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With many returning to work in the office, and new patterns of working emerging across the employment landscape, the Director Team here at Pro-Recruitment Group are sharing their experiences and insights around the returning to work post COVID-19 Alison Humphries, Board Director, shares her experience of returning to the workplace after maternity leave, and rediscovering the unprecedented new ways of working. Alison: I am one of the owners of Pro-Recruitment, I have been in the business for 13 years and been in the working world for 20 years without ever really having time off. I went straight from education to work, even in my teen years I worked on weekends. Other than a 2-week holiday or a few extra days over the Christmas period I am admittedly a bit of a self-confessed workaholic! In October 2019 as I walked out of the office I was about to embark on a new journey through maternity leave…I was excited, I was nervous, I was scared. I was about to have a baby, my body, my heart and my head were about to be turned upside-down and on top of that I had to relinquish control of my business . To say this was going to be hard was an understatement, as i've been involved throughout the whole 'Pro-Journey', but after working with so many experienced consultants and developing and training a knowledgeable Management Team, I knew it was being left in good hands. Fast-forward to January 2020 I’d given birth to a beautiful little girl called Charlotte, everything was starting to get back to normal and I was feeling like my old self. Everything at work was going so well, I had been into the office and all of my teams were reporting success. As an owner of the business I was keen to know how the company was performing (that’s the workaholic in me), so I had committed to attend every Board Meeting from January onwards and I was so pleased that things were going so well. Maternity leave wasn’t so bad…I booked myself and my daughter onto swimming lessons, rhythm time, baby sensory…you name it we had signed up for it. It was important to me that Charlotte was sociable from day one and that I made some mummy friends in the local area. My focus slowly changed and allowed me to realign myself from the workaholic and enjoy being a mother. The Unthinkable During the week we would stay at our flat in London and at the weekend, we would head to a place that we had recently bought in the Midlands as it was close to my family. On March the 15th I waved my other half off to work. Unexpectedly I got a call at midday, he was coming home that evening and working from home indefinitely. The UK was being hit hard by COVID-19, it wasn’t going away and businesses across the country were telling people to work from home. Luckily for us at Pro-Group, we already had the infrastructure in place for us to make that swift move without causing to much disruption to our day-to-day work. Pro-Recruitment made this decision on March 15th and then what was to follow was unthinkable. We went into lockdown on March 23rd. The range of emotions that followed included fear, anxiety and dread. I had brought a baby into the world and this was our generation's war. Were we going to survive, how serious was all of this if the world was now in lockdown. Pro-Group was impacted heavily, like everyone else in the UK, we were moved to reduce our team size, we had to think strategically, we had to act fast, we had no idea how long this was going to last and if we were even going to have a business at the end of this. I was being informed of decisions that were being made, furlough schemes that we were using and many other things that were impacting our business and we had no control over any of it. I wanted to be involved in calls, decisions, meetings that were loaded with information, but I also had a baby that was breastfeeding, teething and was struggling to sleep - finding this balance was challenging, but upon reflecting, it feels like an accomplishment to balance work and life as this extreme level. How could we make this a more positive experience? We had to make this a positive experience, it became apparent as places like Wuhan started to ease their lockdown that this wasn’t going to last forever, we would come out of the other side. I took advantage of the time that we had as a new family of 3. My partner was there for every bath time and bedtime, he was there when we were having a bad day of crying just to ease things for me, even if it was only for half an hour so I could shower and have a cup of tea. We took advantage of the late summer evenings and beautiful weather; we have transformed our garden and I have become somewhat a pair of “green fingers”. We made time for each other and made every evening a time to cook, talk and enjoy dinner together. We became really close to our neighbours and would now consider them friends. All of these things would be interrupted ordinarily by work, travel and other outside factors. August came around, before I knew it I was thinking about heading back to work on 1st September. Our business had halved, I had relocated and life was so different. I had to put Charlotte into nursery and think of a back to work plan. Given the amount that I had been in touch with Pro-Group whilst I had been on maternity leave we started talking about my return fairly early on. I had a plan, a strategy and lots of time to think about how we could get out of the other side of this pandemic. Pro-Group had been excellent in considering my return to work I have come back to work 3 days a week and 1 day is working from home. I have the full support of my co-Directors and walking back into the office on Tuesday 1st September was daunting. It felt as if it was my first day at school again, I was nervous, had I forgotten how to do this? Turns out I haven’t thankfully, in fact I am even more focussed now than I have ever been. With only 3 days a week at work every minute counts. I have to be extremely productive on those days, I have time on the train to work and think of ways in which I can help my team, I am refreshed when I get to work and I feel like I have a new found energy and enthusiasm to help my company out of a slow market and back to winning ways. In Summary Maternity leave was completely interrupted by lockdown and COVID-19, but I tried to make the very best out of a very disruptive situation. I don’t feel like I have stood still for six months, the world hasn’t passed me by, I have had time to re-energise, re-focus and be in a better mindset coming out of this. Whilst it saddens me that the business I have helped to build for 13 years has changed dramatically, I have managed to better my personal life in a way I hadn’t imagined I would. In my opinion, flexible working and taking into account a good work-life balance and a happy home life is the most important thing in the world and allows you to be at your best when you leave your house in the morning ready to face whatever the world throws at you. For advice and information about returning to work after maternity leave, or for a more detailed discussion with Alison about her experience, email email@example.com or call on 020 7269 6312
Without doubt, the last few months have been extremely difficult for everyone as we continue to adjust to the ‘new normal’ and remote working. We would like to hear from you. As the UK slowly makes it's transition back to the workplace, with many employees returning from furlough, and organisations once again opening the doors to their offices, our clients have sought our opinion on how candidates are feeling and what is important to you as we begin to map an effective return to our place of work. Over the last few weeks, we have seen detailed discussions on how and when we begin making the return to the office and what the landscape looks like moving forward. Please take three minutes to complete a short survey to gather your insights and opinions, this will enable us to help you and the organisations we work with, make the new working environment best for you. You will have an opportunity to receive an exclusive copy of the results by leaving your details at the end of the survey. We look forward to sharing the findings with you. If you have any questions or concerns about your return to work, please do not hesitate to contact Kevin Racher on 02072696321 or email firstname.lastname@example.org
Joining a Big 4 firm can seem daunting when you don't know exactly what to expect or what you'll be doing when you first join. Maisie Horrell, Consultant at Pro-Tax, spoke with a female tax professional who recently joined PwC. She previously worked for a Top 10 accountancy practice for five years before making the move to the Big 4 with the help of Pro-Tax. Below, she speaks about the interview process at PwC, what happened in her first week on the job, and the difference between working at a Top 10 and a Big 4 firm. What were your reasons behind wanting to move to PwC? I wanted to make the move to PwC primarily because I wanted to gain more exposure working with larger clients and I wanted to work in a larger team that would enable me to learn from others around me. I was slightly worried at first that as a Big 4 firm, they were going to want ‘blood sweat and tears’ as this is often a common perception, but since my very first meeting with PwC I have been pleasantly surprised! What was the interview process like and how did you find it? The interview process at PwC was surprisingly stress-free, slick and very informative. It consisted of a first stage meet-and-greet with two Directors, where I was able to find out more information about the team I would be joining, the role, and what my day-to-day role would look like. I received feedback within just a couple of days and my final-stage formal interview was arranged very quickly. As opposed to the first meet-and-greet stage this interview focused more on technical questions and my suitability for the role, but I still felt at ease and comfortable the whole hour I was being interviewed. Three days after my formal interview I received an offer, which I was delighted about! The fact that it was such a quick process which made me feel at ease, made the idea of moving to PwC all the more attractive to me. I was invited back again to meet other people on my team in an informal setting, just so I could get a feel for the working environment and culture, which was fantastic as it meant that on my first day I already knew some friendly faces. What was your first week at PwC like? Day 1 - PwC Induction I was invited to listen to guest speakers who talked through how to manage stress and the best ways to achieve a good work-life balance, which in today’s world I think is incredibly important. Day 2 - Tax Induction There was a group of around 30 people from across all areas of tax within PwC, and we participated in group interactive exercises. Day 3 - Office Tour On the third day I had a tour of the building and I met my allocated buddy. Day 4 - Introductions I had my first day in my team with introductions to everyone I would be working closely with and getting to know the ropes. What have you found positive moving from a Top 10 to a Big 4 Firm? From day 1 you are allocated a ‘career coach’, who is usually a Manager or Senior Manager within your team who helps you with all areas of your career development, including promotions, work allocation, options to specialise, and secondment opportunities (whether this is internationally or to different departments within tax or the wider business) Every Wednesday my particular team has a fundamentals session for juniors - this is a training session where as a group, we discuss new tax legislation On Thursday each week we then have a Business Development session and discuss how we can take new cases to market, which is very helpful in enabling the team to become more commercially minded - something I have noticed about everyone at PwC from the very beginning of my career here I have also noticed that the way PwC advises is a lot more innovative than at my previous firms - the ways in which people work here is inspiring, and they continuously spot opportunities in other areas of the market that I don’t think other teams would right away I have found that I am working with such a mix of personalities - both my team and the wider business are so diverse and I’ve met such a wide range of people which makes work all the more interesting. This also means that I can bounce ideas off more people, making my work well-rounded as I learn from the people around me The business is all completely paperless which means everything runs smoothly and efficiently, with processes you wouldn’t always necessarily find at a smaller firm Unlike the common perception I haven’t found myself, or anyone else on my team, working crazy long hours, and having a healthy work-life balance is encouraged from day one Working at PwC I have noticed a much quicker turnaround in terms of work - when comparing this to firms outside of the Top 10, firms can sometimes lack innovation and urgency Everyone delves much deeper into the technical analysis of everything we do so that we can improve and innovate constantly, and as a firm PwC invests so much in improving themselves as well as their technology and systems One final and important thing that PwC do really well, is investing in people. They invest so much into personal development - you are encouraged to carve a niche for yourself from the beginning and to ask for feedback on everything, so you can improve after every piece of work you do. Your career is totally in your hands and you are given every opportunity to progress and develop. I think that working at PwC is going to make me a much more well-rounded advisor and for me, it's the best place to be for self-development and career progression - it’s an opportunity that I don’t think I fully appreciated until I actually got here! For more information on this article, or to speak to Maisie Horrell about making your move into a Big 4 firm, contact her on 020 7269 6337 or email@example.com.
“I want to be ‘X’ when I grow up”... A phrase we have all said at least once at some point in our lives. I know for a fact that I pondered on this thought at every milestone of my life growing up. Primary school: Astronaut, Secondary School: Footballer and College: Lawyer. I’m not sure if it was just me in this boat but it was a daunting task to think about what I genuinely wanted to do, career-wise, longer-term. Having now spent several years specialising in tax recruitment, advising individuals at various stages of their career, I thought it was a great opportunity to reflect on why a career in Tax could be highly rewarding for anyone considering this route. Especially with the market being in demand for high-quality individuals! So, what is Tax? Tax: “(an amount of) money paid to the government that is based on your income or the cost of goods or services you have bought" For most, paying tax seems like an endless chore. However, its fact of life and something that affects individuals and businesses alike. As a Tax Professional, you can be the Batman to Gotham but instead, help save money on tax bills. In a nutshell, key responsibilities will include knowing tax law, breaking this down into layman terms, identifying new ways to save money whilst ensuring it's all done in a fully compliant and timely manner. Types of Tax: Broadly speaking, there are three main types of taxes: Corporate Tax: Tax for companies and businesses. These could be small and medium-sized enterprises (SMEs), Owner Managed Businesses (OMB’s) or Large and Listed (FTSE100). There are specialisms within this such as Transfer Pricing, M&A and Employment tax to name a few. Personal Tax: Tax for individuals. There is also the option to specialise here, including Inheritance Tax, Capital Gains Tax, Trusts. Value Added Tax (VAT): Tax on goods and services. Where to work: Accountancy Practices: This can range from the small boutique/independent firms through to mid-tier, all the way to the largest being the ‘Big 4’ (PwC, Deloitte, EY and KPMG). They act on behalf of a range of clients and across varying sectors. Commerce and Industry (In-House): This is where you will be solely working for one business and handling all their taxes, say Vodafone for example. Career Path: In an accountancy practice, your career path and opportunities to progress will be very linear. You’ll start as a Graduate/Tax assistant, progressing through to Tax Semi-Senior, then Senior. After this it will be Assistant Manager, Manager, Senior Manager and then comes Directorship. The final piece of the puzzle will be becoming a Tax Partner. Of course, there may be a few additional steps depending on the firm in question, but this gives a rough idea. On the flip side, a career in-house will look different from that in terms of titles and promotions. On occasion the teams tend not to be as big as those in the larger accountancy practices, thus meaning fewer levels to climb. As a result, an ‘upwards’ move may take slightly longer. Qualifications: The two main qualifications in Tax are ATT and CTA. ATT will help those starting their career and gives a solid understanding of core compliance principles. This is vital in ensuring client’s tax returns are completed accurately and filed on time. CTA is the next big milestone after ATT and is when you become a Chartered Tax Advisor. Being an advisor switches the focus to the problem solving, consultancy side of tax. It’s about knowing rules and legislation inside out, to take advantage of any loopholes, thus making the client’s finances as tax-efficient as possible. For anyone looking to further their career in some of the specialist fields, there are options available such as ADIT and STEP. Lifestyle and remuneration: Work-life balance is a very hot topic in today's working world. For those working in practice, hours tend to be longer especially with key deadlines to be met and this could result in additional evenings and weekends where you are required to work. However, the accounting world is continuing to develop and has become hugely accommodating to agile and flexible working to be competitive. Salary will rise steadily and is usually dependent on the firm you work for, your experience and qualifications. Broadly speaking, someone with a few years tax experience with the ATT qualification will be compensated around the 35k mark, this is likely to increase by at least 10k with a few further years’ experience and the CTA. After this, the world is your oyster and salaries can easily reach six figures and (in some cases), much higher, especially Partners in Big 4. Those working in Commerce and Industry are likely to be remunerated at a greater level than in practice and likely to see enhanced benefits packages (pension, days holiday etc). However, there are fewer opportunities available, thus making it more competitive. In summary A career in tax can be highly prosperous and rewarding, not only financially but also in terms of professional development. It offers a genuine chance to progress, ensuring your career does not stagnate. With tax legislation changing all the time, you will be sure to be kept on your toes! Here at Pro-Tax we focus primarily focus on tax opportunities for those with a minimum of 12-18 months of experience and who are likely to be studying for their ATT. For those wishing to embark on a career in tax, please do familiarise yourself with the Accountancy Age Top 50+50: https://www.accountancyage.com/rankings/top-5050-accountancy-firms-2019/ This will give you a good insight into the top 100 accounting firms in the UK, all of which are likely to advertise their graduate programmes and entry-level positions. The above is simply an insight to those interested in a career with tax and there is certainly more to this than meets the eye! Regardless of whether you are just learning the ropes in tax or if you are seeking genuine career advice as a more experienced tax professional, please do not hesitate to contact Dominic Watt on 0207 269 6310 or firstname.lastname@example.org.
Stay up-to-date with the movers and shakers in the tax sector. Here are the key movements in March 2020: PRACTICE LONDON AND CITY Partners PricewaterhouseCoopers (PwC) has announced its leadership team with effect from 1st July 2020, following Kevin Ellis’ recent election to serve for a second four year term as the Senior Partner for the UK and Middle East Alliance. Alongside Ellis, the management board will comprise the following members from 1st July 2020: Marco Amitrano – Head of Clients and Markets; Benjamin Higgin – Head of Technology and Investment; Laura Hinton – Chief People Officer; Hemione Hudson – Head of Audit; Warwick Hunt – Managing Partner and Chief Operating Officer; Sam Samaratunga – Head of Risk Assurance; Dan Schwarzmann – Head of Market Initiatives and Industries; Carl Sizer – Head of Regions; Alison Statham – General Counsel and Chief Risk Officer; Paul Terrington – Head of Consulting; Marissa Thomas – Head of Tax; and Ken Walsh – Head of Deals. Ernst & Young (EY) has announced the appointment of Hywel Ball as EY UK & Ireland Regional Managing Partner and UK Chair, effective 1st July 2020. Ball will be responsible for leading the business in the UK and Ireland, succeeding Steve Varley, who has been appointed as the first EY Global Vice Chair – Sustainability. In addition, Alison Kay has been appointed into a newly created role as UK&I Managing Partner – Client Service, also effective 1st July 2020. Kay will be responsible for leading the overall market activity and service line delivery for EY in the UK and Ireland. Ernst & Young (EY) has appointed Sally Jones as an International Trade Policy Partner. She joins from Deloitte where she spent over 20 years. Hugo Parson has joined Deloitte as a Partner to lead its Origination team for Private Equity. Parson was previously Global Head of Origination for Private Equity at Ernst & Young (EY), where he worked for over seven years. Prior to this, he worked at Morgan Stanley and JP Morgan. At Deloitte, Parson will head up a cross-border team to identify investment opportunities for financial investor clients. UHY Hacker Young has appointed Mike Burt as a Tax Partner in the London office. Burt joins from Grant Thornton where he served as Partner for 20 years. He is a tax specialist focusing on entrepreneurial private clients and their businesses. BKL has become a member of AGN International, a worldwide association of independent accounting, tax and advisory businesses. Shipleys has announced that the tax and accounting division of London-based Mariana UFP LLP, merged with the firm on 2nd March 2020. The merger sees a small team of corporate and general tax specialists join Shipleys, led by Chartered Tax Adviser Stephen Hanlon. Hanlon’s career includes time working at BDO before moving to Ernst & Young (EY) as a Director in 2009, where he specialised in advising real estate businesses and a wide range of funds. He now specialises in many SEIS and EIS related issues, R&D tax credits and company share schemes, as well as advising on various reconstructions, reorganisations and M&A transactions. Senior Appointments PricewaterhouseCoopers (PwC) has appointed Philip Rycroft CB and Victoria Raffé as new independent Non-Executives. They join the firm’s public interest body alongside Chair Dame Fiona Kendrick, Sir Ian Gibson CBE and Justin King CBE. During a 30-year career Rycroft held senior leadership positions in departments such as the Cabinet Office, Office for the Deputy Prime Minister, Department for Business, Innovation and Skills and the Scottish Executive. Most recently, Rycroft was Permanent Secretary for the Department for Exiting the EU before retiring from the Civil Service in 2019. Raffé is a former director and executive committee member of the Financial Conduct Authority, where she held a number of leadership roles during a 20-year career with the regulator and its predecessor the Financial Services Authority. Since leaving the FCA, Raffé has focused on non-executive roles in the fintech sector and is currently a non-executive director of Starling Bank. Rakesh Dabasia has joined Buzzacott as a Tax Director in the Private Client team. He joins Buzzacott from Rayner Essex. Dominic Treays has been appointed as Commercial Director (Global Business Services – Tax & Accounting) at TMF Group. Treays’ specialisms include corporate advisory, planning and transactional, VAT, tax controversy and international corporate tax. SOUTH EAST Partners RSM has appointed Natasha Lucas as a Partner in its Private Client team based in Guildford. Lucas joins RSM from a London based investment firm where she was the CFO. Previously, she worked in Private Client Services for PricewaterhouseCoopers (PwC) as a Tax Director and as a Director at Deloitte. SOUTH WEST Partners Thomas Westcott has appointed Chartered Tax Adviser Ian Pring as a Partner in the Plymouth office. Pring has joined Thomas Westcott following a 30-year career at PKF Francis Clark. He has experience of advising on all areas of tax as well as specialist knowledge of property taxes, such as stamp duty land tax, and family business succession planning. MIDLANDS AND THE EAST Partners Smith & Williamson has appointed David Yewdall as a Partner in the Employment Tax and Incentives team based in the Birmingham office. Yewdall joins from PricewaterhouseCoopers (PwC), where he was a Director and spent over two years. He has also worked for KPMG and Ernst & Young (EY). NORTH WEST Partners UHY Hacker Young has appointed Helen Cowley as a Tax Partner in the Manchester office. Cowley joins from Baldwins, she provides bespoke tax advice to UK and overseas businesses and has particular expertise is assisting clients entering global markets and in providing international tax advice. Senior Appointments Julie Moore has joined RSM as an Employment Tax Director based in Manchester. Moore joins RSM from PricewaterhouseCoopers (PwC), where she was a Senior Manager. NORTH EAST Senior Appointments Roseann McGovern has joined the RMT’s Personal Tax team. COMMERCE AND INDUSTRY Justin Moody has been appointed Head of Tax at NES Global Talent. Chris spent time in practice with Deloitte and KPMG with his in-house career including time spent in the tax teams of AstraZeneca, Creston PLC and MAG. Hannah Karwatowska has joined Activision Blizzard as Indirect Tax Director. Before Activision, Hannah spent the majority of her career with Deloitte before her first move in-house to Thomson Reuters. Premier Foods have appointed Nita Advani as Head of Tax. Nita is vastly experienced with her in-house career spanning a variety of industries which includes time spent with Gillette, Aker Solutions, PageGroup, Ashtead and Lloyd’s respectively. For more information about this article, or to speak to Rebecca about your recruiting needs or Tax jobs in London or Nationwide, contact her on 02072696320 or email@example.com. Back to Tax Movers & Shakers Archive >>
The coronavirus pandemic is affecting the lives of people right around the world in a way that has most probably never been seen before. Most people are uncertain of what lies ahead in the next few months, and job security is undoubtedly one that is at the forefront. While no jobs are completely sheltered from an economic fallout, there are certain industries which will be impacted less when a recession hits, one of which is accounting, according to many economists. Accountancy is considered to be the sixth most secure profession around. Indeed, in terms of accountancy as a recession-proof industry, it has ranked as the top position for salary and security. Skilled accountants can always pick up consultancy work in areas of risk advice – especially relevant during rockier periods such as recessions – and in more healthy economic climates, growing businesses will always be glad of the assistance. Essentially, accountancy is not – and will almost certainly never – be a ‘luxury’ service. It is essential. As long as businesses continue to operate, they’ll continue to require assistance from financial professionals. After various recessions, economic turbulence, and Brexit, the tax market has remained solid. Of course, there always needs to be adjustments, but the tax market has remained buoyant enough compared to others. Despite the uncertainty of the past few weeks whilst people adjust to the remote way of working, I am seeing more and more of my clients returning to ‘business as usual’. This includes pushing forwards with recruitment and continuing interview processes through video conference or Skype. Once we are through the worst of COVID-19, the tax consultancy industry should see an increase in demand, as well as a need for further tax professionals. Accountancy practices will need to keep recruiting in order to continue growing and meet this demand. The good news is that there's a clear pattern of markets overreacting to events like this, usually recovering before the worst is over, and recovery tends to be quick. If you are open to considering your next step in your career, I am working on a number of different roles, including: Restructuring Tax Assistant Director – up to £95,000 + 20% bonus Restructuring Tax Manager – up to £75,000 + 20% bonus Real Estate & Infrastructure Tax Manager – up to £75,000 + 20% bonus Transfer Pricing Director FS – up to £130,000 + 20% bonus VAT Analyst/Associate – up to £50,000 + 20% bonus So, the message is one of positivity. If you are worried about your job or business, need career advice, or are simply looking for market intel, please feel free to contact Maisie Horrell on 020 7269 6337 or firstname.lastname@example.org.
Robert Marchant is a VAT Partner at Crowe's London office, and leads the firms VAT work with corporate businesses and professional partnerships. He plays a leading role within Crowe's global indirect tax network, is a member of their European indirect tax committee, and has worked with clients across a wide range of industries from new start-ups all the way through to FTSE100 businesses. Robert speaks with Ashleigh, Senior Consultant at Pro-Tax about working at Crowe, the secrets to good leadership, and how to approach the first day of a new job. What’s your favourite thing about your firm? Crowe is on an exciting journey, both in the UK and internationally. The accountancy and tax services markets are going through a period of change where ‘challenger firms’ to the Big Four are emerging, and Crowe is in this group. In the UK, we have invested in new talent over recent years and I have the pleasure of working with a number of people that are excellent at what they do. On a global scale, our recent rebranding has brought the network closer together and this brings benefits to our external facing activities. What makes Crowe unique? The size of our firm means we are large enough to have wide-ranging technical expertise and geographic reach, but we are not too large that we lose the personal touch. Ultimately, I work in a people business, so I want to have a role that allows me to spend time with my clients and colleagues. What pet peeve do you have when interviewing? When candidates do not research the firm and/or the role. There is so much information available on the internet, it is easy for candidates to spend at least 15 minutes before an interview researching recent developments or articles connected with the role. What advice would you give to someone in day 1 of their new job? To engage ‘sponge mode’. Day 1, week 1 and even month 1 are all about soaking up as much information as possible about your new colleagues, new firm, new systems, new ways of working etc. From my perspective, I want to see that a new starter is engaged and interested (dare I say excited) about their new position, and being inquisitive is a good way of demonstrating this enthusiasm. What are the secrets to good leadership? I’m not going to try and pretend to be an expert in leadership! My golden rule, which is yet to fail me, is to treat everyone as I would want to be treated myself. We are all grown-ups and I try to treat everyone with integrity and honesty. How do you define success? “Beauty is in the eye of the beholder”. I think that success can mean different things to different people at different times. My kids often ask me if I had a good day and my answer can be shaped by the outcome of the smallest tasks as they may have been a particular objective for me that day. In judging success, I think that it is key to first understand your objectives and, when working in a team, its important to make sure that all the members of the team’s goals are aligned. What three traits define you? A little bit of talent, a lot of hard work and a dollop of good fortune! Being serious, I would say I am hard working, committed and prepared to lead by example. There is no task I would ask a member of my team to do that I’m not prepared to do myself. What is your personal philosophy? As I said above, my personal view is that there should be no task I would ask a member of my team to do that I’m not prepared to do myself. Who do you admire most in your industry? Rather than focusing on one particular person, I try to take the good bits from the many talented people I have worked with in the past. For example, there was a Partner who I admired for being able to succinctly communicate and address the issue at hand, and you knew that if he said he needed five minutes, that was how long it would take. I fondly remember a Manager who was excellent at networking and the Head of Security at my former firm who was the first person that guests to the office would meet and he would make everyone feel welcome. What would you do (for a career) if you weren’t doing this? I’ve always joked with my colleagues that I would be a Postman! I’m a creature of habit and not adverse to walking! Most of my professional career has been spent in London, so I’d take on a job where there was routine and I was away from the hustle and bustle of the city. For more information on this article, contact Ashleigh Polakiewicz on 020 7269 6324 or email@example.com Back to 60 Seconds archive >>
Women get paid from the 4th March. That's right! On average in the UK women work for free for two months every year as a result of the gender pay gap! According to the Trades Union Congress (TUC) that means that with the average working an unpaid 63 days versus their male counterpart, today; March 4th marks the day women start getting paid! The TUC analyses this further. Since the Equity Act came into force in April 2017, companies with more that 250 employees have been forced to publish their gender pay gap and it makes for some surprising results. Findings go on to show that there is still quite the discrepancy between industries. For example, education is an industry made up of 75% women, however the gender pay gap is 25.4%. This means that on average female teachers work for free for more than a quarter of the year (93 days)! Meanwhile, women in the financial and insurance industry could be looking at 123 days working for free a year, which would mean for these it would be 3rd of May this year before their pay kicks in vs. a similar male colleague. There are also findings to suggest that location also plays a big part in gender pay differences, linked to the concentration of industries in different regions. If the UK average is 63 days of comparative unpaid work, then the areas with the smallest pay gap are Northern Ireland (37 day / 10.1% ) and Scotland (52 days / 14.3%). The area that has the biggest gap is the South East where there is on average 20.5% gap (over a month's difference compared to NI). Companies are, in general, trying to close the gender pay gap and there has been a call for the workplace to recognise and help women with more family friendly policies. Employers are much more open to flexible working, encouraging parental leave and providing the same opportunities within the workplace. Pro-Tax are proud to announce that in 2020 to date, we have placed an exact 50:50 gender split into permanent positions. As well as this, Pro-Group is an inclusive employer and we are proud to have a female heavy employee base, with 50% women in management and on the board. We have also set up a new network for women working within the tax market - whether it be in practice, in-house, HMRC, support, HR or sales. This space is aimed at providing a platform to women working in the tax industry in whatever capacity so they can share insights and ideas, facilitate learning, development and further knowledge in a like minded supportive group through articles, discussions and events - if this is something you would be interested in please do join our network. (Source: https://www.theguardian.com/world/2020/mar/04/women-work-for-free-for-two-months-a-year-says-tuc-analysis) For a confidential chat around what opportunities are available to all across the tax market, please contact Rebecca English on 020 7269 6320 or firstname.lastname@example.org.
Stay up-to-date with the movers and shakers in the tax sector. Here are the key movements in February 2020: PRACTICE LONDON AND CITY Partners BDO has appointed Julia McCullagh as a Partner in the Corporate Tax practice. She previously worked for PricewaterhouseCoopers (PwC) both in the UK and US as well as spending five years working in-house within the consumer goods industry. She will assist clients manage all tax aspects of their UK and overseas operations including cross-border operating models and transfer pricing. McCullagh’s sector experience includes pharmaceuticals and consumer markets. Wilkins Kennedy has appointed Paul Barwick as a Forensic Accounting Partner. Barwick, who has more than 13 years’ experience in forensic accounting, joins from Mazars where he spent seven years, and earlier in his career spent six years with Charles River Associates. He specialises in the provision of forensic accounting services to solicitors, regulators, and corporates and has worked across a range of sectors. He has wide ranging experience including breach of contract and loss of profit claims, fraud investigations and asset tracing, post-transaction disputes, contentious valuations, family and matrimonial disputes, and manipulation of accounts investigations. Barwick is regularly instructed by dispute resolution lawyers in the context of litigation or arbitration and has had cases heard in both the UK High Court and in arbitral tribunals around the world. Senior Appointments It has been reported that Ernst & Young (EY) has appointed five solicitors to its Tax Controversy and Risk Management team. Richard Doran joins as a Director from KPMG, where he spent over six years. Prior to KPMG, he spent five years with law firm Dorsey & Whitney. Julian Balson joins as a Director from law firm Bird & Bird, who he joined from PricewaterhouseCoopers (PwC) in 2017. Paula Ruffell joins as a Senior Manager from Grant Thornton, where she worked for nearly three years. Earlier in her career, she worked at law firm Baker & McKenzie LLP and HM Revenue & Customs. Meanwhile, Daniel Greene joins from The Khan Partnership and Davinder Sahota joins from KPMG. Markel Tax has made a number of new senior appointments. Mark Baycroft and Imran Umarji have joined the Owner-Managed Business (OMB) Tax team. Both arrive from Moore Stephens/BDO. Andrew Paschalis joins the Tax Investigations team as a Senior Consultant from PwC. Punnit Vyas has joined Markel Tax as a Senior Consultant with over 16 years as a VAT consultant in top 20 mid-tier accountancy firms, and within HM Revenue & Customs. Nicola Goldsmith has joined the team as Head of Private Client. All five team members will be based in Markel Tax’s London office. MIDLANDS AND THE EAST Partners Lovewell Blake has announced the appointment of a new Partner following the agreement to acquire some of Grant Thornton’s local tax and audit practice in Norwich. Tax Director Mark Watson will join the Partnership at Lovewell Blake, and the 34 staff currently based at Grant Thornton’s Kingfisher House office will also join Lovewell Blake, relocating to the firm’s Norwich offices at Broadland Business Park. It has been reported that Baldwins Directors, John Baldwin, David Baldwin and Shaun Knight, have resigned. Alyn North, Group Chief Commercial Officer at CogitalGroup has taken over as CEO at Baldwins. North trained with PricewaterhouseCoopers (PwC). Senior Appointments Baldwins has appointed Lucy Sutcliffe as Director of National Customs Duty. She specialises in customs and excise duties providing technical advice for businesses involved in the movement of goods, imported into and exported from the UK, the EU and the rest of the world. She joins from MHA MacIntyre Hudson and previously spent over 20 years at HM Revenue & Customs. YORKSHIRE AND HUMBER Partners It has been reported that Deloitte has appointed Richard Davis as Head of Tax for Yorkshire and the North East. Davis joined Deloitte in 2005 and was made a Partner in 2014. His sector experience includes manufacturing, utilities and real estate. SCOTLAND Partners Anderson Anderson & Brown has announced that Derek Mitchell will take over as Managing Partner of the firm’s Aberdeen office on 1st April 2020. Mitchell, a tax specialist, currently leads the firm’s business advisory group, having joined the firm 14 years ago. Senior Appointments Alvarez & Marsal has opened an office in Glasgow, extending the firm’s funds and alternative assets practice. The new team will be part of Alvarez & Marsal Taxand, providing alternative asset management clients with advice and reporting services across the lifecycle of funds, from launch to exit. In addition, the team will work with private clients in Scotland. The new Glasgow office will be led by Donald Campbell, who joins as a Senior Adviser from Deloitte, where he led the Private Client Services team. Campbell has more than 30 years’ tax experience, advising both individuals and corporates on tax related to M&A, real estate, funds and succession planning. He will be joined by Jordan Brown, who joins A&M as a Director from Ernst & Young (EY). Brown has over ten years’ experience advising private clients and asset managers on tax issues. Prior to joining A&M, he was part of EY’s funds tax team. WALES Senior Appointments Daniel Burton has joined Kilsby & Williams as a Tax Manager. He previously spent six years with HM Revenue & Customs where he specialised in customs and international tax. OFFSHORE Partners Grant Thornton in Ireland has promoted Brian Murphy to Partner in the Financial Services tax practice. Murphy joined Grant Thornton in 2019 as a Director from PricewaterhouseCoopers (PwC), where he spent 15 years. COMMERCE AND INDUSTRY Chris Mutlow has been appointed Head of Tax Compliance & Reporting at Advanz Pharma. Chris spent time in practice with Deloitte and KPMG before his first in-house move with British American Tobacco. Sarah Sennett has joined Ascot Group as Head of Tax. Sarah can be considered somewhat of an insurance specialist with previous stints with QBE, Markel and MS Amlin respectively. Refinitiv have appointed Juliet Coombs as Director of Tax Operations EMEA. Having spent the majority of her career with Deloitte initially, Juliet spent just over 2 years with Capita before making the move. For more information about this article, or to speak to Rebecca about your recruiting needs or Tax jobs in London or Nationwide, contact her on 02072696320 or email@example.com. Back to Tax Movers & Shakers Archive >>
Chatan Patel is the Head of Tax at Global Fashion Group. He has just under a decade of experience working for international groups after training and qualifying in CTA with the Big 4, and gained his in-house experience in the telecommunications industry, recently moving to the e-commerce world. He is skilled at managing domestic and international tax teams, managing various senior internal and external stakeholders, and setting the vision for a future tax function. Chatan speaks to Marianne Wills, Consultant at Pro-Tax about working at GFG, the transition between practice and in-house, and working in the e-commerce industry. What’s great about working for Global Fashion Group? GFG is a leading online fashion and lifestyle destination in terms of estimated online sales in 17 countries across Asia Pacific, Latin America and the Commonwealth of Independent States (“CIS”). It is a young, exciting, innovative company that has a huge opportunity to grow in its markets. How big is your team and what advice would you give to anyone who would apply to be a part of your team in years to come? I have a team of 5 reporting to me based in the UK and Germany. My advice would be to be personable, engaging and smile! When you interview someone for your team or organisation, what is the first thing you notice about a person and what does it tell you? Their ability to communicate. This tells me how well they will liaise with the other key stakeholders in the organisation. In your opinion, has the role of ‘in-house tax professional’ changed much over the years? The role has fundamentally changed with less focus on aggressive tax planning and more consideration on managing tax risks, ensuring an effective tax governance framework and business partnering. What challenges, personally or professionals, do you think the next generation of tax professionals face? There is no doubt technology will continue to impact the tax profession. Tax authorities across the world are already embracing technology. Therefore, tax professionals in the future would need to be technology savvy. You have both in-house and private practice experience and a very impressive career to date. How was the transition for you between practice and in-house? The transition was exciting, but it takes time to get used to! You move away from working with clients to working in an organisation with a totally different infrastructure, more diverse range of people and interaction with non-tax departments such as accounting, legal, M&A, Treasury and commercial areas. It can be a steep learning curve but rewarding as you begin to develop a commercial adviser mindset. Your first and second move in-house have both been with telecommunications businesses and you are now in the e-commerce industry, what have you found to be different between the sectors? The e-commerce business model is very different to a telecommunications business. The flow of goods and services in an international group gives rise to a different set of tax challenges and risks. How have you found moving from two well established listed businesses like Millicom and C&W to Global Fashion Group, a new and growing business who are a little less known? The transition was challenging at times as you begin to introduce and implement new policies, understand the business and the key challenges. However, you continue to develop your skills which is important. What advice would you give to your younger self? Stick to your gut instincts, see change as an opportunity and never lose your sense of humour. What do you do in your downtime? Keep fit, travel and read. For more information on this article, contact Marianne Wills on 020 7269 6319 or firstname.lastname@example.org.
In all of your ATT and CTA examinations, knowing how to use the legislation is integral to exam success. It is a real skill knowing how to navigate around the legislation and interpret its contents in a time efficient manner under exam conditions. Nitin Rabheru, Tutor at BPP Professional Education is running free live webinars in February and March 2020. These free sessions are for BPP and non-BPP students on the following dates: ATT Highlighting Tips: Tuesday 18th February 2020 (18:00-20:00) CTA Highlighting Tips: Thursday 20th February 2020 (18:00-20:00) CTA Owner Managed Businesses Adv Tech + APS: Tuesday 25th & Thursday 27th February (18:00-20:00) CTA Taxation of Major Corporates Adv Tech + APS: Saturday 29th February (09:00-14:00) CTA Individuals Adv Tech: Wednesday 4th & Thursday 5th March (18:00-20:00) 2020 Legislation Registration Links If you would like to attend (or listen to a recording) please register your interest by following the below links: ATT Highlighting Tips CTA Highlighting Tips CTA Owner Managed Businesses Adv Tech + APS CTA Taxation of Major Corporates Adv Tech + APS CTA Individuals Adv Tech On each course, you will learn to: Use the legislation without having to learn individual section numbers Identify which elements of the legislation are useful and those that are not Practice tactical highlighting tips to help you identify key points required to answer questions in the exam Recap core areas Other key information: You will require a set of legislation (Tolleys or CCH) and 5 coloured highlighter pens Legislation should ideally be 2019/20 Details of how to access the course will be sent prior to the course You will need a good internet connection After the session you will be sent a link to the recording In the meantime, for any queries please don't hesitate to contact Nitin Rabheru at email@example.com or firstname.lastname@example.org. Online teaching can be an effective way of delivering both taught and revision sessions, and the online courses offered by BPP allow flexibility for students. You have the ability to study from home, log in remotely and pause live - all the positives of virtual learning. Of course, online learning isn’t for everyone, but BPP gives you all the support you need for your studies with the ability to work at your own pace and in your own time. Click here to find out more about Nitin's work and what BPP can offer to support you with your Tax exams. Want to see how you performed in the recent CTA exams compared to last summer? Click here to see a comparison of CTA results between July 2019 and January 2020 >> For more information on this article, or to speak to our specialist tax recruiters about the next step in your career, contact Kevin Racher on 020 7269 6321 or email@example.com.
You are invited to the upcoming ABI breakfast event in partnership with Pro-Tax With upcoming developments around IFRS 17, DAC6, VAT, IPT, digitisation and the newly formed government to manoeuvre Brexit, 2020 promises to be a pivotal year for the insurance taxation landscape. Join Mervyn Skeet and a panel of industry-leading experts in discussing such issues; to include Big 4 Partners through to industry Heads and regulatory specialists. When: 31 March 2020 - 08:00 to 10:00 Where: The ABI - One America Square, 17 Crosswall, London, EC3N 2LB Cost: Free upon registration Register here >> This event will benefit tax leaders in the insurance space, so feel free to forward this invite to your peers. I look forward to you seeing you on the morning. For more information about the event and the panelists, contact Jay Sky on 020 7269 6343 or email firstname.lastname@example.org
Stay up-to-date with the movers and shakers in the tax sector. Here are the key movements in January 2020: PRACTICE LONDON AND CITY Partners Haysmacintyre has appointed James Walker as a Private Client Partner. Walker specialises in advising high-net-worth non UK domiciled individuals, offshore trust/company structures and related beneficiaries. He joins from Buzzacott where he was Partner and Head of Private Clients. RSM has appointed Natasha Lucas as Tax Partner. Lucas joins from Ferox Capital where she spent 11 years following Directorships at both PwC and Deloitte. Mercer & Hole has promoted Jacqui Gudgion to Partner in the Corporate and Business Tax team. Gudgion has expertise in tax planning for reconstructions and reorganisations, profit extraction, capital gains tax, inheritance tax, research & development relief claims, enterprise management incentives and the enterprise investment scheme. Barnes Roffe has appointed Jasmine Worth as a Partner with effect from 1st January 2020 based in the East London office. Worth specialises in VAT in addition to all corporate and personal tax matters. She started with Barnes Roffe in 2006 and following qualification as a chartered accountant was promoted to Audit Manager. Senior Appointments Buzzacott has appointed Antoine Housden as Head of Financial Services tax in the Corporate and Business Services team. He advises investment funds, asset managers and other financial services businesses. Prior to joining Buzzacott, Housden spent over four years at Ernst & Young (EY), latterly as Director in the Wealth and Asset Management tax practice. Earlier in his career, he worked at PricewaterhouseCoopers (PwC) and spent nearly ten years at Kinetic Partners. SOUTH EAST Partners PricewaterhouseCoopers (PwC) has appointed Caroline Bevan as the new Office Senior Partner for the North of London office based in Watford. Bevan has been with PwC for more than 20 years KPMG has appointed Andrew Morgan, Senior Partner for the Reading office, as South region chair. A Tax Partner, who first joined KPMG in 1988, Morgan advises clients on transfer pricing, corporate restructuring and tax investigations. KPMG has moved its Thames Valley office to 2 Forbury Place, 33 Forbury Road, Reading RG1 3AD. Mazars has relocated its Sutton office to: 6 Sutton Plaza, Sutton Court Road, Sutton SM1 4FS. Senior Appointments Harwood Hutton has welcomed Michael Ashdown as its new Head of VAT and Indirect Taxes. For the past 12 years Ashdown worked at BDO, latterly as a VAT & Indirect Taxes Director. Earlier in his career, he spent four years with Deloitte & Touche. SOUTH WEST Partners Bishop Fleming has announced plans to move their Bristol office to a new office in the city in 2020. Currently based in Queen Square, the firm is taking the whole top floor and roof terrace of 10 Templeback. Senior Appointments MHA Monahans has appointed Carmelo Lattuca as a client portfolio manager based in the Bath office. Lattuca joins from Milsted Langdon, where he was Senior General Practice Manager. He qualified as an ACA in 2014. MIDLANDS AND THE EAST Partners PricewaterhouseCoopers (PwC) has confirmed that it has moved into its new Birmingham office, based at One Chamberlain Square, Birmingham B3 3AX. MHA MacIntyre Hudson has announced that it has finalised a deal to merge its Milton Keynes operations with Keens Shay Keens MK LLP. Claristas Tax, an independent advisory firm, have promoted Ses Memhi to Associate Director in their Birmingham office. NORTH WEST Partners HURST has appointed Adrian Young as a Tax Partner. Young was previously Global Head of Tax at the Euro Garages Group. He qualified as a chartered tax adviser with PricewaterhouseCoopers (PwC) in 2003. UHY Hacker Young has announced the addition of Helen Cowley as a new Tax Partner in their Manchester office. Helen joins from Baldwins where she specialised in working with owner-managed businesses, independent professionals, and global accountants and business advisors. Senior Appointments DSG Chartered Accountants has promoted Murray McLean to Tax Director. McLean joined DSG as a Senior Tax Manager in 2018, having previously worked for another local firm for 13 years. YORKSHIRE AND HUMBER Senior Appointments Watson Buckle has appointed Gillian Craven as Director. Craven started her career at Watson Buckle in 2005 as a Graduate Trainee. After attaining the ACA qualification, she was promoted to Audit Manager in 2010. Her focus has been on audit and accounting, tax, and business advisory. SCOTLAND Partners Neil Norman, Head of the Entrepreneurial Tax team at Chiene + Tait, has been appointed to the Board of the Global Accountancy Association AGN International. This appointment coincides with Norman and his fellow C+T Tax Partner John Rodger being jointly named as the firm’s new Heads of Taxation. Norman qualified with a medium sized firm and then spent five years with KPMG prior to joining Chiene + Tait in 2012. EQ Accountants has promoted Rachel Bell, Scott Greig and Robert Young from Principal Managers to Partners with effect from 1st April 2020. Bell, based in the Dundee office, joined the firm as a Trainee in 2008. She qualified as chartered tax advisor in 2014 and is a corporate tax specialist. She is a member of the research and development tax team and heads up the Transaction Tax group. Greig, who is based in Cupar office, qualified as a chartered accountant with the firm in 2012 and is an agricultural specialist. An agricultural specialist, Young is based in the Forfar office and specialises in personal taxation, particularly succession planning, inheritance tax and executory taxation. He is also the lead for the private client tax group. COMMERCE AND INDUSTRY David Yeomans has been promoted to the position of Group Head of Tax at Hitachi Capital. David enjoyed a spell of just over 10 years with KPMG before moving the Hitachi Captial and starting his career with HMRC. Mark Dyer has joined Lloyd’s as Head of Tax. His previous experience has included senior level positions of the tax teams at Essentra and Debenhams respectively. Chanel has appointed a new Head of Tax, Manuel Lutz. He has held several tax leadership roles in industry. He joins from Alcon where he was Head of Tax, based from Geneva. Before that he was VP and Group Head of Tax at Essilor, based in Paris. For more information about this article, or to speak to Rebecca about your recruiting needs or Tax jobs in London or Nationwide, contact her on 02072696320 or email@example.com. Back to Tax Movers & Shakers Archive >>
Wednesday 22nd January 2020 was a significant date for those tax professionals eagerly awaiting their CTA results. The Chartered Institute of Taxation (CIOT) announced that from the 1,528 candidates that sat the examinations, 224 successfully completed all CTA exams. Included in this were 54 on the ACA CTA Joint Programme and 34 who now fully completed the ATT CTA Tax Pathway by passing the CTA element. Comparing this to the previous results that were announced in July 2019, from a total of 1,526 individuals, 132 successfully completed all the CTA exams. Included were 30 candidates on the ACA CTA Joint Programme and 23 who fully completed the Tax Pathway by passing the CTA element. Below sees a further breakdown and comparison of these results by examination: Advanced Technical – January 2020 PaperTotal Sitting ExamCandidates PassedPass RateTaxation of Owner-Managed Businesses69726438%Domestic Indirect Taxation571526%Inheritance Tax, Trusts and Estates934245%Human Capital Taxes422252%Taxation of Individuals43522251%Cross-Border Indirect Taxation583560%Taxation of Major Corporates25816263% Advanced Technical - June 2019 PaperTotal Sitting ExamCandidates PassedPass RateTaxation of Owner-Managed Businesses66025038%Domestic Indirect Taxation662842%Inheritance Tax, Trusts and Estates893742%Human Capital Taxes502040%Taxation of Individuals52934465%Cross-Border Indirect Taxation522038%Taxation of Major Corporates20211255% Awareness – January 2020 152 candidates passed this paper out of a total of 228 sitting the examination. A pass rate of 67%. Awareness – June 2019 139 candidates passed this paper out of a total of 182 sitting the examination. A pass rate of 76%. Application and Professional Skills – January 2020 PaperTotal Sitting ExamCandidates PassedPass RateTaxation of Individuals523262%Taxation of Larger Companies and Groups532751%Taxation of Owner-Managed Businesses21611855%Human Capital Taxes271452%VAT & Other Indirect Taxes171165%Inheritance Tax, Trust & Estates472553% Application and Professional Skills – July 2019 PaperTotal Sitting ExamCandidates PassedPass RateTaxation of Individuals482144%Taxation of Larger Companies and Groups472349%Taxation of Owner-Managed Businesses20612259%Human Capital Taxes311858%VAT & Other Indirect Taxes251456%Inheritance Tax, Trust & Estates462657% In summary, highlighted in green are those that saw an increase in pass rate, whereas those highlighted in red saw a decrease. Some notable papers to mention were Domestic Indirect Taxation and Taxation of Individuals which saw differences of 16% and 14% retrospectively. However, overall, the number of individuals who successfully became fully qualified increased by 92. Pro-Tax would like to wish a huge congratulations to those who received the exam results they were hoping for - it’s a great achievement and a huge weight off your shoulders! Aside from enjoying your evenings and weekends, the benefits of being a Chartered Tax Adviser will soon be seen. If you need career advice around next steps after CTA or salary advice, please do not hesitate to get in touch. For those of you who didn’t get the results they were hoping for, don’t panic or stress. This is a perfect time to reflect, dust yourself off and get ready to smash the exams next time round! If you are not receiving the support you need for your qualification, we are also here to help. For more information on this article or for help with the next steps in your tax career after your CTA results, contact Dominic Watt on 020 7269 6310 or firstname.lastname@example.org.
A record rise in women’s full-time employment opportunities has boosted the UK’s employment rates to a record high of 76.3% in the September to November 2019 period (up 0.5% from the previous quarter and 0.6% higher than the year before). The Office for National Statistics (ONS) have released their findings for the previous quarter which show that 126,000 more women worked in a full-time role compared to the previous quarter, meaning that a record 32.9 million are currently employed in the UK. Over two-thirds of this growth has been attributed in the past year from women working full time, says ONS head of labour market and households, David Freeman. Figure 1: UK employment rate (aged 16 - 64 years), seasonally adjusted, January to March 1971 to September to November 2019 Source: Office for National Statistics The statistics go on to breakdown that the estimated employment rate for men was 80.4%, a 0.1% increase on the year. Similarly, women across the board increased on last year but we can see a massive 1.1% increase comparatively, meaning employment rates for women are now at 72.3%. The increase in women’s employment can be attributed to a couple of notable factors. Partly, it is a result of the changes we have seen to the state pension age for women, resulting in fewer women retiring before the age of 65. Also, there is a decrease in women being economically inactive. Economic inactivity measure people without a job who are not seeking work so are not unemployed. For example, looking after family or the home. Figure 2: Reasons for women being economically inactive Source: Office for National Statistics via BBC Generally speaking, since records began in 1971, economic inactivity has been steadily falling, this tends to be largely due to the rates falling with women. The ONS goes on to show that in the previous quarter (September – November 2019), the estimated inactivity was at a record low of 20.6%. Men were unchanged from the year previous, but astoundingly women hit a new record low of 24.9%; 0.8% lower than the year before. Unemployment is one of the closely-watched metrics that guide the Bank of England in deciding whether to raise or lower interest rates and will be taken into great consideration by the Monetary Policy Committee and their review of cutting the Official Interest rate next week to 0.05%. To view the latest opportunities at Pro-Tax click here, or for a confidential discussion contact Rebecca English on 020 7269 6320 or email@example.com.