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Speaking at the launch Irish Tax Institute President Bernard Doherty said “There are real opportunities in tax for those who already have legal qualifications. Law and tax are inextricably linked so there is a natural synergy here; in fact the Heads of Tax in the top 5 legal firms in Ireland are AITI Chartered Tax Advisors”.
Number of law graduates studying tax has increased by 420%
Mr. Doherty said the Irish Tax Institute had seen a major increase in the number of people with a legal background who had enrolled for their AITI Chartered Tax Advisor qualification. “The number of law graduates studying at Irish Tax Institute has increased by 420% in the last 4 years. We are currently enrolling people for our AITI autumn programme and already the legal numbers are very strong again this year”, he added.
97% employment amongst tax graduates
He said: “97% of AITI Chartered Tax Advisors who qualified in the last 4 years are employed. The vast majority of them are under 30 and a very significant number have already been promoted to manager positions. The latest National Skills Bulletin published in June found that Ireland has a skills shortage in tax. The market is wide open”, said the Irish Tax Institute President.
Tax advisors being real value to a legal practice
Martin Phelan is a Tax Partner with William Fry Solicitors. As Head of Tax with the firm he emphasised the value of tax advisors in a leading legal practice: “The tax department in a legal firm plays a very prominent and central role in the firm. Tax is one of the few departments that interacts with every other department on a daily basis. Take corporate law, employment law, litigation, corporate restructuring and insolvency; they all have a tax implication. A legal professional with an AITI Chartered Tax Advisor qualification provides a bridge between the legal world and the fiscal world”, he added.
Carol Hogan is one such professional. An Associate with William Fry Solicitors she holds Bachelor of Civil Law, a Masters of Laws (Commercial) and an AITI Chartered Tax Advisor qualification.
“I am a solicitor and an AITI Chartered Tax Advisor, a real advantage when you’re working in a busy legal firm where the day-to-day issues are so varied. The majority of legal decisions have a tax implication, be that a personal life decision or a commercial decision. The AITI qualification has equipped me with both the professional and real-life skills necessary in a tax adviser role and my in-depth knowledge of Irish tax legislation gives me the authority and confidence to advise on complex matters on an international scale”.
Tax fits comfortably with those who have a legal qualification
Martina O’Brien, Education Director at the Irish Tax Institute said the AITI Chartered Tax Advisor qualification fits comfortably with those who have a legal qualification. “Tax is law and this is why a career in tax is suitable for those from a legal background. All tax advice and opinion is based on tax legislation, case law and precedents from wide-ranging sources that include everything from Finance Acts and OECD guidelines to EU Directives and European Court of Justice rulings”, concluded Ms. O’Brien.
Pictured at the launch of new Irish Tax Institute Legal Scholarship for solicitors and barristers seeking employment are (l to r): Olivia Buckley, Director of Communications, Irish Tax Institute; James Somerville, Tax Partner, A&L Goodbody; and Carol Hogan, Associate, William Fry.