UK Partners Tax Manager

Job Details

Key Responsibilities

Managing the tax reserving process for UK resident partners, including:

• Accounting aspects;
• Allocation of partnership accounting profits and tax adjustments from the various Firm's partnerships;
• Monthly review of tax reserve postings;
• Posting journals onto accounting system to ensure tax reserve accounts show an up-to-date position;
• Review and allocate foreign taxes paid by branches and withheld from clients.
• Review of deferred tax calculations, allocations and movements between partners groups as and when necessary. This includes the review of deemed dividends from overseas corporate entities.

Tax aspects

• Calculation of annual tax reserve charge;
• Calculation and review of effective tax rates, including forecast for drawings purposes;
• Double tax relief claims together with the management and quarterly reconciliation of the foreign tax accounts;
• Tax equalisation calculations for all UK valve partners and assistance for foreign partners receiving UK sourced profit;
• Applying available tax reliefs and the calculation and release of pension/gift aid and investment relief;
• Review of former partner tax balances.

Management Of Partner Tax Payments / Refunds including

• Preparation/review of tax payment schedules provided by external advisers;
• Requesting payments from partners of personal related income;
• Analysing former partner balances;
• Advise on applications for reductions in payments on account where necessary;
• Forecast future tax payments for budgeting purposes.·

First Point of Contact for Partners, including

• Briefing lateral hires and newly promoted partners;
• Preparation of a tax reconciliation for departing partners including review of the deed of withdrawals;
• Preparation of annual tax reserve statement;
• Preparation of individual statements showing a reconciliation from profit allocation to taxable profit;
• Responding to partner / external tax adviser queries.

Project work will form part of the role as when and necessary. Current projects ongoing include the introduction of individual statements to partners and ongoing review of excess profits allocated from non-UK entities/branches.
Preparing and sending partnership tax return information to external tax advisers and liaising with internal finance teams, in particular, the partnership accounts team.

Qualifications Required

• Qualified ACA/ACCA
• CTA qualified or 2 years minimum experience in a tax related role
• Excellent Excel skills
• Experience using an accounting system
• Excellent communication skills
• Ability to work remotely

Ideal

• Experience of partnership structures

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