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EY’s FS Direct Tax practice offers our professionals the chance to work within the fast paced and dynamic world of taxation; an area which continues to generate ever greater political and public interest. With clients that range from aspiring entrepreneurs to long-established worldwide financial services organisations, we play a pivotal role in supporting our clients’ business agenda through helping them navigate the complex and swiftly changing demands of national and international tax legislation. In this evolving environment, the challenge for our teams is to develop service offerings which continue to meet and ultimately exceed our client’s expectations, and helping them achieve their business goals, whether through global compliance projects with EY offices from multiple countries working in tandem, or tax advisory services as clients require assistance negotiating complex and high profile transactions and tax planning projects.
What will my day be like in Financial Services Direct Tax?
As tax and regulation around the world continues to develop rapidly, our teams across Direct Tax are positioned to help our clients negotiate all stages in their commercial lifecycle. From advising start-up Asset Managers on the most efficient way to structure their business from a tax perspective, producing a technical paper covering various jurisdictions on the implications of a high profile banking transaction or merger, through to working with clients to develop a sustainable model to meet the many tax reporting and compliance obligations resulting from operating in the contemporary business environment; there is a huge range of work for our people to be involved in, and areas of work to suit all types of individual and skillset; EY prides itself on the depth and variety of talent that its people have to offer.
FS Direct Tax focuses on three key sectors: Banking & Capital markets, Wealth & Asset Management, and Insurance. Within these sectors, our specialist teams provide services across the various areas of the practice:
You will be encouraged to adopt a global mind-set as you embark on your career with the firm; an approach which reflects both EY’s strategy and the majority of our clients in Financial Services. You can expect to work regularly with international EY teams, developing relationships with colleagues around the world, while there are also various opportunities to participate in international assignments ranging from placements with our Global Talent Hub in India through to working on the international tax desk in New York.
What training and development will I receive in my first few years?
Our training programme is designed to provide you with an intensive but ultimately rewarding combination of real work experience while also studying towards your professional qualifications.
Throughout the 3 years you will receive ongoing mentoring and coaching, while also developing relationships across your area right up to the Partner level, and ultimately your clients. Typically, a trainee might spend more of their first year gaining experiences from partner shadowing, working directly with Senior Managers and Managers, and minute taking at client meetings. As you develop your skills, you will be encouraged to fully contribute to and in some cases even lead meetings with senior EY and client figures, while also taking responsibility for producing client work and advice prior to senior review.
In addition to the many on-the-job experiences you can expect, there are various structured learning programmes from both internal trainers and external providers which will take place. These will range from basic progressing to advanced corporation tax courses, right through to more widely applicable skills based courses such as the popular ‘Confidence with Clients’ intensive course which gives trainees the chance to develop their client interaction, problem solving and presentational skills through developing a proposal for real life volunteer clients from the charitable sector.
You’ll be working towards a qualification with either the Institute of Chartered Accountants of Scotland, or the Institute of Accountants of England and Wales, with the option of also studying for Chartered Tax Advisor status.
What opportunities would Financial Services Direct Tax open up?
EY is proud of its extensive alumni network and the number of individuals who have gone on to be industry leaders. Completing your training contract within the Direct Tax practice in conjunction with the ICAS qualification will not only provide you with an outstanding grounding from which to pursue your future career in tax, but also the wider world of business in general.
From the moment you qualify there will be various opportunities open to you, with the structured nature of the programme providing you with the necessary platform to choose the specialism which most suits your skillset and interests. These opportunities will include areas such as:
You are eligible to apply for this programme if you are studying for an honours degree or have graduated with an honours degree.