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About In House Tax

About In House Tax

This weblog is a news and views site for tax professionals within the UK and international in-house tax community.  You will find information about appointments and people moves in and around the in-house tax market, issues affecting the in-house tax professional, opinions on the state of the tax job market, updates on tax technology, and other general thoughts of the day.

Hope you find it useful.

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Location: St Albans, United Kingdom

This site has been developed by Simon Godley, who also runs the niche tax recruitment company Talentpool Selection . Simon spends a lot of his time placing tax specialists into FTSE companies, large in-bound groups and some professional services organisations. He also recruits and is well networked around the UK tax technology and VAT markets.

Tax News

UBM follows Shire's tax move to Ireland

Wednesday, 30 April 2008

Various tax news websites are reporting today that United Business Media (UBM) is doing the same as Shire Pharmaceuticals, incorporating in Jersey and being tax resident in Ireland, with a FTSE listing. Although some camps are calling this blatant tax avoidance, I don't blame them if it is not clear how foreign profits are taxed in the UK, particularly if 85% of your profits are outside the UK. I don't think UBM will be the last FTSE group to announce this type of restructure.

Click here for the full announcement.

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posted by Simon Godley

Tax Jobs - Weekly Highlights

Thursday, 24 April 2008

The theme for this week is very much in-house indirect tax roles. I am currently working on 3 VAT/Indirect Tax Manager positions with large group companies. These roles will be mostly focused on VAT, but some roles can include other taxes e.g. PAYE/employment taxes or very specialist areas such as stamp duty or landfill tax. Because of the specialist knowledge and experience involved, there is usually a scarcity of candidates with the right skills.

A couple of examples are:

Indirect Tax Manager - Thames Valley
Click here for more info

VAT / Indirect Tax Manager - Surrey
Click here for more info

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posted by Simon Godley

Shire Holding relocation - more tax insight

Wednesday, 23 April 2008

Further to my article last week about Shire changing its residency to Ireland from the UK, an article from sheds a little more light on the tax background to the decision. The article also mentions that c.200 companies have relocated their HQ in the last 10 years, which seems a lot more than I thought. I suspect that this number includes US parent groups that have moved their European HQ from the UK to somewhere in Europe, and not purely UK listed groups.

To read the full article, click here

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posted by Simon Godley

FTSE 100 Shire relocates to Ireland for tax purposes

Thursday, 17 April 2008


The Confederation of British Industry has raised concerns about the UK's anti-competitive tax regime after Shire announced it would relocate to Ireland where tax rules are more favourable for business.

Richard Lambert, CBI Director-General, said: 'We are particularly worried that an uncompetitive corporate tax system is spoiling the UK's attractiveness as a place to do business, and that other internationally-mobile firms will follow Shire's path.'

FTSE 100-listed Shire, the third-largest pharmaceutical firm in the UK, is set to pay significantly less tax by becoming a tax resident in Ireland.

The company re-assured market concerns over the change of residency, saying the change would not affect Shire's UK operations or workforce. But this will mean a loss of income for the Treasury, the Telegraph reported.

A company statement said: 'Shire has concluded that its business and its shareholders would be better served by having an international holding company with a group structure that is designed to help protect the group's taxation position, and better facilitate the group's financial management.'

SG comment: I can't think of any other FTSE listed group to announce this sort of change of residency for tax purposes, it will be interesting to see if any other UK groups follow suit.

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posted by Simon Godley

Are there any tax runners out there?

Wednesday, 16 April 2008

Further to my posting in February about running the London Marathon this year, just thought I would update on that. I did complete it in 5 hours 10 mins. Being my first Marathon, I found it very hard, particularly the 16-24 mile stretch, which is both physically and mentally tough.

It was an excellent experience, and I hope I get chance to do it again.

Would love to hear from any tax professionals who were running on Sunday.


posted by Simon Godley

BP uses internal tax faculty as recruitment tool

Wednesday, 9 April 2008

I only became aware recently that BP had set up an internal tax faculty to help with both attracting new talent into their tax team, and for longer term retention of people. The BP tax team is very large, with something like 150 in-house tax staff, so I guess having a dedicated tax faulty within the company can be easily justified.

Their Corporate Tax Director, John Bartlett, initiated this 2 years ago. Like most large corporates, they were struggling to recruit high calibre tax professionals from the external market. "The tax recruitment market had evolved and we could no longer rely on the professional firms and Revenues releasing a stream of talented individuals into industry," Bartlett said.

The tax faculty is based within BP's already established virtual university. Here tax professionals can develop their skills from classroom-based courses, self-led modules and on-the-job training.

"The financial reward package is always important but in an increasingly transparent market, it can be a given with candidates already knowing the salaries that are generally available," Bartlett says. "Now candidates want to know where the job might lead, the variety of progression opportunities and what track record the company can demonstrate of realising them for its people."

BP's programme offers career development frameworks that will seek to motivate and develop a tax professional comparable to that of practice Bartlett explains.

To date, the programme has been a roaring success, one that Bartlett describes as 'very powerful' in attracting and retaining tax staff all over the world especially lesser known tax networks including Russia, Vietnam, Korea, Azerbaijan and Indonesia.

From past experience, I know that BP have never really had a problem with retaining tax staff. Because of the massive size and scale of the global group, they have been able to offer tax professionals a career progression plan, including secondments to other parts of finance and overseas placements, which is always an effective retention tool. However BP's method is easy to replicate and other multinationals such as Shell and GE have also established their own tailored versions.

The above quotes come from the article "The tax talent pool is diminishing" by Jo Faith in the April 2008 issue of International Tax Review (

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posted by Simon Godley

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