We held focussed conversations with our key stakeholders across the tax sector and reviewed our data on live tax vacancies that have arisen across Commerce & Industry, Financial Services and Professional Services in Q1 of 2023 in order to provide insights into the current market and identify up-to-date tax recruitment trends.
The tax recruitment market is known for its cyclical nature, with periods of high demand followed by slower periods of hiring. This pattern is often influenced by a variety of factors, including changes in tax regulations, economic conditions, and shifting industry priorities. In recent years, the tax recruitment market has been particularly active, as companies across industries have prioritised tax compliance and strategy in the face of ever-changing regulations in a post pandemic boom of activity.
Our data has shown that 2023 has not hit the highs of last year and we have seen a slowdown in tax recruitment activity in comparison to 2022. Whilst the frenzied high-volume recruitment of 2022 appears to have cooled off, it’s clear that the market is still buoyant in certain pockets and we’re now seeing our clients focus on strategic senior hiring in areas that are still busy or expected to grow in the 2nd half of 2023 and beyond.
We identified 585 new tax vacancies that were released into the market in Q1 of 2023. The breakdown of the top 3 organisations, skills and industry sectors relating to these roles were…
In conclusion, whilst we have seen a slowdown in tax recruitment activity compared to 2022, there is still significant movement with in-house opportunities currently exceeding roles being advertised in practice and notable spikes in demand for Corporate Tax, VAT and Transfer Pricing professionals. We’re confident that organisations who invest in strategic senior hires now with an eye on the future will be extremely well placed to reap the rewards further down the line.
If you would like to discuss our findings in more detail, please feel free to contact:
Author: Graham Young – Director
Tel: 020 3826 8832