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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

SAO Regime - Tax Systems opportunities

Monday, 12 April 2010

By Simon Godley

Whilst I sense that the Senior Accounting Officer (SAO) legislation, in which all FDs of companies with UK turnover of over £200m have to annually certify the accuracy of their tax reporting systems or face personal penalties, is moving up the financial agenda and maybe being taken more seriously by FDs/Heads of Tax, this has had so far very little impact on in-house tax teams needing to hire someone to do a review.

In the last 12 months since the note on this appeared in the pre-budget report, I have seen no more than 3-4 situations where a company which is affected by the legislation actually actively seek to recruit a tax auditor / accountant to perform a tax systems review. This is possibly not a major surprise as:

a. we have been in a major recession and companies have severely struggled to increase headcount within an in-house tax function, for both perm and temp roles

b. where a company has a well established in-house tax function, someone within the department has had to take on this review work in addition to their usual duties

c. a number of companies will get their regular accountants / tax advisers to do a review of this, possibly as part of a tax audit

I suspect more contract roles will appear for this type of review work over the next 12 months, as this issue climbs up the financial reporting agenda.

In the meantime, I am working on one specific SAO related Tax Accountant role with a London based financial services group. This is looking for someone to work on an initial 3 months project to assess and make recommendations on accuracy of tax data in the accounting system. The company is happy to pay up to £600 per day, and so any interested parties should contact me on to discuss further.

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posted by Simon Godley

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