Consultant Joseph Smith
Date posted 07 June 20192019-06-07 2019-08-06 banking London London GB GBP 60000 80000 80000 YEAR Robert Walters https://www.robertwalters.co.uk https://www.robertwalters.co.uk/content/dam/robert-walters/global/images/logos/web-logos/square-logo.png
Our client is an international securities and investment bank. With a primary focus on client-based activities, its wide range of services includes sales and trading in both debt and equity securities, the underwriting of new issues and M&A advisory services. The Finance Department provides support to the business and fulfils internal and external financial reporting functions. It is responsible for providing monthly and quarterly reports on business performance to management and all areas of the organisation, including head office, overseas. It leads the annual business planning process, coordinates the external audit, produces the published accounts, is responsible for tax policy and manages the Company’s SOX Compliance Programme. The Finance Department’s Regulatory Reporting Team is responsible for monitoring and reporting regulatory capital and liquidity. The Product Control area is responsible for the main internal reporting and control functions relating to the trading elements of the Company. In this capacity it works closely with the business and Risk Management departments both in London and internationally.
The incumbent for this role will take overall responsibility for the preparation of the Bank’s VAT returns prior to review by the Head of Tax; the review of other indirect tax returns produced by operations, including Stamp Duty Reserve Tax and EU financial transaction taxes.
To take accountability for advice and to assist front office and support staff in a wide range of matters.
- Technical analysis and review of accounting entries
- Providing technical advice to support areas on the VAT treatment of financial transactions
- To review the company’s compliance with indirect taxes including UK and Irish stamp duty reserve tax
- To update the procedures on indirect taxes, as required
- To provide the Head of Tax with quarterly updates on changes to VAT legislation, including case law, and to advice on the impact of these changes on the bank’s business areas
- To review the company’s Service Level Agreements and advice the business on the VAT implications and ISD VAT accounting requirements in downstream systems
- To manage the Bank’s Senior Accounting Officer regime obligations in relation to VAT and stamp duty
- Identification development and recommendations for improving the bank’s VAT recovery and recommend controls around indirect Taxes
- Advising and accounting for capital goods under the Capital Goods Scheme for refurbishment projects for the bank’s new building and other capital acquisitions
- Manage the VAT group members’ registration and de-registration on a timely basis
- Identify updates required to the group’s Partial Exemption Method
- Providing technical VAT advice to ISD to retire legacy VAT systems and introduce new systems
- Assist the Head of Tax during reviews conducted by HMRC and internal audit