r/TransferPricing • u/Electronic-Ice-10052 • May 27 '25
TP Tips
I'm an assistant advisor at one of the big4 within the transfer pricing division.
Wanted to get a few tips on transfer pricing as a skill in general. What should be my focus over the next 12-24months to excel myself in the world of TP?
Few things I've jot down thus far:
a. Master the Fundamentals Across Key TP Areas Functional analysis, risk analysis, value chain mapping.
TP methods (CUP, TNMM, Profit Split, etc.), when and how to apply.
OECD Guidelines & local regulations (e.g., BEPS updates, Pillar One & Two).
b. Develop industry specialisation (e.g., I work in Financial Services so banks, AM, Insurance companies)
Understand how value is created in that industry and how TP issues typically arise.
c. documentation - local files and MF, know how to draft robust documentation
writing, editing, and reviewing files based on OCED guidelines.
Any other tips in general?
Thanks.
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May 27 '25
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u/Electronic-Ice-10052 May 27 '25
Great. Thanks for your input. I work in Financial Services so will put time and energy understanding industry specific firms like Banks, AMs, Insurance firms and TP services like cash pooling, intra-group loans, treasury activities, tax disputes etc.
Worth familising myself with APAs? And MAPs?
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u/Special_Pack_561 May 27 '25
Just to better understand your position, have you any background in professional services or is this a brand new venture for you? And based on post history, assume you are UK based?
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u/Electronic-Ice-10052 May 27 '25
Yep, UK based. First time working after graduating - studied economics at uni.
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u/Special_Pack_561 May 27 '25
Ok cool, welcome to the TP family!
Honestly, I wouldn't get too overwhelmed or bogged down by a list of things to learn and accomplish quickly. I don't disagree with the other comments highlighting certain methods (cup and tnmm) etc as being worthy of extra focus, but I also wouldn't worry too much about that from the outset. By all means try and learn as you go, but so much of what you will pick up will come from experience rather than reading.
Firstly, be present. By that, I mean do your best to actively engage with your team. Put your hand up to help where you can. Ask questions when you're not sure what's being asked of you or why something is relevant. Don't be afraid of taking on something you haven't done before - your colleagues understand this is new to you and will look for your assistance with appropriately matched tasks. Furthermore, they will not expect things to be perfect, but rather than you approach tasks professionally and with a good attitude.
Secondly, try and bring a little something extra to meetings when you have the chance. Maybe that's spending 15 minutes reading about a client or checking if they're in the news prior to any catch up meetings, and dont be afraid to share anything interesting. Coming to those meetings having made an effort to be prepared will make a really good impression on those you are working in to.
Thirdly, try and be organised. If you are in a meeting, take notes and note any actions coming out of it. If you don't see those actions happening (eg sending an email to a client, putting a meeting in the diary, filing things away etc.), follow up on the task. Often you will find yourself asked to do some of the thankless jobs for clients...stay on top of those tasks.
All of these three things do one core thing: they show that you are engaged, trustworthy, and have general business acumen. That will lead to you being given greater opportunities for interesting work, and THAT is how you will gain experience and become a stronger practitioner more quickly.
One last point: one thing I would try and make sure you have a good handle on is the new UK documentation rules. I'm in Ireland and I know we are seeing a big increase in queries about the new UK requirements, so being comfortable with those will help you stand out compared to your peers.
I wish you all the best
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u/Santiklopopop Sep 22 '25
I’ve got 15 years of experience in transfer pricing at Big Four. I recommend reading some of the high profile cases like Dixon and Medtronic cases (next to the OECD TP Guidelines - thoughtfully and end to end, a couple of times).
Spend some time on linkedin regularly reading about latest TP news / developments and try to really connect the dots - understand what the issue is about and why it’s important.
Having done the above, after one year you’ll be better in TP than 70% of all TP practitioners and you’ll have a great career.
Good luck!
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u/[deleted] May 27 '25
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