A Day In The Life Of A Tax Trainee
Claudia joined MFW as a trainee straight from school. She has been with the firm for five years.
Why train at MFW?
MFW offers a good training plan, which has enabled me to experience many different types of work within the first three years of working at MFW. MFW have paid for me to complete my AAT qualification and now my ACA/CTA joint programme.
I have been able to gain a wide range of skills in different departments including accounts, payroll, audit, corporation tax and personal tax.
What do you most enjoy about your role?
I like that the office environment is friendly and inclusive, everybody will talk to each other and offer support where needed. I also enjoy that I am pushed on a daily basis to perform better and further my knowledge and skills within the department I am working in.
I like that I have a wide range of tasks that I have to complete. This means that I am not completing the same work repeatedly. I am constantly learning new things and developing my skills through my diverse workload.
What duties does your job include?
I am currently overseeing Corporation Tax compliance. This includes running monthly reports to identify tax returns that are due that month, as well as the payment deadlines for Corporation Tax. I generate Corporation Tax returns, send them out to clients for approval and submit them once approved.
I review Corporation Tax returns that have been prepared by the accounts department and help with any queries that they may have concerning the treatment of certain items for tax purposes.
As I work across the tax department, gaining experience of all tax work, I also prepare Self Assessment tax returns. Once reviewed by the tax manager, I send them out for approval and submit them when the client responds.
Why do you want to become an accountant /tax advisor?
I have always been interested in working with numbers. I have always enjoyed making plans and budgets for anything I am doing. This is what made me choose a career in accountancy to start with.
When completing my training programme, which was a rotation around the different departments within MFW, I enjoyed the tax department the most. This is what made me pursue my CTA qualification and become a full time member of the tax team.
Why did you chose to train with MFW?
MFW provide an in-depth training programme, which provides insight in to a wide range of areas that one can pursue within accounting. MFW also support the trainees through completing their AAT qualification and then their choice of professional qualification. Whilst the trainees are on an apprenticeship scheme, we are not paid as apprentices, which is another reason that I chose MFW.
What are the benefits of training with MFW?
You are allocated a mentor manager who supports you throughout your training. You are given time to attend college, have study leave prior to an exam and, time to take exams as part of your contract.
The partners and managers are always available to offer support when I need it, whether that is in person or, by phone, if they are working from home.
Where are you in your training/career and what is next?
Once I have completed the ACA/CTA joint programme I will be a Chartered Accountant (ACA) and a Chartered Tax Adviser (CTA). My next exams will be the advanced level of the ACA, followed by my specialist subject for CTA.
What advice would you give to a new trainee or someone interested in a career in accountancy/taxation?
Keep up to date with the spring/summer/autumn statements that are announced, as these give an insight into changes to legislation and the way we will be accounting for things in the accounts and tax department.
What is the social life like at MFW?
We have many social events throughout the year. We have a sports day in September, a quiz in November, Christmas dinner in December and an annual dinner in May/June.
In addition, there are welfare webinars provided to us that look at lots of different things, from pressure and stresses at work, to mindfulness.