Pavel Delvig has been saved
Life at Deloitte
Senior Manager, Tax Depreciation – Real Estate, London
I studied Economics at Cambridge University (Downing College) and joined Deloitte straight after university. I was interested in obtaining the ACA qualification at first, but found the job interesting and rewarding. Before I knew it, I’d been working here for over 10 years!
What work do you get involved in on a day to day basis?
As a Senior Manager within the Tax Depreciation team, much of my time is spent advising clients on the tax implications of real estate transactions, mainly buying and selling commercial property in London. The property market is particularly hot at the moment, and there are lots of deals going on keeping everyone very busy. Quite often, there is a fair amount of work to do after the deal has been signed as well, to help the client to get the best tax outcome for their investment.
What do you like most about the office and region that you work in?
I am part of a specialist and close-knit team, and we are always working together on the projects we get involved in. I really enjoy the team dynamic, both in and out of the office. As for the London office, I would never work anywhere else. People might moan about London prices or the traffic, but for me there is nothing like being in a large multi-cultural city, with anything you want right there at your fingertips.
Why your industry?
I didn’t always specialise in Real Estate – during the downturn, I was part of the Consumer Business team, but now that the market has picked up (with a vengeance!), I enjoy being in the dynamic, fast paced environment of a transaction based industry. The work is interesting and varied.
What is your top tip for working in your industry?
Tax is pretty complex, but you’re not expected to know it all yourself. In a firm like Deloitte, we’re very lucky to have lots of specialist teams (like Tax Depreciation), who have deep knowledge of their area of expertise and help us to provide the highest-quality advice to clients.
What differentiates your industry from other industries?
Real Estate is quite a transaction driven industry. Most of the work we do relates to clients buying and selling property, taking on and exiting leases, restructuring their finances and holding structures. Every deal is different and it involves dealing with lots of stakeholders: our client, shareholders, investors, Deloitte offices in other countries, the “other side”, lawyers, property managers and other advisors.
Which personality traits or skills aid success in your industry?
Eagerness to learn, ability to pick things up quickly, good organisational skills, time management, teamwork and excellent communication skills (both verbal and written).
What do you enjoy most about your industry?
What’s nice about Real Estate is that it’s all about property, in other words, large buildings you can see – and touch! It’s very easy to relate to, and hugely exciting when you work on a 9 or even 10 figure deal on a high-profile London asset.
Talk us through the most exciting project that you have worked on
One of the most exciting projects related to the construction of one of the largest and most famous football stadia in the UK. The construction took place over a number of years, and we provided a lot of advice to the client along the way – from financial modelling and dealing with planning and design, to optimising the tax treatment of the client’s expenditure. One of the perks was going on regular site visits to the iconic venue to check up on how the construction was progressing!
What social, society and corporate responsibility activities have you been involved with at Deloitte?
There are lots of socials both in the Real Estate group and the Tax Depreciation team – from third Thursday drinks to sports competitions, charity events and Christmas / summer parties!
How has Deloitte played a role in your long term career goals?
There is constant career progression at Deloitte – I feel like I am starting a new job every year, each time with new and interesting challenges and more responsibility and rewards. I have obtained the ACA qualification, which will also come in useful if I ever wanted to have a career outside of tax. At the moment, I’m just looking forward to what will come next.
What advice would you share to others considering a career in your industry?
Go for it!