Tim Kiely - Ernst & Young
I studied Law and Accounting in UL and had an interest in tax subjects I studied as part of my degree. Tax is essentially a combination of legal and business principles. I also did a work placement in the tax department of Ernst & Young that furthered my interest in a career in tax.
I enjoy the variety of tasks which I have to perform. The nature of the work that I do is quite varied, as are my clients. I deal predominantly with insurance companies but also with sub-prime mortgage lenders, pharmaceutical companies and betting companies. Many of my clients are quite high profile listed multinationals, so it is quite exciting seeing something in the press on which I have been working. I am constantly learning new things, be it changes in domestic legislation, or developments in the wider international tax arena. It is fascinating to learn about the differing tax regimes across the globe, and how they interact with each other.
I work in the corporate tax department, where my main responsibility is to manage the tax compliance process for my corporate clients. I am also be involved in advising my clients in any transactions which they would undertake during the year, i.e. making acquisitions, carrying out a securitisation transaction, liquidating subsidiaries, entry into foreign markets etc.
I have been involved with a lot of tax planning for a large pharmaceutical company and it has been really interesting to see that planning develop and progress into the structure which we advised on. I have also been involved in the set-up of new companies in Ireland, establishing a presence here for some large multinationals. To see the product of your work materialise is really exciting.
Working and studying is not easy to manage, and that was by far the hardest aspect of my job until I qualified last year. Tax is invariably a major factor in decisions that companies make, and often, tax reasons will outweigh other commercial reasons in determining the decisions that companies make. The role of the Registered Tax Consultant is critical to the running of a business, and sound tax advice can form the cornerstone of major decisions made by companies.