logo

Real recruiters headhunt

Author: SRM Recruitment

Posted on

Moving between in-house and practice

More London moving between in-house and practice

How has Chris McCandless, Associate Partner at EY, moved between in-house roles and practice and what can fellow tax professionals learn from his career? We spoke to Chris about the naysayers who questioned his focus on tax process and technology, the importance of mentors and the changing skills needed for a successful career in tax.

More London switching between in-house and practice

Top career tips for tax professionals

“Like a lot of career moves, my first big break was about being in the right place. I was offered a secondment into Barclays whilst still working in profession: focusing on tax process, technology and compliance.  

Lesson one:
Being well networked is key, many opportunities are random, the more people you know the more likely you’ll get those chances. 

In many ways, it was a natural shift from practice and there were similarities between working at a practice firm and Barclays in terms of the challenge, people and size of the team. However, it’s impossible to understand what it’s like to navigate the complexities of working in industry, from politics to navigating how you actually get things done, unless you actually try it!

Lesson two:
Create an opportunity to work in industry, it will enable you to better solve clients’ problems. 

My first stint at Barclays gave me the chance to basically rebuild part of the department. It was a huge motivator to me, using what I knew but learning new skills at the same time. I’ve never forgotten the tax director who gave me that opportunity.

In practice, I did enjoy tax advisory and the legal side of things but I was really drawn to the process. People thought I was mad! 

A lot of people I know who work in practice see themselves as ‘the tax law guy’ or the ‘technology person’ but in industry, it’s harder to separate out.

What tax professionals do in industry every day as part of the tax process is a combination of looking at the law, sourcing data and using technology. I liked that fusion of both law and tech. It’s still a relatively unique set of skills having that blended, holistic approach to tax. That has underpinned my career.

Lesson three:
Be a rounded tax professional not just the ‘tax law person’

After we developed the tax team at Barclays and the transformation element eased off, I wasn’t quite ready to focus on a business as usual role and went back to Deloitte to apply my learning to other clients.

Four years later I had the opportunity to meet the new tax director at Barclays. He’d just moved from GE and was very focused on tech, process, controls and risk management. He gave me the opportunity to set up a change and technology function to serve Barclays globally. It was one of the most enjoyable roles in my career.

Lesson four:
Make friends, Chris met the tax director through one of his friends from his first stint at Barclays 

The role was very similar to working in professions as I had to sell ideas, present a vision, convince people to spend money and get projects delivered. I moved away from tax during that time. 

I had the opportunity to work on an operating model transformation project – bringing teams together and centralising functions. At the end of that project, the then head of tax said why don’t you lead both the tax and change teams? I thought about it over the weekend and threw myself into it feet first!

On paper, I’d never have got this job. He recognised my blend of technology and tax skills when people were saying: “I didn’t even know you were a tax person Chris!”

Lesson five:
Be bold – take a business risk with your career and give stretch opportunities to people in your teams.

That role was a validation of the skills required in a 21st-century tax department. The last ten years have really seen a shift from tax planning to tax professionals becoming managers of risk and it’s also become incredibly data-driven and tech-focused.

So the people you need to staff a tax department changed and is still changing. My blend of skills were suddenly really in demand. The naysayers definitely thought the decisions I was making were odd but this job really brought everything full circle.

This role took me back into practising tax at a time of huge cost pressures. I was constantly challenging how things were done and using technology and data to help us survive when headcount was reducing but work was increasing.

I was then able to hire more tech people and systems administrators which was a different dynamic. Now you need tax people who understand tech, that is key. A balanced team with a variety of perspectives is crucial.

You will see a lot of things like this through your career that make you think “I never understand why we do it this way.” Call those things out. That’s career-defining.

Lesson six:
Challenge the status quo, most careers are made on the 5% that was exceptional and that takes a different way of thinking. 

I then took some time off when my wife was unwell and when I started looking for new opportunities I saw that EY had just made a £1bn investment in tech and artificial intelligence (AI). This was very appealing to me – I’ve been there 10 months now as a partner focusing on tax and transformation.

Client needs are shifting and the tax skills of old are no longer enough. One of the things I’ve done is work with our data analytics team to bring together the skills within tax and AI. It’s a different approach to just leaving tax people to figure out AI! This is a new recruitment focus for us.

Tax is changing and the world of today is not what it will be in five or ten years. Embrace the opportunity to learn. Be open-minded – our job is to help clients so don’t worry about where the line sits between tech and tax.

Lesson seven
Be open to change, whether you’re looking for a role or hiring for your tax team

I’m in formal mentoring schemes at EY now – but actually it doesn’t have to be a formal relationship for you to get that much needed sounding board. I have several mentors – although none of those people might recognise that officially.

I go for a drink with a work friend and that’s a mentor relationship to me. Almost without exception, everyone says yes to going for a drink or to formal mentoring. It’s important not to have a self-imposed barrier, thinking you aren’t good enough to talk to senior people. Everyone is there to do a great job and you have permission to do a great job too.

Reverse mentoring with those at an earlier career stage can also be extremely valuable. I had an 18-year-old colleague who I supposedly mentor but her perspective is so different to mine that she’s actually been an amazing mentor to me.

Lesson eight
Draw on an eclectic mix of mentors – don’t get lost in the Canary Wharf bubble

Despite tech being at the heart of tax now, it’s important not to forget the impact on people. There’s such high competition to recruit the best graduates and the best tax professionals that being able to use tech to improve the employee proposition is critical. Even down to taking out some of the less enjoyable parts of the role – this really helps with retention. No one wants to sweat over a spreadsheet anymore.

In summary, the key thing I’ve learnt through my career is that it’s our job as tax professionals to solve problems – it could be data or legal. Keep that focus and put people and relationships at the heart of what you do and you’ll be successful.

I would also say embrace tech and data – it’s not going away. Using AI to drive things like tax classifications is reducing risks for clients and we’ll see more of this. The opportunities are endless.”

Read more about successful leaders – follow Chand Chadasuma’s advice on rising to partnership level in corporate finance.  Or if you feel ready to discuss your next career opportunity in Tax, or you’re looking for talent to fill a role in your organisation, please get in touch with Rory MacSween, Director, Tax Recruitment today on +44 (0) 20 3637 7808 or connect with him on Linkedin.

Articles you may like

Seven ways to tackle unconscious bias in tax and finance
Lessons learned from a career in tax from Henning Lauritsen
The future of tax

Posted on

Recruiting and retaining staff

recruiting and retaining staff merry go round

With over 13 years’ experience recruiting into the financial services industry, SRM Recruitment Co-Founder Rory MacSween is familiar with the ‘merry-go-round’ effect that bonus season often creates on staffing. Who better to ask about recruiting and retaining staff in bonus season? Learn how your firm can make the most of this candidate-rich market whilst retaining your top talent.

How does the recruitment market change at this time of year, Rory?
After any big holiday period, but particularly after the Christmas holidays, there will be a surge in enquiries from potential candidates, looking for a new opportunity. People have had time to reflect on what they really want from their job, and start to put the feelers out for what else could be out there, in terms of a new challenge.
This time of year is particularly busy because there are a lot of candidates pre-empting the conversation they expect to have with their manager about their bonus, pay rise and promotion. If they are in any doubt that the result won’t be what they want, they are preparing to find a better package elsewhere.

The impact of all this cyclical change on a small team can be particularly hard, so it’s important to understand what’s going on and to anticipate the trend.

Is it any different this year?
I think this year does feel different. We’ve had a lot of political and economic uncertainty over the last few years which has negatively impacted confidence among candidates and clients. It’s hard to make a sweeping statement across financial services, but our tax clients seem more positive now – they’re interested to see what impact our departure from the EU will have on legislation and recruitment seems stimulated by a need to understand that change.

The renewed positivity has increased candidate confidence. With less concern about being ‘last in, first out’, thanks to improved stability, candidates are feeling more inclined to put their heads above the parapet to see what opportunities are out there.

The net result is that in some markets, particularly for more senior roles, there is an increasing volume of very high calibre candidates, making it a very competitive talent pool.

So now would be a good time to bring in new talent?
Yes, absolutely. In smaller firms, where there are fewer opportunities for progression or sideways moves, there are certain roles you know will have a relatively high turnover. Anticipating this departure and planning your recruitment to make the most of this candidate-rich period can be advantageous. Similarly, you may be aware of people showing a higher likelihood of ‘flight risk’ when bonus, promotion and pay rise news is shared.

What about the staff I want to keep? How can I retain my top talent?
If you are aware that an employee is likely to get a less-than-desired bonus or will be overlooked for promotion, you should be having a conversation with them well in advance about that situation. If individuals are disillusioned with their prospects at your firm, it’s important to talk openly about what can be done to improve them, laying out a pathway for progression.

Your most talented employees should not have to wait until they resign and get a counter-offer from you to understand the value they bring to the organisation. Appraisals should be done regularly, throughout the year, and not just annually, so that both parties can share their expectations of each other.

How can SRM Recruitment help?
Our offering is based on a consultative relationship with our clients and candidates. It’s important that we fully understand your needs as early as possible so we can help you devise your recruitment strategy around these cyclical trends.

With a wide range of clients across the industry, we’re also well-positioned to offer advice on salary and benefits benchmarking, to ensure that you are best placed to retain and attract the talent you need.

If you would like to discuss your hiring needs with me or any of the SRM Recruitment team, we’d love to chat – just get in touch.

Posted on

Video – A Career Beyond Accountancy

career beyond accountancy

Accounting provides a strong grounding for a wide range of careers in finance. In this video interview, we ask Richard Nordgreen, Head of Investments at Proseed Capital how he made the transition and progressed his career beyond accountancy, and what advice he has for someone wishing to follow in his footsteps.

https://www.youtube.com/watch?v=duN4pw70RK8&feature=youtu.be
Richard Nordgreen, Head of Investments at Proseed Capital
Posted on

What to do if it’s time to move on

what to do if it's time to move on

The ‘New Year, New You’ messages have barely died down before the bonus and promotion season gets started in many industries. For those who miss out on the pay rise, the bonus or the promotion they were hoping for, it can seem like the ideal time to look for a new opportunity. But with so many other candidates having the same idea, is it really the best time to move on? We ask Rory MacSween, Co-Founder at SRM Recruitment, for his advice on what to do if it’s time to move on.

  1. Talk to your manager
    Don’t wait until your resignation to negotiate your position at your current firm. While the grass may seem greener at another organisation, a new opportunity in an environment you’re familiar with may be a great chance to realise your potential without having to enter a crowded market. If your concerns are purely remunerative, talk to your line manager sooner rather than later. If you wait to take a counter-offer when you resign, you could tarnish your name in the organisation.

    Have regular discussions with your manager about what their long term plans are for you. It’s not something you should do three months in, but if you’ve been with an organisation over a year, it’s a good idea to regularly challenge your manager so that you both understand each other’s expectations. Those conversations can build a healthy relationship that could make the difference between staying or looking elsewhere.
  2. Talk to your peers
    If you’re experienced in your field, it can pay to have an informal chat with people outside the organisation that you have a good relationship with. These are likely to be senior advisors who might have insights into the market or their own network where hidden opportunities could lie. Maintain a relationship with these people and you may hear about a role ahead of the curve.
  3. Partner with an expert
    Recruitment consultants have access to a network of opportunities that are not widely available publically. Speak to colleagues who’ve left your organisation and have experience in the recruitment market who can give you the names of trusted partners and agencies.

    Once you’ve found one or two that sound promising, have a non-binding conversation with them to get an understanding of which agency will represent you best in the market. Bring a list of your ‘dream organisations’ and see whether they have a relationship with those firms, or whether they know that company’s current hiring strategy. If they don’t, they might not be the right agency for you. Be selective – it’s very off-putting to a hiring manager to see your CV come from multiple sources, as it shows your lack of control over your search.

    Don’t wait until the 11th hour to find the right partner for you. It takes time to build a good relationship with a recruitment consultant, then the hiring process and your own notice period can delay things further. The sooner you can have speculative conversations, the better.
  4. Keep your details up-to-date
    If you start talking to a recruitment consultant in the New Year, then you have a salary and bonus review in Spring, make sure that you update them on any changes to your remuneration expectations. Be upfront and honest about what you want – no one wants a surprise at the moment of offer. Be realistic too, about your expectations. Ask your recruitment consultant about benchmark salaries, and be aware that ‘golden handshakes’ or similar packages are far less common now than they used to be.
  5. Leverage LinkedIn
    There are still many candidates who do not have a complete, up-to-date LinkedIn profile, and this puts them at an immediate disadvantage. Whether you love social media or hate it, LinkedIn is a necessary evil, and if you’re actively looking for a new role, it’s worth investing some time to get your profile right. Follow the guidelines LinkedIn has created to ensure your profile is complete. It doesn’t have to tell the whole story – it can be a snapshot, but it must be attractive enough to appeal to recruiters and employers.

    If you are expecting Linkedin to be a useful source of new roles for you make sure you regularly check your messages.
  6. Take your time
    Missing out on a promotion or the bonus you want can make you resentful and emotional. However, it’s important not to jump quickly into the wrong opportunity. No matter how desperate you might feel, make sure you move for the right reasons, to the right place, and not just because an opportunity looks similar to your role but with £5k more on the paycheque. There’s nothing worse than having multiple moves in a short period on your CV, so take the time to avoid mistakes.

SRM Recruitment will always give an honest appraisal of our reach in the market and our track record of helping people like you. If we can help, we’ll tell you how, and if we can’t, we’ll try to point you in the right direction. Our approach means we work with fewer people, but we build long-term relationships with them, meaning our candidates often become our clients. If you’d like to chat with one of our consultants about how we can help you, get in touch.

Posted on

Hiring finance roles with SRM

John Wilson hiring finance roles

We join John Wilson, Finance Director at Morrison Utilities to learn how hiring finance roles through Luke Higgs saves his company time.

Tell us how long you have you worked with Luke and the roles he’s worked on?

I’ve known Luke for 10 years on and off and he’s recruited many different roles for me during that time. All the way from transactional finance people to management accountants and latterly a senior finance manager. I’ve lost count of the number of roles he’s placed for me.

Were any of the roles particularly challenging to fill?

He has filled some very niche roles, for instance, a Sub Contract Ledger Manager role that is quite specific to construction. In fact, the person he found for that role is still here five or six years later. 

What sets the candidates apart that he sends you? 

It’s always high calibre people that are sent through. Not just that, they are the right people for the job. He takes the time to figure out who is a good fit for our company and the culture.

Why do you partner with Luke? 

The key reason is that he’s taken the time to get to know me and the business. I’ve used other recruiters but all that’s happens is I get sent so many CVs. When I phone Luke he will come and see me and bring the best few CVs. It goes back to the fact that he knows what’s going on in the business. 

I appreciate his honesty and he will say if he doesn’t feel he has the right person. He’s also not afraid to just put one person forward either and I appreciate that. He understands how each role fits with the business. It saves me time, no one these days has time to interview six people.

Otherwise, we may as well as look for the candidates ourselves! 

“The one thing that stands out about Luke is the time he takes to understand you and the business. You can’t underestimate the time that saves. We know the CVs will be right, I’m not spending weeks interviewing and it puts us ahead of the game. ” 


John Wilson, FD, Morrison Utilities

Is there anything, in particular, you think that Luke does differently to other recruiters?

He listens. If we won’t have any new roles for 6 months he won’t constantly ring us, but if he gets a CV he will drop me a line and say this is a good person to bear in mind. Actually, he did that for the management accountant role and I dug out the CV further down the line. I know that if we get a CV it will be someone good and there will be a reason for it. 

Would you recommend his services to other Finance Directors?

Yes, for sure,  I know others FD’s who use him too so I have no qualms about recommending him to those hiring finance roles.

Posted on

Advice For Hiring Managers

advice for hiring managers
advice for hiring managers

Over the past three months, we have spoken to leaders in their field about the changes that will impact their teams in the coming years. With decades of experience between them in hiring exceptional talent for their organisations, we have compiled their advice for hiring managers. Whether you are planning to expand your team in the near future, or you’re in the middle of recruiting right now, these six tips will help you ensure your next hire makes a positive impact on your organisation.

  1. Align your recruitment with business strategy
    By understanding the values and vision of the company, you can align your hiring with the business strategy, making your next hire not only ready to meet your needs now, but also the needs of the organisation in the future.

    Henning Lauritsen, Acting Head of Tax at Wyeland Capital (GFG Alliance), shares: “at a fast-growing company I needed people who could deal with the practical issues that arose – I hired an M&A professional who lacked the big names on his CV, but who had built up his own systems, and that was exactly what the business needed.” Without connecting to the broader strategy, the risk is that you miss out on talent by only considering ‘the best CV’.

  2. Hire slow and fire fast
    For most organisations, hiring needs can be anticipated. Try to plan early and accommodate enough time to source the right candidates, then have a robust recruitment process, that includes a broad range of colleagues, to select the right person.

    Richard Francis, CFO at Netcentric explains “most of the regrets in my career have been around bad hiring decisions, and the common trait is recruiting too fast.” The time and cost spent at this stage will be far greater than the chaos if the wrong person is brought on board.

  3. Partner with your recruiter
    If you’re choosing to use a recruitment consultant, it’s essential that they fully understand what you need so they can deliver results at pace. Invest the time with your recruitment consultant and do it face to face, so they truly understand the needs of your business.

  4. Avoid a shopping list
    Put yourself in the position of your candidates. As Richard at Netcentric explains, “if they’re already doing the exact same tasks as the job description you’ve written, and they already have all the skills you’re looking for, why are they looking to move?”

    Think more strategically about the growth opportunities in the role you’re hiring for and have an open mind about which areas you’re willing to train someone in versus the skills you need them to have on day one. This should open the candidate pool up to a more diverse range of people and potentially source you someone who can bring a fresh perspective to the organisation.

  5. Do your research at the CV stage
    Interviewing is a hugely time-consuming process for all parties. John Wilson, Finance Director at Morrison Utilities, recommends filtering candidates by checking their understanding of the role, the business and its people before interviews start.

    “You can’t get everything you need from a CV to invite a person to interview. Work with an agency who have met with the candidate and understand them as a person, then trust that recruiter to recommend your shortlist. If the homework is done upfront, you’re ahead of the game”

  6. Get to know your preferred candidates
    Increasingly we see our clients adding informal interview stages to their recruitment process, where hiring managers and their colleagues can get to know their preferred candidate in a more relaxed environment. This can offer more insight into their personality, which as Richard Nordgreen, Head of Investments at Proseed explains, can be invaluable in a smaller firm: “that’s not just so we get to know the person we’re interviewing, it’s equally so they get to know the personalities around the table”.

If you would benefit from a strategic recruitment partner to assist with your next role, we’d love to have a chat about your needs. Please get in touch and we can discuss how to approach your recruitment process to source the right talent for your organisation.

Posted on

How to resign the right way

How to resign the right way Harry and Meghan
How to resign the right way Harry and Meghan

In April the world was shocked by news that Prince Harry and Meghan were standing down from their duties as senior members of the Royal Family. Regardless of your view on their choice to leave, what united many observers was the sudden announcement and apparent blindsiding of the Royal Family. Leaving any role is difficult, not least when you work for a family business. We share our expertise on how to resign the right way.

  1. Keep your plans to yourself

    The number one rule of resigning is that you save the ‘big reveal’ for your boss, rather than your colleagues (or the world media, for that matter). Even as you’re considering your departure, it’s best not to mention your plans to anyone else, to avoid gossip spreading, negativity in the office, and most importantly, a breach of trust with your boss. Allowing them to manage the announcement, as well as any subsequent staff changes, is an important part of you leaving on good terms (which we’ll come back to later).

  2. Chose the right time and book a meeting with your boss to share the news

    Once you’ve made the decision to resign, the news is likely to dominate your thoughts. Resist the urge to blurt it out at the first available opportunity and instead book a meeting, as soon as possible. Try to avoid Monday mornings, just before a key meeting, or right in the middle of a press scandal, when your boss will have many pressing issues to attend to and may not appreciate the timing.
  3. Write a resignation letter

    The best time to share your official resignation letter is during the meeting with your boss, and should never just be handed to them without explanation. If you’re working remotely, send via email, but only after you’ve spoken to your boss. The letter doesn’t need to be a long-winded announcement or an emotional outpouring. Instead, it should be clear and to-the-point, setting out:
    1. Your future plans
    2. Your intended date of departure
    3. Your willingness to assist with any handover
    4. Your gratitude for the opportunity and your best wishes for the company’s future

      This last point may feel disingenuous if you have a strained relationship with your boss, but it’s a step worth taking to ensure you leave on a good impression. Especially if your boss is your Gran!
  4. Prepare for your meeting

    Whether you’ve enjoyed your time at the organisation or you’re desperate to leave, announcing your resignation can be nerve-wracking and uncomfortable. By preparing in advance, you can remove some of the emotion from the meeting and ensure your news is shared in the most professional manner possible.

    By using the resignation letter you have written as a reference point for your meeting, you have a structure to follow. Practice what you wish to say in advance as this may help manage some of the nerves in your voice.

    It will pay to anticipate how your boss might respond. Almost certainly, they will ask why you wish to leave. This is not the time to vent – save it for the exit interview. At this stage, it’s critical to focus on the opportunity you’re moving to, rather than any discontent you’re moving from. Talk up the position you’re moving to – most managers will (eventually) be glad to support their employees in achieving their long-term goals. If your boss does react emotionally, try to keep a level head – they will cool down and move on soon enough.

    Prepare also for any counter-offers that your boss may make, such as a promotion or job move within the firm, or salary increase. Consider in advance what your response might be, and think hard about whether staying with the firm is the right choice. Don’t let it be ‘better the devil you know’ for the sake of a small salary increase – think about how your relationship might be with your boss once they know you were thinking about moving on. It’s worth noting that most people who are counter-offered generally leave within a year.

  5. Stay professional to the end

    Aside from the obvious advantage of securing a good reference, it’s important to leave your company on a good impression because it’s a small world, and you can never be sure when you might come across your boss again, or who they might talk to. Stay professional in your work, assist with any handover and ensure that you adhere to any codes of conduct, particularly around client confidentiality.

By learning how to resign the right way, you pave the path to greater success with your next career move. To discuss your career plans and how SRM Recruitment might be able to help, please get in touch.

Posted on

Video – Working with SRM Recruitment

working with SRM recruitment

Honesty, timely communication and attention to detail are just some of the attributes our clients appreciate from our service. In this short video, SRM Recruitment asks our client, Richard Nordgreen, Head of Investments at Proseed Capital, to share his thoughts on what it’s like working with us.

https://www.youtube.com/watch?v=35Htu7p-PPs
Richard Nordgreen, Head of Investments at Proseed Capital
Posted on

How To Build A Tax Team From Scratch

Building a tax team from scratch
Building a tax team from scratch

Henning Lauritsen is a leader in the tax profession and has created internal tax teams for a number of large international companies. Having worked with Henning to build the tax team at Wyelands Capital, SRM Recruitment asks for Henning’s advice on how to build a tax team from scratch.

What kind of people should you look for?

It’s critical to source people who understand how to work with the business if you want to successfully build a tax team from scratch. Of course, a tax professional needs to understand compliance, but they need something more than that. It goes beyond being up to date with operations, they have to really understand the business approach.

When we set up the tax team at Wyelands Capital, we partnered with SRM Recruitment because we wanted to build a thinking tax team, not an operational tax team. We partnered to create a strategy, which was approved by the CFO, and SRM helped me to fill a number of roles. In the past, the Group’s tax department was too operational – we wanted to be real advisers. Now, the team are in place and my boss has relocated so we’ll be even closer moving forward. It’s fundamental to work closely together so the senior management can understand tax.

I think it’s more important to find balance in your team than to try and hire the ‘perfect candidate’ on paper. When we were creating our tax team at Wyelands Capital, we had some very strong theoretical tax knowledge, but we needed someone who brought more practical experience. We sourced a candidate from South Africa who had really strong practical skills, and this complemented the strengths others had. You have to think of the team as a whole.

How do you run your team?

We have one central Group tax department, but we also have satellite tax departments in Bucharest, Ostrava, Sydney and Dallas. The local knowledge is invaluable, and it keeps the dynamic fun – they love visiting the London team, and vice versa. I have always tried to set up tax teams to reflect the countries we are operating in, as well as having a gender-balanced, multicultural team. When you have the opportunity to build a tax team from scratch, I think it’s important to mirror the real-world environment and have that diversity.

In terms of rewards, teamwork is key, so for example, a bonus wouldn’t be awarded unless people work well together. They don’t have to like each other – that doesn’t matter in our department – but everyone must cooperate. I have a strong belief in the power of the team.

We hold a weekly meeting to ask everyone what they’re working on. This is also a great opportunity to share our knowledge with the business, by inviting colleagues from other disciplines e.g. procurement to talk about what they are doing and how we can help.

How can you work most effectively with tax authorities like HMRC?

The first thing to understand is that tax authorities do want to work with you. By having an honest, respectful dialogue, you can work more effectively. For example, in Malaysia, we advised the authorities that we couldn’t work to their timetable, and also that our system is approximately correct (we called it our 80% rule.) That is not unusual by the way – no matter how much you go into the detail, something will always be wrong. So, we try to be practical and realistic and explain any limitations. It actually helps us be more accurate because we are not sweating the ‘small’ stuff but making sure we are putting time into what really matters. We explained we were following OECD guidelines, and they understood.

We have a good relationship with HMRC because we are open and transparent. They joined us at a risk review and we had a very good meeting. They don’t actually like court cases – they want to solve problems.

It’s really just a case of being good corporate citizens – and not just the tax department. We’re here to help and assist, and by doing so we protect our business.

When do you bring in external expertise?

We do need to use outside experts from time to time. We did an acquisition in seven countries and to aid our understanding we used the regional PWC advisors to do the local due diligence work. We know when to ask for help and use external advisors for difficult situations.

Partnering with SRM Recruitment to build our tax team from scratch was a good use of external expertise to find the best talent for our roles. SRM acted as true consultants to our business and helped shape our hiring strategy, as well as filling the positions.

If you are planning to build or expand your tax team, please contact us to discuss your needs. For more information about Henning’s career and for his thoughts on the Future of Tax, visit our Insights section.

Posted on

Video – Advice for Hiring Managers

advice for hiring managers video

In the first of a series of video interviews, SRM Recruitment asks one of our clients, Richard Nordgreen, Head of Investments at Proseed Capital, for his advice for hiring managers seeking to grow their teams, and about the management style he has adopted to achieve success.

https://www.youtube.com/watch?v=4jQlIw0pOqk&t=19s
Richard Nordgreen, Head of Investments at Proseed Capital