Tax Help

Discussion in 'General Discussion' started by D.Cole, Jul 7, 2019.

  1. D.Cole

    D.Cole Active Member
    Future Trainee

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    Hi All,

    I’m starting a vacation scheme soon and they’ve sat me in Tax - which has made me nervous since tax is meant to be notoriously hard and mathematical. I was wondering if anyone had done a vacation scheme in Tax (or sat there as part of your training contract) and could give me a rough idea of typical tasks you do, so I can prepare? For instance, what kind of maths will I need to know (e.g. percentages)? Can you recommend any resources to help me get to grips with it? (I wanted to buy a Tax law textbook but they’re £100+!)

    Any help would be much appreciated!
     
  2. Jaysen

    Jaysen Legendary Member
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    I have limited experience with tax, so take this with a pinch of salt -- but it's likely the tasks you do on a vacation scheme will be very simple and won't require you to perform any complex calculations. You wouldn't be expected to have any prior understand of tax and I imagine they'll mostly involve you with research tasks and/or drafting.

    The way you can impress is less about your existing knowledge and more about:
    • Do you show a willingness to learn?
    • Are you enthusiastic about approaching the work, even if it is outside your comfort zone?
    • Do you take feedback on board?
     
  3. D.Cole

    D.Cole Active Member
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    Thanks Jaysen!
     
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  4. Alice G

    Alice G Legendary Member
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    I am so sorry that I didn’t see this until now! I sat in tax at Shearman and really enjoyed it!

    I’m assuming your scheme is either finished or you might be on it still perhaps? How have you found tax?? Interested to hear your thoughts :) (if you’d be up for doing a vac diary this could be really great insight for people who might be a bit wary of tax as I certainly was too!!)
     
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  5. D.Cole

    D.Cole Active Member
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    Hi, yes my scheme is finished now! I actually really enjoyed tax, it wasn’t mathematical at all nor were the tasks they gave me impossibly difficult :) I’d be interested in doing a vac diary. Can you PM me the details?
     
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  6. Alice G

    Alice G Legendary Member
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    Absolutely!! I will be coordinating the vac diaries next week so will send you a message soon! :) really glad to hear you enjoyed it as well! It’s a departmental seat I would consider doing as a trainee
     
  7. Daniel Boden

    Daniel Boden Legendary Member
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    Hey Alice,

    Just to add to this, I'll be doing a vac scheme diary too once I have heard back regarding my TC!

    Thanks,
    Dan :)
     
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