The impact of the budget on tax recruitment is apparent. March 2024 was the record month for tax vacancies going back to January 2019, beating even the peak post pandemic months in 2021. At the same time, in a recent report featured in Bloomberg, the UK is set to see 9,500 millionaires repatriate away, which is more than any other country globally, with the exception of China.
Over three thousand job vacancies in fintech were advertised during the first quarter of 2024. Roles in risk and compliance have experienced the most significant increase in recruitment, rising by over 85% in London.
Personal tax vacancies have experienced the most significant growth, with a fivefold increase in the monthly average compared to 2023. London remains the largest area for vacancies overall.
With the general election looming, increasingly the question is becoming one of judgement. Who do we trust to represent the country and with that, the economy? The UK economy is consumption led, meaning that what happens in retail and consumer goods and services, is significant, when looking at economic activity. With that, in what is turning out to be a spectacular own goal, the Government’s ill fated ‘tourist tax’ on retail (not allowing VAT rebates on shopping) is starting to be felt amongst retailers.
VC funding into the technology industry is on the rise again, bringing relief to policymakers. In the UK, FinTech is a major beneficiary of this increased investment, which is directly translating into heightened recruitment activity. FinTech stands out as the best-performing segment within Financial Services this year. If the current pace of recruitment continues, the number of FinTech vacancies in 2024 will be 36.7% higher nationwide compared to last year.
