Best Schools for Master’s in Taxation in the UK
The UK offers top-notch Master’s degrees in areas such as taxation. Because taxation draws from such disciplines as social science, law, economics and computation, different departments at different universities may be responsible for running the Master’s in Taxation programme. As an example, the Oxford University degree is provided by a combination of lawyers, economists and academics. Law faculty as well as business faculty help teach classes in the programme. On the other hand, the Department of Accounting and Finance presents the Master’s in Taxation programme at the University of Limerick. In any case, students have the opportunity to tailor their learning to their preferences, and many thrive in UK society.
What is a Master’s in Taxation?
A Master’s in Taxation tends to take one year for full-time students and two years for part-time students. Such a degree is popular among lawyers who wish to gain a better understanding of the theoretical and practical underpinnings of taxation. Common courses include:
- UK taxation
- EU taxation
- US taxation
- International taxation
- Tax and public policy
- Value added tax
- Corporate social responsibility
- Capital taxes
- Portfolio management
Students can often take advantage of online learning environments that complement what they learn in class. In some cases, they can take most or all of their classes online. Classes tend to be lecture-based with some interactivity. Assessment is through exams, papers and projects, and many programmes include a dissertation.
What Are the Benefits of Getting a Master’s in Taxation in the UK?
The reasons to get a Master’s in Taxation in the UK could fill pages galore. For many people, the reasons come down to a main few:
- The ability to customise areas of study according to university and program type (for example, online, full time, evening, etc.).
- Varied choice of schools such as Oxford University, the University of Limerick and the University of Exeter.
- Focus on UK-specific topics as well as taxation issues in other countries.
- Enhanced career prospects and salary opportunities.
- Gaining technological skills in tax software.
Going to school in the UK can give you an additional edge in a job market that is often competitive.
What Kind of Career Can You Expect with a Master’s in Taxation?
Many careers abound when you have a Master’s in Taxation. In one way, career prospects depend on your previous degrees and work; for example, if you already work as a lawyer, you could narrow your focus to taxation. Possible job titles include:
- Financial Analyst
- Professional Accountant
- Chartered Tax Adviser
- Financial Planner
- Financial Software Publisher
- Tax Software Developer
Each career comes with its own requirements and challenges. A financial planner often works with individuals, couples and/or families to help best plan finances. These planners help their clients determine:
- How much money to save.
- How much money to invest.
- How to plan for retirement.
- How to best protect savings and investments.
- How to minimise tax loads.
- How to plan for inflation.
The job involves long-range thinking, as financial planners must look as many as 30, 40 or even 50 years into the future. At the same time, short-term planning is critical. Financial planners must be able to customise their advice to specific clients and eschew one-size-fits-all thinking.
A tax software developer must develop tax software that complies with current taxation laws. The developers can work for the government or for corporations. Development often must be user-friendly and easy for laypeople to use. The tax software can be designed for electronic filing, or in the case of financial software, may centre on or include aspects such as financial projections, tax projections or expected tax revenue.
A Chartered Tax Adviser (CTA) gives tax advice to individuals and to business clients. This designation is global and can be of particular interest to UK tax professionals who want to specialise in international taxation matters.
While it is possible to begin a career in taxation with a Bachelor’s degree, obtaining a Master’s opens up many career opportunities. It also enables professionals in fields such as law and finance to build expertise that is even more specialised. Professionals with a Master’s degree often enjoy higher salaries and more challenging work as well.
If beginning or furthering a career in taxation or finance interests you, start exploring the many Master’s in Taxation programmes in the UK.