Accountants shun tax havens

Less than a quarter of accountants polled in a survey say they would chose to relocate to the Channel Islands, an indication that the benefits the tax havens offer do not hold sufficient allure for accountants today.

Dubai, New York and Sydney however came out as the most popular destinations to relocate to with over half those surveyed saying that the lifestyle benefits the cities offer was the main motivation for their choice, according to a survey for GAAPweb, a specialist accounting and finance jobsite.

Only 16% mentioned career progression as a main attraction for relocating.

The Channel Islands came in at the bottom of the list with 24.3% stating they would consider moving to Jersey, 20% Guernsey and only 15.7% said they would consider a move to the Isle of Man.

Melissa Buxton, head of marketing, GAAPweb said: 'While it’s hardly surprising that places like Dubai, New York and Sydney ranked high in terms of the most sought after cities for relocation, what is surprising is how low career progression sits in the motivation for seeking work outside the UK. Candidates are also missing out by not considering more seriously the thriving economies right on their doorstep such as the Channel Islands.

'Jersey, for example provides a huge opportunity with 60% of its economy based around the financial sector. Over 50 accountancy firms are based in Jersey as well as over 300 law, trust, banking and fund businesses which all require finance and accountancy staff.”