It is essential for business to take into account changes to VAT in the wake of announcements made in the Budget, says financial services recruitment firm Morgan McKinley.

Alex Lawrie, associate director of Morgan McKinley’s tax division, says VAT planning is “more important than ever” and adds: “As we’ve seen a rise in job opportunities for VAT specialists in the first half of 2010, it’s unlikely that we will see another rise in the number of roles, although it may mean an increase in workload for many VAT practitioners.

“As corporation tax rates reduce and most personal taxes and employment taxes rise, there is a feeling currently in the tax consulting world that professionals specialising in personal tax; compensation and benefits; and employment tax will find their skill sets in greater demand as both businesses and individuals will attempt more stringent tax planning.”