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Direct Tax Manager (Maternity Cover) Part time
at Virgin Management Ltd in Brook Green, London
The primary purpose of the Tax Department is to:
• define and manage the global strategic tax structuring of all new and existing companies;
• manage the tax risk of the Group; and
• assist the Group in meeting its ongoing tax compliance obligations.
Role Title
Direct Tax Manager
Reports to
Group Senior Tax Compliance Manager.
Stakeholders & Direct Reports
• HMRC
• KPMG, the Group’s auditors
• VML Departments (Mainly Finance and Company Secretarial)
• Operating Company Finance Departments
Direct Reports
• 1 Direct Tax Accountant or 1 Direct Tax Assistant (depending on portfolio of companies responsible for).
Role Summary
This position is to provide a point of support for the corporate tax team on a day-to-day basis and reports to the Group Senior Compliance Manager.
This role involves overseeing and managing either 1 Direct Tax Accountant or 1 Direct Tax Assistant, depending on the portfolio of Virgin group companies assigned to the individual.
There are no budget management responsibilities.
Role Objective
The main purpose of the role is to provide support to the Group Senior Tax Compliance Manager to ensure the Group meets its UK corporate tax compliance obligations.
The role holder will be required to act as a point of reference and support for the Direct Tax Accountants/Assistants to resolve outstanding tax accounting and tax technical issues.
The role encompasses responsibility for all aspects of tax compliance, including but not limited to tax disclosure in UK statutory accounts, group reporting, computations and correspondence with HMRC, Group compliance issues, and various due diligence and project requirements as they arise.
Functional Responsibilities
Tax disclosure in UK statutory accounts
• Establish timetable with Virgin Accountants for the provision of information for preparation of draft computations, sign off of statutory accounts etc. Establish the timetable 2 months before year-end and monitor regularly
• Monitor information flows from Virgin Accountants to VML Tax Accountants and Assistants in the preparation of computations
• Train new Tax Accountants and Assistants in the use of VML tax accounting pack. Ensure completed pack is provided to auditors as part of the tax audit process
• Ensure that Tax Accountants and Assistants liaise with auditors so that they/we are kept aware of the reporting timetable if it is revised
• Review disclosure in statutory accounts prior to signature to ensure that accounts presentation does not prejudice tax treatment
• Take control of the tax information and disclosure in the Virgin Group and allocated sub group consolidated accounts.
Computations/Correspondence
• Arrange a pre-year end planning meeting to discuss significant issues, planning ideas and agree timetable 6 weeks before year end
• Review tax computations prepared by Tax Accountants/Assistants prior to submission to HM Revenue & Customs. Liaise with Group Senior Tax Compliance Manager to resolve any difficult issues
• Ensure that Virgin Accountants are notified of any additional information required to prepare response within 2 weeks of receiving HM Revenue & Customs letter
• Ensure that Tax Accountants and Assistants prepare and submit response to HM Revenue & Customs within 2 months of receiving letter from HMIT. Where appropriate, obtain approval from Virgin accountants prior to submission of response to HM Revenue & Customs
• Review letters prepared for submission to HM Revenue & Customs by Tax Accountants/Assistants. Liaise with Group Senior Tax Compliance Manager on difficult issues.
General tax compliance issues
• Ensure that Tax Accountants/Assistants update historic group relief matrices for submission to HM Revenue & Customs
• Assist in the preparation of P11D returns and PSA settlement return.
• Monitor tax payment deadlines and advise Virgin Accountants of payments as appropriate
• Monitor 2/6 year claims and elections and prepare appropriate elections.
• Assist with the provision of tax information to enable companies to be dissolved in a timely manner
• Where PAYE queries are raised by HMRC with VML Tax directly, ensure that those PAYE issues are directed to Opco’s as appropriate; monitor queries to ensure that they are resolved satisfactorily.
Advisory
• Lead projects generated on allocated group companies
• Be the focal point for providing tax advice on all general queries from allocated group companies
• Assist Tax Directors/Group Senior Tax Compliance Manager on ad hoc group advisory projects as and when required.
Group simplification
• Ensure that all tax information is provided to enable completion of group simplification process.
Management Responsibilities Stakeholder Management
• Ensure that relationships with key stakeholders are managed and maintained.
• Actively promote and develop cross functional ways of working
• Liaise with the Group Senior Tax Compliance Manager to ensure that engagement letters are agreed and in place between VML Tax and the allocated group companies.
Policies and Processes
• Work with direct reports and peers in other parts of the organisation to define measurable processes, procedures and checklists to be employed within the team
• Perform governance to ensure that all applicable processes and procedures are adhered to
• Ensure consistent quality of deliverables out of the team
• Ensure that the (internal/external) customer experience is considered in all work carried out by the team
• Comply with the Company Handbook, people policies and other published procedural guidance, such as equal opportunity, time away from work, resolving problems etc
• Be responsible for complying with the appropriate information security standards and guidelines and to take all reasonable precautions to protect the information accessed or used in your work.
Management and Reporting
• Provide accurate and timely information to feed in to regular reports produced by VML Tax team for key stakeholders
• Protect the confidentiality and integrity of VML/ the group.
Planning & Resource Management
• Ensure that the team’s activities are aligned to the VML Tax department Strategy
• Ensure that the team’s activities are planned and communicated effectively to optimise delivery
• Ensure that the direct reports activities are prioritised in line with business needs
• Ensure that direct reports’ individual objectives are clearly defined and agreed with team members as appropriate
• Ensure that direct reports fulfil their responsibilities as defined in their role profiles on a day-to-day basis
• Ensure that individual and team meetings take place to track progress against work allocation
• Accept accountability for direct reports’ objectives
Career Management
• Coordinate the skills and manage the career development of direct reports to ensure they are able to effectively support their customer and have the right Business knowledge
• Coach and develop skills of direct reports on a regular and ongoing basis. Refer requests for internal/external development programs to the Group Senior Tax Compliance Manager, for discussion with the People Team, as appropriate
• Sign off and agree individual Performance Reviews for direct reports in accordance with the VML Performance Review Process
• Provide recommendations to Department Head on pay and remuneration packages for direct reports which are in line with the VML policy
• Keep updated with technical reading.
Budget & Financial Management
• Be responsible for providing information to feed into the annual budget setting activities led by Department Heads
• Ensure fee notes are raised on a timely basis in respect of company portfolio allocation
• Be responsible for working within agreed budgets, where directed to do so
• Ensure invoices and expenses are submitted and approved on a regular and timely basis
• Ensure that the Direct Reports all understand and work to the principles outlined in the VML Expenses policy.
Leadership and Culture
• Work within the team to provide a positive and cohesive influence ; motivate the direct reports providing the necessary support that is valued by the Group, and the individual operating companies
• Actively role model cross functional ways of working and the development of cross functional processes and procedures to support the new ways of working
• Provide strong and inspired leadership to enhance the team, acting as a role model for Virgin Group, ensuring that:-
- People have a clear understanding of the business;
- People are fully engaged and motivated to deliver success;
- The culture, values and ethos of Virgin is role modelled within the VML Tax function;
- A culture of high performance / high delivery is built and sustained throughout the Group
• Act as an escalation point for direct reports
• Consistently champion the Virgin brand values, people values, Unite and Corporate Social Responsibility initiatives, demonstrating the vision for others acting as a role model both within the Group and externally.
Experience
A UK qualified tax specialist with substantial corporation tax experience in either a top professional services firm or in-house in a medium or large corporation. This role would also suit those looking to move into Industry from a Big 4 accounting organisation.
Some personal tax knowledge would be helpful.
Key Skills
The Direct Tax Manager role requires:
• Computer literacy (experience in the operation of Abacus would be useful)
• The ability to construct clear and concise letters / spreadsheets (experience in the operation of Advanced Microsoft Excel is essential)
• Excellent communication / interpersonal skills to be able to effectively deal with the Virgin Group Companies and VML Senior Management team
• Ability to work with minimal supervision using own initiative
• Ability to communicate and present technical issues with people of varying technical capability
• Ability to anticipate needs and “over” deliver wherever possible.
Qualifications
• ACA qualification
• CTA qualification desirable
Key Performance Indicators
Technical
• Corporation Tax returns
o Number of outstanding corporation tax returns as per compliance status reports with reasons why returns are outstanding
o Level and number of basic queries by reference to HMRC correspondence i.e. ensuring that basic queries are minimised.
• HMRC Correspondence
o Number of outstanding letters per HMRC correspondence log
• Audit Provisions
o Solid Interaction / relationship with Finance Team and KPMG audit team
o Assessment of performance to agreed timetables
• Group Tax Compliance
o Effective management and maintenance of overseas compliance schedule
• Business Development
o Regular meetings organised with operating units
o Resolution of tax matters for operating units
Management:
• Internal Customer Satisfaction – VML colleagues
• External Customer Satisfaction – HMRC, Virgin Operating Companies
• Employee Satisfaction
• Process Compliance
• Effective Resource Utilisation
• High performance and development of Tax Assistants/Accountants
Business Delivery:
• Compliance with company & department strategy
• Delivery to time, quality and costs
• define and manage the global strategic tax structuring of all new and existing companies;
• manage the tax risk of the Group; and
• assist the Group in meeting its ongoing tax compliance obligations.
Role Title
Direct Tax Manager
Reports to
Group Senior Tax Compliance Manager.
Stakeholders & Direct Reports
• HMRC
• KPMG, the Group’s auditors
• VML Departments (Mainly Finance and Company Secretarial)
• Operating Company Finance Departments
Direct Reports
• 1 Direct Tax Accountant or 1 Direct Tax Assistant (depending on portfolio of companies responsible for).
Role Summary
This position is to provide a point of support for the corporate tax team on a day-to-day basis and reports to the Group Senior Compliance Manager.
This role involves overseeing and managing either 1 Direct Tax Accountant or 1 Direct Tax Assistant, depending on the portfolio of Virgin group companies assigned to the individual.
There are no budget management responsibilities.
Role Objective
The main purpose of the role is to provide support to the Group Senior Tax Compliance Manager to ensure the Group meets its UK corporate tax compliance obligations.
The role holder will be required to act as a point of reference and support for the Direct Tax Accountants/Assistants to resolve outstanding tax accounting and tax technical issues.
The role encompasses responsibility for all aspects of tax compliance, including but not limited to tax disclosure in UK statutory accounts, group reporting, computations and correspondence with HMRC, Group compliance issues, and various due diligence and project requirements as they arise.
Functional Responsibilities
Tax disclosure in UK statutory accounts
• Establish timetable with Virgin Accountants for the provision of information for preparation of draft computations, sign off of statutory accounts etc. Establish the timetable 2 months before year-end and monitor regularly
• Monitor information flows from Virgin Accountants to VML Tax Accountants and Assistants in the preparation of computations
• Train new Tax Accountants and Assistants in the use of VML tax accounting pack. Ensure completed pack is provided to auditors as part of the tax audit process
• Ensure that Tax Accountants and Assistants liaise with auditors so that they/we are kept aware of the reporting timetable if it is revised
• Review disclosure in statutory accounts prior to signature to ensure that accounts presentation does not prejudice tax treatment
• Take control of the tax information and disclosure in the Virgin Group and allocated sub group consolidated accounts.
Computations/Correspondence
• Arrange a pre-year end planning meeting to discuss significant issues, planning ideas and agree timetable 6 weeks before year end
• Review tax computations prepared by Tax Accountants/Assistants prior to submission to HM Revenue & Customs. Liaise with Group Senior Tax Compliance Manager to resolve any difficult issues
• Ensure that Virgin Accountants are notified of any additional information required to prepare response within 2 weeks of receiving HM Revenue & Customs letter
• Ensure that Tax Accountants and Assistants prepare and submit response to HM Revenue & Customs within 2 months of receiving letter from HMIT. Where appropriate, obtain approval from Virgin accountants prior to submission of response to HM Revenue & Customs
• Review letters prepared for submission to HM Revenue & Customs by Tax Accountants/Assistants. Liaise with Group Senior Tax Compliance Manager on difficult issues.
General tax compliance issues
• Ensure that Tax Accountants/Assistants update historic group relief matrices for submission to HM Revenue & Customs
• Assist in the preparation of P11D returns and PSA settlement return.
• Monitor tax payment deadlines and advise Virgin Accountants of payments as appropriate
• Monitor 2/6 year claims and elections and prepare appropriate elections.
• Assist with the provision of tax information to enable companies to be dissolved in a timely manner
• Where PAYE queries are raised by HMRC with VML Tax directly, ensure that those PAYE issues are directed to Opco’s as appropriate; monitor queries to ensure that they are resolved satisfactorily.
Advisory
• Lead projects generated on allocated group companies
• Be the focal point for providing tax advice on all general queries from allocated group companies
• Assist Tax Directors/Group Senior Tax Compliance Manager on ad hoc group advisory projects as and when required.
Group simplification
• Ensure that all tax information is provided to enable completion of group simplification process.
Management Responsibilities Stakeholder Management
• Ensure that relationships with key stakeholders are managed and maintained.
• Actively promote and develop cross functional ways of working
• Liaise with the Group Senior Tax Compliance Manager to ensure that engagement letters are agreed and in place between VML Tax and the allocated group companies.
Policies and Processes
• Work with direct reports and peers in other parts of the organisation to define measurable processes, procedures and checklists to be employed within the team
• Perform governance to ensure that all applicable processes and procedures are adhered to
• Ensure consistent quality of deliverables out of the team
• Ensure that the (internal/external) customer experience is considered in all work carried out by the team
• Comply with the Company Handbook, people policies and other published procedural guidance, such as equal opportunity, time away from work, resolving problems etc
• Be responsible for complying with the appropriate information security standards and guidelines and to take all reasonable precautions to protect the information accessed or used in your work.
Management and Reporting
• Provide accurate and timely information to feed in to regular reports produced by VML Tax team for key stakeholders
• Protect the confidentiality and integrity of VML/ the group.
Planning & Resource Management
• Ensure that the team’s activities are aligned to the VML Tax department Strategy
• Ensure that the team’s activities are planned and communicated effectively to optimise delivery
• Ensure that the direct reports activities are prioritised in line with business needs
• Ensure that direct reports’ individual objectives are clearly defined and agreed with team members as appropriate
• Ensure that direct reports fulfil their responsibilities as defined in their role profiles on a day-to-day basis
• Ensure that individual and team meetings take place to track progress against work allocation
• Accept accountability for direct reports’ objectives
Career Management
• Coordinate the skills and manage the career development of direct reports to ensure they are able to effectively support their customer and have the right Business knowledge
• Coach and develop skills of direct reports on a regular and ongoing basis. Refer requests for internal/external development programs to the Group Senior Tax Compliance Manager, for discussion with the People Team, as appropriate
• Sign off and agree individual Performance Reviews for direct reports in accordance with the VML Performance Review Process
• Provide recommendations to Department Head on pay and remuneration packages for direct reports which are in line with the VML policy
• Keep updated with technical reading.
Budget & Financial Management
• Be responsible for providing information to feed into the annual budget setting activities led by Department Heads
• Ensure fee notes are raised on a timely basis in respect of company portfolio allocation
• Be responsible for working within agreed budgets, where directed to do so
• Ensure invoices and expenses are submitted and approved on a regular and timely basis
• Ensure that the Direct Reports all understand and work to the principles outlined in the VML Expenses policy.
Leadership and Culture
• Work within the team to provide a positive and cohesive influence ; motivate the direct reports providing the necessary support that is valued by the Group, and the individual operating companies
• Actively role model cross functional ways of working and the development of cross functional processes and procedures to support the new ways of working
• Provide strong and inspired leadership to enhance the team, acting as a role model for Virgin Group, ensuring that:-
- People have a clear understanding of the business;
- People are fully engaged and motivated to deliver success;
- The culture, values and ethos of Virgin is role modelled within the VML Tax function;
- A culture of high performance / high delivery is built and sustained throughout the Group
• Act as an escalation point for direct reports
• Consistently champion the Virgin brand values, people values, Unite and Corporate Social Responsibility initiatives, demonstrating the vision for others acting as a role model both within the Group and externally.
Experience
A UK qualified tax specialist with substantial corporation tax experience in either a top professional services firm or in-house in a medium or large corporation. This role would also suit those looking to move into Industry from a Big 4 accounting organisation.
Some personal tax knowledge would be helpful.
Key Skills
The Direct Tax Manager role requires:
• Computer literacy (experience in the operation of Abacus would be useful)
• The ability to construct clear and concise letters / spreadsheets (experience in the operation of Advanced Microsoft Excel is essential)
• Excellent communication / interpersonal skills to be able to effectively deal with the Virgin Group Companies and VML Senior Management team
• Ability to work with minimal supervision using own initiative
• Ability to communicate and present technical issues with people of varying technical capability
• Ability to anticipate needs and “over” deliver wherever possible.
Qualifications
• ACA qualification
• CTA qualification desirable
Key Performance Indicators
Technical
• Corporation Tax returns
o Number of outstanding corporation tax returns as per compliance status reports with reasons why returns are outstanding
o Level and number of basic queries by reference to HMRC correspondence i.e. ensuring that basic queries are minimised.
• HMRC Correspondence
o Number of outstanding letters per HMRC correspondence log
• Audit Provisions
o Solid Interaction / relationship with Finance Team and KPMG audit team
o Assessment of performance to agreed timetables
• Group Tax Compliance
o Effective management and maintenance of overseas compliance schedule
• Business Development
o Regular meetings organised with operating units
o Resolution of tax matters for operating units
Management:
• Internal Customer Satisfaction – VML colleagues
• External Customer Satisfaction – HMRC, Virgin Operating Companies
• Employee Satisfaction
• Process Compliance
• Effective Resource Utilisation
• High performance and development of Tax Assistants/Accountants
Business Delivery:
• Compliance with company & department strategy
• Delivery to time, quality and costs
Published at 11-08-2010
Viewed: 5 times
Viewed: 5 times