Purpose
This is a newly created role to manage the tax affairs of 7IM with the opportunity of to develop and enhance existing skills, while being accountable to ensure tax compliance and tax consideration for future strategic growth. The role will sit within the External Reporting team, who are responsible for financial reporting (including statutory), tax reporting and regulatory reporting for the 7IM group.
Responsibilities
The candidate will have the responsibility for the preparation of tax reporting for the 7IM group taking care necessary controls are in place to ensure accuracy. In addition, the candidate will be responsible for tax horizon scanning making sure all updates to tax legislation are understood and considered on behalf of 7IM and advising the business on such.
As well as preparing the relevant submissions, the role requires keeping up to date with technical tax requirements and forthcoming changes and implementing changes to processes and procedures as required.
Corporation Tax
- Review of the month end accruals for corporation tax and deferred tax and monthly balance sheet reconciliations of recorded tax positions
- Liaison with external third party on preparation of the returns (corporate and partnership) and supply of required information
- Calculation of the quarterly Payment on Account where relevant
- Ensuring that tax computations and returns are filed with HMRC, in correct format, accurate and on a timely basis.
VAT
- Preparation of the quarterly VAT returns for the UK entities in line with the PESM
- Presentation of the VAT returns to the Financial Controller for review prior to submission
- Liaison with the wider finance team to ensure processes are correct for appropriate recognition of VAT (eg., reverse charge, bookings to the ledger etc).
- Ensure that VAT returns are submitted in a timely manner together with the payment
- Respond to all VAT related queries on a timely basis (using external guidance where required)
Senior Accounting Officer
- Ensure that adequate controls are in place across the business in relation to taxes as required by the Senior Accounting Officer regime
- Maintain documentation in order to support the Bottom-Up Risk Map
- Preparation of the Senior Accounting Officer pack and presentation to the Senior Finance for review and approval
General
- Provide ongoing support to the business including delivering advice and guidance, particularly on new initiatives, revenue streams etc., and the tax implications
- Act as a point of contact for the business with HMRC across all aspects of tax
- Co-ordination of the Monthly Tax Governance meetings
- Involvement in ad-hoc projects to provide input on tax
- Provide ongoing support and advice to the wider finance team on accounting for tax, including VAT
- Provide support to the wider finance team, including the preparation of detailed tax calculations, completion of tax forms and journals
- Administration of the transfer pricing policy, ensuring it is kept up to date
- Liaison point with key external tax advisors
- Assist in the year end financial statement preparation