviewing candidates from the right background with the right experience then you don't need to interview to just make up the numbers, which will allow you to make an informed decision much more quickly; than having to wait for the applicant who has disappeared off on their hols to return.

 

Post interview behaviour

Nobody likes to be kept in limbo after a job interview and this is why even the most promising candidates may start looking elsewhere. Ensure that this doesn’t happen to you by sending out an email to the applicant or to their agency as soon as you can. You don’t have to promise them anything but by keeping them in the loop you should be able to retain their interest long enough to make a decision. The same goes for the initial job application; it doesn’t take long but will decrease the chances of those top drawer candidates becoming restless.

Offering the job

Although you may be of the mindset that once you make the offer, they will find it hard to refuse, that simply is not the case anymore. Not only should you offer them a fair salary but you also need to be able to answer any questions with regards to a promising career path. It may be possible that they have received other offers and if you bear this in mind, try to remain competitive at all times. You should also remember that they are allowed to take their time when deciding on your offer and always avoid rushing them because this can quite often come across as desperate.

If you have the right candidate for your latest vacancy, follow these tips and you have a great chance of making them an offer that they will accept. Always remain honest and transparent throughout the whole process and remember that courtesy is key when communicating with all of your candidates.....and with your chosen Agency.

You can find us at Wavelength - the Public Practice Recruitment Specialists!!

Planning Your Accountancy Career in Public Practice......Keeping a Step Ahead..

Taking control of your career progression should not be taken lightly and is something you should plan for. There are always going to be exceptions to this rule when control is taken out of your hands, the most obvious one being unexpected redundancy which for most is not part of their plan.

You should take steps to know which direction you are going in through appraisals with your current employer, or if you need to look externally, establish a firm relationship with a Recruitment Consultant with a particular knowledge and expertise of your market and career options.


During the recession, as you would expect, recruitment was not at the top of the list for many Firms of Accountants but things have now changed where the demand for experienced candidates is high but the pool of available candidates is small. 

The problem that active or passive job seekers now face is the pressure of deciding which opportunity is right for them without it being a knee jerk reaction to for example either having passed your exams, or not being happy with the latest salary review. While at the same time you are potentially caught off guard by an unsolicited headhunt call from somebody who found your details on LinkedIn and out of the blue they claim to have the "ideal" job for you, without really having any idea as to who you are and what would be best for your career.  

The best plan for your career is to plan for it.

This is where your choice of recruitment consultant is vital in providing the advice and market knowledge you need to make an informed plan.  At this point it would be useful for our consultants at Wavelength to meet with you, to form that relationship and allow us to be a step ahead of the market by proactively working on your behalf so we can then make you aware of the type of opportunity that would interest you. 

The way we work at Wavelength will ensure your details are kept confidential until such time that you agree to be put forward for a specific role.  If you sign up to the way we work there is no need for you to then approach other recruitment agencies.  Where possible and if not too late we do ask candidates to consider dealing with Wavelength exclusively rather than getting other agencies involved, as this can sometimes compromise your own position when agencies get into a CV race rather than listening to what you are actually looking for.

At Wavelength  we are dealing with a number of  Career Opportunities
but we don't just fill vacancies. One of our strong points over the years has been the ability to source the right opportunity for candidates  rather than shoehorn them into one we are having difficulty filling.The other side to that equation is that our clients are getting the right candidates for their roles; so everybody is happy.

So......... if you are somebody with experience gained from working within Public Practice and interested in taking steps to plan for your career progression within Practice, we are here to help. We will advise, counsel and help you take the next progressive step in your career. 

We look forward to hearing from you.

ONCE YOU HAVE QUALIFIED....WHAT NEXT......?

LIVE THE DREAM!!

OK you have completed your ACA or ACCA training and qualified and trained in Public Practice; what do you do now? There are a number of options available in terms of the career path you can now take but you may also find that the options available will depend on your experience gained through training.

Typical career paths include:

• Audit and Assurance 
• General Practice
• Corporate Finance
• Business Advisory
• Tax
• Insolvency / Business Recovery
• Forensics

 In this edition we will focus on Audit and Assurance.

Audit and Assurance

Experience gained within Audit and Assurance will have provided exposure to dealing with statutory and non-statutory audits for companies ranging from the small to the very large multinational. This experience will provide an excellent foundation for future career progression either by remaining focused on an Audit career within a firm of Accountants or to use that experience and move into another specialist field.

If you remain within Audit after qualification this can provide clear progression with a possible route to Partnership. This is a popular choice for Newly Qualifieds who remain with their Training firm and may have already been fast tracked in their career.

For those who have trained with smaller firms there is a demand from the larger firms provided the audit experience gained is significant either in terms of client size or frequency of audit assignments. Moving to a much larger firm will provide exposure to a much larger and in some cases more complex client base and develop your reporting and technical ability. 

A career in Audit and Assurance will develop your skills in key areas and provide a platform for the future. You will develop your client and staff management skills as well as expertise which is specific to the Industry sectors you have been exposed to.  

With audit threshold changes in recent years this has reduced the number of audits required by companies which has had a knock on effect on the audit exposure given to trainees by firms of accountants. For anyone who finds themselves in this position the other career options bullet pointed at the top of this article are still available but if you are interested in securing a new role in audit after qualifying there are plenty of opportunities in the market. 

Visit our website to see a range of Public Practice career opportunties all providing audit exposure; for some examples click the links below. They vary from newly qualified roles to opportunities requiring more experience:

Top 10 Audit Senior  - Peterborough c£32K - £38K

Top 10 Audit Senior - Northampton c£34K - £36K

Top 10 Audit Manager  - Milton Keynesc£55K - £60K


ACA / ACCA Qualified Manager - Milton Keynes c£45K - £50K

Audit and Accounts Senior - Kettering c£30K - £38K

Newly Qualified Audit Senior - Milton Keynes c£35K - £38K

If any of the above opportunities or others on our website at www.waverecruit.com are of interest, please contact us at Wavelength to discuss further or contact us if you simply want some career advice; we will be pleased to help.  

www.waverecruit.com

The Public Practice Specialist

#PublicPracticeJobs

NOW IS A GOOD TIME TO CONSIDER PARTNERSHIP PROSPECTS!!

When the recession kicked in the uncertainty that was created meant a lot of accountancy firms either put their succession plans on hold or the owners worried they wouldn't get a chance to have one if the business went under.

A number of years further on and  there are still a number of established accountancy firms across the region who do not have anybody coming through to enable the owners to exit over the next 5 - 10 years. This has been caused by a reluctance to recruit and train during the recession and a reluctance of experienced professionals in a managerial position to move on which in turn restricted the development of qualified staff coming through and so the cycle went on. We were in an era of postponed promotions, expansions, retirements etc.

For the ambitious aspiring qualified accountant there are now opportunities to join firms as part of firms' succession plans and secure a financially and career rewarding opportunity. This is never something to rush into on either side and as much as the economic circumstances impact on the decision making, it is still important to remember the timescales you may have to work to, especially if the plan is working towards a retirement or a fixed date of exit. 

When joining a firm you need to give yourself time to work alongside the exiting partner  so you gain the respect and understanding of the clients you are going to be taking over. You will need a couple of years to bed in, build relationships with clients and staff alike; you may also need business development experience or need to build a portfolio and this will take time. 

There are different ways of buying into a firm and the expectations of the exiting partners will vary from firm to firm but it is likely you will need the time to buy in or raise funds, so with all this in mind you would really need to be planning for this type of opportunity now if you expect to become a partner in the next 3-5 years.

At Wavelength we've had many years experience in the accountancy recruitment market recruiting for practices large and small at all levels and have introduced many candidates looking for prospects for progression from aspiring managers through to partners with fee following, even during the toughest recession.  

As the market improves competition for these roles will increase and you need to be made aware when such an opportunity presents itself to the market and is relevant to your skills set and aspirations. Roles will vary and may be specialist e.g. in Audit or Tax or may be more General, it is during these times you need a consultancy you can trust to be technically aware, skilled at recruitment, have strong market knowledge and be honest and unbiased.

Examples of current roles we are recruiting for at Partnership level include:

ACA qualified with client following
http://bit.ly/2cokm2c

Partnership Prospects ACA/ACCA Qualified Manager

http://bit.ly/2rqKlvE

ACA/ACCA Qualified Senior/Manager with a small firm

http://bit.ly/2phJFZV


For other opportunities at all levels follow this link http://www.waverecruit.com/jobs.asp

At Wavelength we don't just fill vacancies we will find the right opportunity  for you and let you know when it surfaces.

So start the search at the earliest opportunity and choose your recruitment agent wisely to identify what will be a career enhancing appointment for you.