Artificial Intelligence for Tax Practitioners

This course explores how to effectively plan for and leverage the opportunities presented by AI, while also examining its potential risks and limitations.

Participants will learn:

• The differences between machine learning and generative AI
• How to create guardrails which assist in the accuracy of the results
• How to create a prompt library to assist with AI research
• How to integrate AI into everyday work
• Creating a procedure manual for the use of AI
• The importance of databases
• What AI can and cannot do?
• Overhauling processes and procedures – the opportunities
• The use and abuse of artificial intelligence in tax cases
• Ethical and safeguarding issues

When applied correctly, AI has the potential to transform the work of a tax practitioner; when misused, it can create serious problems. This AI in taxation training will walk you through best practices in this rapidly developing field.

AI Use Cases in Tax - A Case Study: Examine a case study that illustrates the challenges of AI and how it should be used appropriately in a professional setting.

This course offers significant and varied opportunities for participant engagement, allowing delegates to actively contribute, collaborate, and interact throughout the learning experience.

Redcliffe's AI in tax specialist is a Director of a consultancy company specialising in taxation, share scheme advice, reward and lecturing. He has developed a specialised share scheme service for small companies and advises FTSE companies on communication. The lecturer covers most aspects of Direct Taxation, but his particular interests include employment taxation and transfer pricing, which pose unusual conceptual challenges.

Previously, he worked for Henderson for nearly 9 years, leading the Share Schemes team for part of this time.

The trainer obtained the level 7 CIPD Master's qualification while at Henderson. Before Henderson, he was with Australia Mutual Provident (AMP) and helped establish one of the first Share Incentive Plans (SIP) for large companies in 2001. It was so unusual at the time that the Revenue phoned Jeremy up to find out how they could encourage more large companies to adopt SIP.

He began his career in taxation and, for the following 16 years, worked in three of the “Big Four” accountancy firms. He ended up as a Senior Manager with Deloitte & Touche, having worked on issues such as profit-related pay, share schemes, expatriate tax, tax investigations, reward management, US taxation, transfer pricing and corporate tax.

This course explores the deployment of Artificial Intelligence in the tax world and the likely impact on tax advisers. Participants should understand the potential use of AI in taxation and its pitfalls.

Both advisers and revenue authorities are increasingly using AI. Tax authorities around the world have started to use AI tools to assist with gathering, collating and using information. This is likely to be seen in an increased pace of investigations. They are also using AI to answer queries, which can result in significant challenges in terms of dealing with correspondence.

The course is divided into two:

• The first part looks at how AI has developed and why it is now having such an impact on business when its antecedents have been around since computers were invented at Bletchley Park during the Second World War.
• The second part of the course looks at the challenges, in particular for tax departments.

The challenges include keeping abreast of developments and making sure that one remains competitive. The second challenge is internal, ensuring that there are the necessary controls. Surveys are showing that staff are increasingly using unauthorised AI at work, and this could create very costly challenges for the profession.

The course, therefore, looks at both the appropriate use and control of AI.

• Many presentations are posted with the intention of selling you something. We are not trying to sell you anything and can give a clear, unbiased and objective view.
• The course involves analysing examples of AI-generated material and then invites participants to review whether this material is suitable for use in a professional environment.
• It examines how AI can be used as an aid to research, but also looks at its limitations in constructing an opinion for tax that can be used for clients.

This AI for tax practitioners course is designed for a wide range of professionals whose work will be influenced by AI in tax accounting, including:

• Tax advisers and consultants
• Accountants and finance professionals
• In-house tax managers and directors
• Lawyers and legal advisers (tax-focused)
• Compliance and risk officers
• Technology leads in tax/finance functions
• Junior tax professionals and trainees

Artificial Intelligence for Tax Practitioners offers a clear, unbiased guide to AI for tax practitioners. We cover the essential topics such as the distinction between machine learning and generative AI, database importance, AI’s capabilities and limitations, process improvements, and ethical considerations.

Designed for professionals seeking insights into AI’s impact on their careers, the course stands out by prioritising objective information over sales.