KPMG plans to cut jobs in its UK tax department in response to the recession
and a slump in demand for merger and acquisition-related tax advice.
An industry source said that about 200 jobs could be cut. A spokesman for
KPMG, the world’s third-biggest accounting firm, confirmed that it planned to
cut jobs in its UK tax practice, but declined to give a figure for likely job
cuts. He said that it was consulting staff.
News of the job cuts comes despite KPMG offering staff the option of a
four-day working week, in an effort to cut costs and avoid future redundancies.
KPMG emailed UK staff yesterday to tell them that it needed to cut jobs in
its tax and people services department in response to a changing market for tax
The accountancy profession has been hit by a wave of redundancies over the
past year. Firms including Deloitte, Grant Thornton and PKF have announced plans
to cut hundreds of jobs in expectation of slower revenue growth this year.
Thousands of redundancies in financial services have cut the amount of
advisory work on offer, while merger and acquisition activity has also slowed
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states