Career advice required

Career advice required

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I've been working in practice for 10 years now and gained ACCA a few years back.  We are a small practice and the owner is rather stuck in his ways about how things are done.  Unfortunately, one of those things is that he likes to see every job through to the end - that includes taxation, meeting the client and all the correspondence with HMRC and so on.  He refuses to entertain the idea of networking the computers up so we can share the database and so on.  Fair enough, it is his practice.  However, this does not help me grow as an accountant.

So my options.  I did look at applying for jobs with larger firms a few years back.  I was offered one on lower money but two of them knocked me back and the feedback they gave me was my lack of tax experience.  So an option is to try again and just offer to work for a lower salary until I have the experience and have proven myself.

Option number two is to work for myself.  The problem with this is my lack of experience with taxation.  For that reason, I would be restricted to non complex jobs to start with until I felt confident enough to take bigger jobs on. 

Thoughts anyone?

Replies (3)

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By ShirleyM
13th Jun 2011 20:31

Have you discussed this with your employer?

Does he know you are interested in tax work? Explain the benefits ... someone to help out with the tax at peak times (eg. January). More opportunity for him to take time out from work. Better cover if he is ill, and someone just to share the load.

Is he getting on a bit? Ask what his exit plans are? There could be a good opportunity for you to continue the practice when he retires if you gain the relevant experience.

You must be fairly happy if you have been with the same practice for 10 years, so please explore the possibilities before you make a final decision, and find you have jumped from the frying pan into the fire. 

If you really must change employers you will find a small practice will give you a more varied experience than a larger practice, and the clients will be more typical of those you will deal with if you set up your own practice. But be warned, it is expensive for any employer to provide training, so they may want some guarantees that you will stay for a while.

If you decide to go it alone there is plenty of tax training available that you could maybe do, before you make the jump. Once you start your practice you can purchase general or specialist tax support, but funds are likely to be tight initially, but this is when support is most needed.

 

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By occca
14th Jun 2011 08:14

Do you have a practising certificate?

You say that you are ACCA qualified, do you have the ability to get a practising certificate so that you can go out on your own?

If you do, why not start taking on a few small clients and have a mentor who helps you with the tax side of things for a while until you are more confident 

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By Ray Koshy
22nd Jun 2011 14:41

RM Koshy

How about signing up with one of the professional bodies for tax, such as Association of Taxation Technicians.  This will give you a solid grounding in tax and give you more power to choose how your career develops.  Studying the subject could give you the understanding that you need to gain the experience in the field, perhaps even with your present employer.  If you ask me, and if you get the opportunity - training - even if this is a personal investment in terms of money, time and resources - is the way to go!

All the best. 

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