Complexity of tax code behind 10pc jump in accountants’ pay

Ben Southwood
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TAX ACCOUNTANT pay packets are being lifted in 2013 by the demands of an increasingly labyrinthine tax code, according to data out yesterday.

Average pay grew 9.7 per cent between 2012 and 2013, numbers from financial recruitment specialist Marks Sattin showed, from £72,600 to £79,670. This overall figure was made up of a £68,299 salary combined with a £11,331 bonus.

The gain did not come from a few big payouts: around 63 per cent of tax specialists got a pay rise and 64 per cent enjoyed a bonus.

The increases came as the government added, or planned to add, hundreds of provisions to the already bloated UK tax code, the recruiter said, making tax specialists’ skills even more hotly demanded.

“The years following the banking crisis have seen a huge increase in compliance, regulation and tax which has driven demand for tax accountants,” said Marks Sattin associated director Oliver Phoenix.

“Companies need highly specialised advisers to help manage their liabilities sensibly.”

After this latest rise, tax accountants’ pay is 6.1 per cent above the average for an accountant, which stood at £75,059.