2018 Tax Salary Guide

Ian Barker 21.12.2017

2018 tax salary guide for permanent and contract roles in London; niche skill sets and top talent remain in high demand.

Contents:

 

London Permanent Market

  Assistant/Senior (0 - 3yrs) NQ/AM (2 - 6yrs) Manager (4 - 8yrs) Senior Manager (6+ yrs) Head of/Director (9+yrs)
  £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary)
  FTSE FS SME Big 4 Top 100 FTSE FS SME Big 4 Top 100 FTSE FS SME Big 4 Top 100 FTSE FS SME Big 4 Top 100 FTSE FS SME Big 4 Top 100
Corporate Tax 35k - 45k 35k - 45k 32k - 45k 28k - 39k 26k - 37k 48k - 60k 48k - 65k 45k - 55k 44k - 55k 42k - 52k 60k - 75k 65k - 80k 55k - 70k 55k - 70k 45k - 65k 75k - 110k 75k - 120k 70k - 95k 68k - 110k 60k - 85k 120k - 250k 120k - 250k 90k - 150k 110k - 230k 90k - 150k
Operations Tax   32k - 42k   28k - 39k     45k - 55k   42k - 52k     60k - 75k   54k - 68k     75k - 120k   68k - 110k     120k - 150k   110k - 230k  
VAT 32k - 42k 32k - 42k 30k - 40k 28k - 39k 26k - 37k 45k - 55k 45k - 55k 45k - 55k 42k - 52k 40k - 50k 60k - 75k 60k - 75k 55k - 70k 54k - 68k 45k - 63k 75k - 110k 75k - 110k 70k - 95k 68k - 110k 70k - 90k 100k - 150k 120k - 150k 100k - 150k 110k - 230k 90k - 150k
Transfer Pricing 32k - 42k 35k - 45k 30k - 40k 28k - 39k 26k - 37k 45k - 55k 45k - 55k 45k - 55k 42k - 52k 40k - 50k 60k - 75k 60k - 75k 55k - 70k 54k - 68k 45k - 63k 75k - 110k 75k - 110k 70k - 95k 68k - 110k 70k - 90k 100k - 150k 120k - 150k 100k - 150k 110k - 230k 90k - 150k
Personal Tax   32k - 42k   28k - 38k 26k - 37k   45k - 55k   44k - 55k 40k - 50k   60k - 75k   54k - 68k 45k - 63k   75k - 120k   68k - 110k 60k - 85k   120k - 250k   110k - 230k 90k - 150k
Human Capital Tax 32k - 42k 32k - 42k 30k - 42k 28k - 38k 26k - 37k 46k - 60k 48k - 62k 45k - 55k 42k - 52k 42k - 50k 58k - 75k 62k - 78k 54k - 70k 52k - 68k 45k - 65k 72k - 108k 75k - 120k 70k - 92k 72k - 105k 68k - 95k 115k - 240k 120k - 250k 85k - 150k 110k - 230k 90k - 150k

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South East Permanent Market

  Assistant/Senior (0 - 3yrs) NQ/AM (2 - 6yrs) Manager (4 - 8yrs) Senior Manager (6+ yrs) Head of/Director (9+yrs)
  £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary)
  In - House Big 4 Top 100 In - House Big 4 Top 100 In - House Big 4 Top 100 In - house Big 4 Top 100 In - House Big 4 Top 100
Corporate Tax 30k - 40k 26k - 38k 23k - 33k 40k - 60k 35k - 50k 35k - 42k 55k - 75k 50k - 65k 40k - 55k 70k - 90k 75k - 95k 55k - 75k 100k - 250k 80k - 150k 70k - 120k
VAT 30k - 40k 26k - 38k 23k - 33k 35k - 50k 35k - 50k 35k - 42k 55k - 75k 50k - 65k 40k - 55k 70k - 90k 75k - 95k 55k - 75k 80k - 150k 80k - 150k 70k - 120k
Transfer Pricing 30k - 40k 26k - 38k 23k - 33k 40k - 60k 35k - 50k 35k - 42k 55k - 75k 50k - 65k 40k - 55k 70k - 90k 75k - 95k 55k - 75k 80k - 150k 80k - 150k 70k - 120k
Personal Tax   26k - 38k 23k - 33k   36k - 48k 30k - 40k   50k - 65k 40k - 55k   70k - 90k 50k - 70k   80k - 150k 70k - 120k
Human Capital Tax 30k - 40k 26k - 38k 23k - 33k 35k - 50k 35k - 50k 35k - 42k 55k - 75k 50k - 65k 40k - 55k 70k - 90k 75k - 95k 55k - 75k 65k - 95k 80k - 150k 70k - 120k

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South West Permanent Market

  Assistant/Senior (0 - 3yrs) NQ/AM (2 - 6yrs) Manager (4 - 8yrs) Senior Manager (6+ yrs) Head of/Director (9+yrs)
  £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary)
  In - House Big 4 Top 100 In - House Big 4 Top 100 In - House Big 4 Top 100 In - house Big 4 Top 100 In - House Big 4 Top 100
Corporate Tax 30k - 40k 24k - 36k 22k - 32k 40k - 60k 34k - 43k 30k - 38k 45k - 65k 42k - 55k 40k - 50k 55k - 75k 55k - 85k 50k - 70k 90k - 150k 80k - 150k 60k - 90k
VAT 30k - 40k 24k - 36k 22k - 32k 40k - 60k 34k - 43k 30k - 40k 45k - 65k 42k - 55k 40k - 50k 55k - 75k 55k - 85k 50k - 70k 90k - 150k 80k - 150k 60k - 90k
Transfer Pricing 30k - 40k 24k - 36k 22k - 32k 40k - 60k 34k - 43k 30k - 40k 60k - 80k 42k - 55k 40k - 50k 55k - 75k 55k - 85k 50k - 70k 90k - 150k 80k - 150k 60k - 90k
Personal Tax   24k - 36k 22k - 32k   35k - 42k 28k - 40k   40k - 50k 35k - 50k   50k - 78k 45k - 70k   80k - 150k 60k - 90k
Human Capital Tax 30k - 40k 24k - 36k 22k - 32k 40k - 60k 34k - 43k 30k - 40k 45k - 65k 42k - 55k 40k - 50k 55k - 75k 55k - 85k 50k - 70k 60k - 90k 80k - 150k 60k - 90k

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Midlands Permanent Market

  Assistant/Senior (0 - 3yrs) NQ/AM (2 - 6yrs) Manager (4 - 8yrs) Senior Manager (6+ yrs) Head of/Director (9+yrs)
  £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary)
  In - House Big 4 Top 100 In - House Big 4 Top 100 In - House Big 4 Top 100 In - house Big 4 Top 100 In - House Big 4 Top 100
Corporate Tax 30k - 35k 25k - 35k 20k - 32k 38k - 45k 35k - 42k 28k - 35k 45k - 65k 42k - 52k 38k - 50k 65k - 90k 60k - 85k 50k - 70k 100k - 150k 80k - 150k 75k - 120k
VAT 30k - 35k 25k - 35k 20k - 32k 38k - 45k 35k - 42k 28k - 42k 45k - 65k 42k - 52k 38k - 50k 55k - 75k 60k - 85k 50k - 70k 65k - 90k 80k - 150k 75k - 120k
Transfer Pricing 30k - 35k 25k - 35k 20k - 32k 38k - 45k 35k - 42k 28k - 42k 60k - 80k 42k - 52k 38k - 50k 55k - 75k 60k - 85k 50k - 70k 65k - 90k 80k - 150k 75k - 120k
Personal Tax   25k - 35k 20k - 32k 38k - 45k 35k - 42k 30k - 36k   42k - 53k 38k - 50k   55k - 85k 50k - 70k   80k - 150k 75k - 100k
Human Capital Tax 30k - 35k 25k - 35k 20k - 32k 38k - 45k 35k - 42k 28k - 42k 45k - 65k 42k - 52k 38k - 50k 55k - 75k 60k - 85k 50k - 70k 65k - 90k 80k - 150k 75k - 120k

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North West Permanent Market

  Assistant/Senior (0 - 3yrs) NQ/AM (2 - 6yrs) Manager (4 - 8yrs) Senior Manager (6+ yrs) Head of/Director (9+yrs)
  £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary)
  In - House Big 4 Top 100 In - House Big 4 Top 100 In - House Big 4 Top 100 In - house Big 4 Top 100 In - House Big 4 Top 100
Corporate Tax 28k - 35k 25k - 35k 20k - 32k 35k - 48k 34k - 42k 32k - 40k 45k - 65k 42k - 52k 40k - 50k 55k - 80k 55k - 85k 50k - 70k 90k - 150k 80k - 150k 70k - 120k
VAT 28k - 35k 25k - 35k 20k - 32k 35k - 55k 34k - 42k 32k - 40k 45k - 65k 42k - 52k 40k - 50k 55k - 80k 55k - 85k 50k - 70k 60k - 90k 80k - 150k 70k - 120k
Transfer Pricing 28k - 35k 25k - 35k 20k - 32k   34k - 42k 32k - 40k 60k - 80k 42k - 52k 40k - 50k 55k - 80k 55k - 85k 50k - 70k 60k - 90k 80k - 150k 70k - 120k
Personal Tax   25k - 35k 20k - 32k   35k - 42k 30k - 36k   42k - 53k 38k - 50k   55k - 85k 50k - 70k   80k - 150k 70k - 120k
Human Capital Tax 28k - 35k 25k - 35k 20k - 32k 35k - 55k 34k - 42k 32k - 40k 45k - 65k 42k - 52k 40k - 50k 55k - 80k 55k - 85k 50k - 70k 60k - 90k 80k - 150k 70k - 120k

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Scotland Permanent Market

  Assistant/Senior (0 - 3yrs) NQ/AM Manager (4 - 8yrs) Senior Manager (6+ yrs) Head of/Director (9+yrs)
  £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary) £ (Basic salary)
  In - House Big 4 Top 100 In - House Big 4 Top 100 In - House Big 4 Top 100 In - house Big 4 Top 100 In - House Big 4 Top 100
Corporate Tax 25k - 35k 23k - 35k 20k - 35k 35k - 45k 35k - 45k 33k - 42k 42k - 55k 42k - 55k 40k - 50k 60k - 85k 65k - 90k 45k - 65k 70k - 120k 80k - 150k 70k - 100k
VAT 25k - 35k 23k - 35k 20k - 32k 35k - 45k 35k - 45k 33k - 42k 42k - 55k 42k - 55k 40k - 50k 60k - 85k 65k - 90k 45k - 65k 65k - 90k 80k - 150k 70k - 100k
Transfer Pricing 25k - 35k 23k - 35k 20k - 32k   35k - 45k 33k - 42k 45k - 75k 42k - 55k 40k - 50k 60k - 85k 65k - 90k 45k - 65k 65k - 90k 80k - 150k 70k - 100k
Personal Tax   23k - 35k 20k - 32k   32k - 45k 30k - 42k   40k - 55k 35k - 47k   50k - 80k 45k - 65k   80k - 150k 70k - 100k
Human Capital Tax 25k - 35k 23k - 35k 20k - 32k 35k - 45k 35k - 45k 33k - 42k 42k - 55k 42k - 55k 40k - 50k 60k - 85k 65k - 90k 45k - 65k 65k - 90k 80k - 150k 70k - 100k

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Commentary on Tax Roles and Remuneration in UK for 2018

Overview

Taxation continues to command the headlines; from Brexit and the Paradise Papers to high profile tax evasion and avoidance stories - now, more than before, organisations are identifying tax as a key part of their operational strategy. HMRC enjoyed a successful year, with tax receipts at the fastest level experienced since the recession. Tax take rose by £35.6bn in the 2016/17  year up to £569.3bn, driven largely by taxes that target wealthy individuals. Markets such as Fintech and ‘start-ups’ have seen a notable rise in job opportunities, whereas financial services organisations continue to hire within compliance and regulatory areas. 

Many accountancy firms have maintained heavy investment outside of London, a continuation of the existing shift of their internal dynamics and build a regional footprint. Overall, salaries remained consistent, with incremental increases in pay for specialised roles that demanded niche skill sets still, with individuals with certain key skills securing more premium packages. Competition for top talent remains rife within the tax profession and will continue to do so into 2018 and years to come.

Positive  & negative news 

In the second half of 2017 there was a notable increase in the volume of available jobs in the sector when compared to the first half of the year.This was driven partly by the Big 4 and Top 10 organisations having strong recruitment drives in the year, aiming to expand their niche teams. At the same time, however, there have been redundancies and targeted voluntary redundancies across larger firms. These based on restructuring within certain banks and the closure of London satellite teams or offices to relocate further north to centres of excellence and other compliance hubs. 

Reading and Birmingham remain key focus areas for development and offer genuine career progression and development for those able to relocate or commute. Brexit remains the unpredictable factor on legislation changes and will continue to provide discussion and debate on what future considerations for organisations and job seekers.

Lastly, there continues to be a shortage of talent at the NQ level with no signs of change due to mixed hiring plans at graduate and entry level. On a positive note, average salaries have increased in certain areas and individuals with key niche skills or sector exposure, will continue to have a market advantage.  

Qualities and skills in demand

Specialist and niche skill sets are still in demand as companies look for new revenue streams. Candidates with analytical experience, including but not limited to strong technology skills have been demanded throughout 2017. The rise in tax technologists looks set to continue and job seekers looking to diversify or futureproof their careers should take every opportunity that they can to get involved with their tax teams’ technology offerings, particularly if they do not enjoy or lack the natural ability to develop business. 

In-house compliance and reporting both still remain key, alongside smaller/stand alone positions, valuing a full breadth of experience to maximise their operational input. IT and technology sectors are notably driving this type of hire. Big 4 in London continue to focus on high margin areas, with a maintained focus in the regions on low value/compliance work. A spike has been noted in in-house employment tax roles as large companies invest for the first time in a specialist resource. 

Outside of work

The ACA and CTA generally remain the most ubiquitous and recognised qualifications in tax.  The joint programme between the CIOT and ICAEW continues to gain momentum. Equally, ICAS’s introduction of the tax qualification ITP will see more professionals within the sector with a pure tax qualification. Those candidates working in niche/specialist areas may want to consider specific qualifications such as the ADIT, Enrolled Agent (EA) or STEP. 

In a competitive market, furthering your qualifications is never going to harm your promotion or pay rise prospects. Additionally, candidates need to upskill themselves in the latest tax technologies as this will continue to grow in importance as processes are increasingly automated. Organisations are continuing to adapt to the challenges of retention and have recently moved to a far more agile working environment and flexible promotion cycle.

Notable trends

Diversity and inclusion is the topic that continues to take centre stage in recruitment and strategy for many businesses across the UK. This is not merely lip service; for many of our clients this is still the single, most important focus in their hiring strategy going into 2018, with many setting targets for the diversity of their workforce and leadership teams to be achieved by 2020 and beyond. Many have altered entry level requirements for trainees and shortened interview processes in order to secure the top talent first. 

Newly qualified candidates remain simultaneously the most elusive and the most in demand, with multiple examples of large corporations hiring candidates for permanent positions on the (two-year) Tier 5 Visa, having exhausted their options (or patience) in searching for a UK trained equivalent. The fact that so many companies are showing willingness to pursue this option demonstrates the shortage of UK trained candidates emerging from training contracts. Employers are changing their methods and overall ability to invest in the training of bright and capable non-UK trained candidates, and perhaps these are the first signs of a shifting perception in what constitutes a reasonable period of time for a permanent ‘Millennial’ hire to stay in a role.

Ian Barker's picture
UK Director - Professional Services (Taxation, Audit, Legal)
ibarker@morganmckinley.co.uk

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