In Summary - Taxation Consultant
Taxation Consultants typically work in the following Career Sectors:
Videos & Interviews
Sinead Lew, Senior Tax Manager
Sinead Lew works as a Tax Manager in the Domestic & International Outbound Market group in PwC. She completed a Degree in Accounting and HR at the National College of Ireland (NCI). She then went on to study a Masters in Accounting at Smurfit Business School. Sinead is also a Chartered Tax Adviser (CTA).
Lorcan Kelly, Tax Consultant
Lorcan Kelly is a Tax Consultant with Irish Distillers Pernod Ricard. He studied Commerce and French in NUIG and also completed a Masters in Accounting. Lorcan is responsible for managing the Corporate Tax and VAT obligations of the group, as well as its domestic and international tax strategy and planning.
Videos on the Web
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The Work - Taxation Consultant
Taxation Advisers are involved in all aspects of tax work. Their duties range from preparing tax returns for clients (both personal and corporate) and agreeing tax liabilities with the Revenue Commissioners, to advising on the tax implications and structuring of major commercial deals. A keen commercial awareness is a considerable advantage to an aspiring Tax Adviser.
Taxation has now attained the status of a profession unit on its own right. This is largely due to the work of the Institute of Taxation in establishing a system of professional examinations.
A person who passes the Institute of Taxation examinations is qualified as a Tax Adviser and this qualification is recognised by the state and the European Commission, thus, enabling Institute members to practise both in Ireland and in other EU member states, on meeting certain criteria.
It is expected that the demand for taxation expertise will continue to grow and provide very worthwhile career opportunities for individuals trained in taxation. Recent developments include the specialisation of individuals or teams within a tax department to deal with the taxation of particular industries (such as the computer industry, construction industry, etc) or specific areas of taxation - for example, international tax and corporate tax.
The advent of self-assessment and the on-going harmonisation of European taxation systems have increased the need for taxation specialists.
Typical work duties include:
- Researching, analysing and interpreting changing tax legislation.
- Meeting with clients and collating information
- Working with tax law and revenue provisions
- Preparing and submitting compliance (tax) returns.
The Institute of Taxation in Ireland
The Institute of Taxation in Ireland is a corporate body limited by guarantee. Its members are persons specialising in taxation practice or professionally interested in the study of fiscal legislation or in the administration and practice of taxation. The institute aims to facilitate the exchange of information and views on fiscal legislation, taxation and related matters and to create a well-informed public opinion on the subject.
The Institute provides opportunities (through seminars and other events) for the acquisition
Most commonly reported Work Tasks
- Interview clients to obtain additional information on taxable income and deductible expenses and allowances.
- Use all appropriate adjustments, deductions, and credits to keep clients' taxes to a minimum.
- Prepare or assist in preparing simple to complex tax returns for individuals or small businesses.
- Compute taxes owed or overpaid, using adding machines or personal computers, and complete entries on forms, following tax form instructions and tax tables.
- Furnish taxpayers with sufficient information and advice to ensure correct tax form completion.
- Check data input or verify totals on forms prepared by others to detect errors in arithmetic, data entry, or procedures.
- Consult tax law handbooks or bulletins to determine procedures for preparation of atypical returns.
- Calculate form preparation fees according to return complexity and processing time required.
- Answer questions and provide future tax planning to clients.
- Review financial records such as income statements and documentation of expenditures to determine forms needed to prepare tax returns.
Most commonly reported Work Activities
- Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
- Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Updating and Using Relevant Knowledge Keeping up-to-date technically and applying new knowledge to your job.
- Processing Information Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Performing for or Working Directly with the Public Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
- Documenting/Recording Information Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
- Establishing and Maintaining Interpersonal Relationships Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Evaluating Information to Determine Compliance with Standards Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
- Analyzing Data or Information Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Organizing, Planning, and Prioritizing Work Developing specific goals and plans to prioritize, organize, and accomplish your work.
Interests - Taxation Consultant
This occupation is typically suited for people with the following Career Interests:
Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.
They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.
Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.
Tax advisers must keep up with changes in tax legislation. You must be able to explain complicated issues such as tax law in simple terms. Sometimes this involves analysing large amounts of information. Tax advisers must also be highly numerate. You'll need a broad understanding of the business world, an analytical mind and a methodical way of working.
Good communication skills both written and oral are a desirable feature as is the ability to explain complicated matters in simplified terms. Negotiation skills are also desirable in a tax adviser.
Entry Requirements - Taxation Consultant
Pay & Salary - Taxation Consultant
Salary Range (thousands per year)* 25k - 63k
Last Updated: March, 2017
* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.
Labour Market Updates - Taxation Consultant
Employment growth was low for this occupation group, and, indeed, declined in the most recent year. Although they feature in the vacancy data, the recent job hires analysis indicates that churn is a significant factor in these openings. Declines in employment levels are expected to continue as some tasks become automated, although replacement demand for such a large occupation will continue to translate into job opportunities.
National Skills Bulletin 2018