Corporatr tax vs indirect tax - PwC graduate

Lily_2012

I'm thinking of submitting an application for the PwC Graduate scheme for tax. I'm still quite undecided about whether I should apply for the Corporate Tax scheme or the Indirect Tax scheme.

Any opinions or advice?

Reply 1

Tokyoround

16

Original post by Lily_2012

I'm thinking of submitting an application for the PwC Graduate scheme for tax. I'm still quite undecided about whether I should apply for the Corporate Tax scheme or the Indirect Tax scheme.

Any opinions or advice?

CT gives greater scope to move to something else. Indirect tax typically means you will be doing VAT reclaims for the rest of your life.

Reply 2

GR3YFOXXX

13

Original post by Tokyoround

CT gives greater scope to move to something else. Indirect tax typically means you will be doing VAT reclaims for the rest of your life.

Not true at all, I actually work in indirect tax and whilst I've done a couple of voluntary disclosures (2 in the past 6 months) most of our work is actually transactional advisory work. This mainly includes TOGCs, commercial property transactions, due diligence, advising on leases and purchase, high value imports/exports. We often provide advice to financial services, particularly in relation to funds and pensions management, this is due to the partially exempt status of the companies. Indirect tax actually has a lot less compliance work than CT or personal tax.

(edited 11 years ago)

Reply 3

Lily_2012

OP

Which one of these provides more opportunities for career progression? And would Corporate tax involve working with more corporate clients?

Reply 4

GR3YFOXXX

13

Original post by Lily_2012

Which one of these provides more opportunities for career progression? And would Corporate tax involve working with more corporate clients?

It all depends really, everyone paying VAT will be a business or charity. This could be a sole trader, a partnership, a limited company, a PLC or a charity.

The only entities that will be paying CT will be business'/charities, but these will only be PLCs and Ltds.

The size of your clients will depend on the size of your firm. If you work in a Big 4 firm all of your clients, in either service line, will be the larger players in a specific market. Within my firm (big 4) we pretty much share clients bar a few exceptions.

Both service lines pretty much offer the same opportunities within practice, i.e. stay on and hope you make partner. Industry on the other hand could be different, but as I'm still in practice I couldn't possibly speculate.

(edited 11 years ago)

Reply 5

Tokyoround

16

Original post by GR3YFOXXX

Not true at all, I actually work in indirect tax and whilst I've done a couple of voluntary disclosures (2 in the past 6 months) most of our work is actually transactional advisory work. This mainly includes TOGCs, commercial property transactions, due diligence, advising on leases and purchase, high value imports/exports. We often provide advice to financial services, particularly in relation to funds and pensions management, this is due to the partially exempt status of the companies. Indirect tax actually has a lot less compliance work than CT or personal tax.

I guess things are different at your firm. I'll be honest and say I don't know much about what the indirect tax guys in my team do but it seems to be a hell of a lot of reclaims and a little bit of what you mention bar due diligence, but only from a VAT perspective.

Reply 6

InterviewAdvice

1

You guys who are working in tax may say otherwise, but I would expect the Indirect Tax department to have staff from a wider variety of backgrounds ( Customs and Excise etc) whereas Corporate Tax Dept will be mainly home grown or other Big 4. In my experience, this can lead to very different cultures.

Corporatr tax vs indirect tax - PwC graduate

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