Professional Services Consultant, Fraser Burnett, recently caught up with Craig Barrowman, Partner at KPMG, in the second instalment of our ‘Why Tax?’ interview series.
1. Why did you pick a career in tax?
Accounts was my favourite subject at high school, so I knew from an early age that I wanted a career in finance. I went on to study Accountancy and Finance at Heriot Watt University which is where I first came across tax. It was actually my now wife who suggested I take the tax module in my third year. I knew very quickly that I had found my future career; there was something about the blend of business, problem solving, numbers and law that I found engaging. I had a tax internship between third and fourth year at university and haven’t looked back since.
2. What have been some of your career highlights?
I have had many career highlights, but two stand out. First, I was fortunate to spend two years on assignment to KPMG’s UK Tax Desk in New York between 2018 and 2020. Covid-19 cut my time in the US short, but until then I had a fantastic experience traveling around the States and speaking to the Heads of Tax of some of the world’s largest businesses. During this time, my personal development really accelerated through working on complex international tax projects and having a real focus on business development. It was also a great opportunity for my family – my wife and two toddlers came too – and it opened our eyes to the global opportunities that are out there.
Second, I became a Partner with KPMG this year. This is something I’ve been working towards since I started my career, and it’s a very proud moment for me. I now lead the Corporate Tax Compliance and Advisory business for KPMG in Scotland, overseeing a team of over 50 professionals. In this role, I’m committed to fostering a collaborative and innovative environment where our team can deliver exceptional service to our clients. I’m excited about the career highlights that are still to come, and look forward to continuing to make a positive impact on our clients and the wider tax community.
3. Why should some people consider a career in tax?
There are many reasons I could list, but I’ll try to keep this brief. You work with a range of interesting businesses, with a key role to play in helping them deliver their business objectives. No two days are the same; one day it could be M&A, and the next could be helping a client expand overseas, bid for a new contract or refinance.
If that’s not enough, tax rules and regulations are continuously evolving, and the pace of change is showing no signs of slowing down. In recent years we’ve had the OECD’s new global minimum tax rules (Pillar 2) and new tax technology such as AI which is transforming how we work, to name but two developments. This creates a rewarding career that’s constantly evolving and throwing up new challenges.
So, if you’re looking for variety, challenge, and the opportunity to make a real impact on businesses and society, then look no further than tax.
4. The changing landscape of tax brings its challenges. However, what do you think are the key opportunities within tax?
Tax professionals thrive in a changing environment. In the UK alone we get new tax rules at least once a year, and we play an important role in helping our clients understand the impact for their business. We can expect this to continue with a spotlight on tax fairness and transparency, and the need for governments around the world to increase their revenue to fund public services.
I’m really excited about how AI and other technology is starting to change our profession. For example, technology means tax compliance is very quickly moving away from lots of data processing. This is freeing up the tax team to focus on adding value, like maximising reliefs and incentives and making judgements on the most complex areas. And it’s not just tax compliance that’s changing. We’re starting to use AI to support research and drafting for tax advisory projects which is exciting.
I think the next five years are going to be transformational for the role of a tax advisor. While technology will undoubtedly play a bigger role, soft skills such as communication, collaboration, and critical thinking will remain essential. Tax advisors will need to be able to leverage new technologies, interpret complex data, communicate effectively with clients, and make sound judgements in a rapidly changing environment. I’m confident that by embracing this, we’ll continue to add significant value to businesses and our communities.
5. What one piece of advice would you give someone who is starting a career in tax?
Be curious. There’s so much to learn about the tax technical rules, but I’ve found my role so much more rewarding when I’ve been curious and taken the time to understand more about my clients, their businesses and their personal motivations.
At the end of the day, tax is still a people business and having a genuine interest in your work and how it helps your clients meet their objectives should stand anyone in good stead. By combining technical expertise with a focus on people, you can build strong relationships, provide excellent service, and make a real difference.
If you have any questions about this ‘Why Tax?’ interview series, or you would like to get involved and share your thoughts on the Tax function, please contact [email protected].
