Have a bit of a decision to make and need some advice....
I currently work in practice but am starting to get extremely disillusioned and unhappy where I am and have an opportunity to move into a pretty interesting in house tax role.
I have a PC for ACCA and am a member of CIOT. The practice I am currently employed by have started to discuss partnership but for a whole variety of reasons I am not keen!! Awful lot of nepotism and I feel that I will be supporting some pretty uninspiring family members in my later years if I commit!
On the whole I enjoy practice and the other option I am considering is starting up on my own, I have a fair few 'private' clients and I know that a number of the clients in my current firm will gradually migrate over. I know that morally this is not great but I have built up very good relationships with the clients and have gone 'above and beyond' for them over the years.
I also have some very good relationships with solicitors and IFA's who pass on leads to me, however they do not like the partners in my current firm and I know if I went on my own these leads would increase.
Has anyone else made the move from practice to an in house tax role and what has your experience been!?
Also, what are your views on earning potential? I have a feeling that I will earn more initially if I make the move (salary would almost double) but long term I think I would earn more in private practice. pension/benefits etc will go some way to making up for the salary gap I suppose.
My other concern is that 'the good life' once enjoyed by accountants in small and medium firms may be coming to an end. 80% of clients are constantly asking for reduced fees and taking 60+ days to pay. Is this typical!? It may be down to the way the practice I am employed by in run, all very old fashioned.
I understand that its a long question but I have been going over and over it and need a bit of advice really........everyone I have spoken to about have no real understanding of the differences.
Thanks in advance