The Operational Taxes Team is part of Group Tax and is responsible for the oversight of the Operational Tax risks of the group as a whole. This role involves working as part of a team and would provide informative, high quality, sophisticated output, advice and mentorship tailored to senior partner needs, operating as an Operational Tax specialist. The main focus of the role will be on Investment Taxes for the Insurance & Wealth business.
Your role will be to provide oversight of tax processes completed by appointed Custodians including receipt of overseas investment income net of treaty withholding tax rates, tax reporting and tax compliance processes for Insurance & Wealth's UK OEICs and investment funds. These processes are undertaken by third party outsourcers and the oversight work ensures that they are carried out to the required high standards and timescales as detailed in service level agreements, so that the funds' tax position is fully understood and controlled in an efficient manner.
In addition, you will also lead withholding tax processes for territories and rates not covered by the outsourcing arrangements. This means you'll work closely with project teams, advisory teams and external advisors on developments affecting the investment portfolio, to grow our service and add value for our customers by improving their return on investment.
Key Capabilities/ Knowledge/ Experience include but are not limited to:
* Specialist Investments Tax knowledge including overseas tax and withholding tax rules for Open Ended Investment Companies (OEICs) and other collective investments.
* Proven track record of working in the tax function of a large corporate group or professional accounting organisation, preferably in the Financial Services sector.
* Experience of providing oversight of outsourced withholding tax and OEIC tax compliance processes including the appointment of overseas tax agents.
* Experience of attaining global double taxation treaty rates, EU country domestic rates on investment income via relief at source, reclaims and completion of associated tax documentation.
* Understanding of withholding tax accounting policies.
* A tax qualification is preferable.
* A natural when it comes to relationship management skills, with a proven ability to analyse, challenge and influence.
* As an Advisory role, experience in managing different partner relationships at all levels.
You will be joining an experienced Operational Taxes team that advise the Group on all Operational Taxes matters including Stamp Taxes, Pensions tax reporting and all customer tax reporting including Bank Building Society Interest (BBSI), Other Interest (OI), ISAs, Foreign Account Tax Compliance Act (FATCA), Common Reporting Standard (CRS) etc. Experience in some of these areas would be beneficial although it's the Investment Tax experience that is key.