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Corporate Tax - Financial Services - Tax Assistant Manager

Date: Jul 7, 2021

Location: Manchester, United Kingdom

Company: KPMG UK

The Role

We are looking for an assistant manager to provide tax advisory services to our clients in our busy Financial Services Corporate Tax team within the Manchester corporate tax department. We anticipate that the individual will provide corporate and international tax advice specific to our financial institution clients and support the team by building up technical knowledge in order to run a portfolio of clients with manager/senior manager support. In order to provide a broad exposure to financial services tax, the successful candidate would work across the following three specialisms:
• EU Funds Team
• Operational Taxes Team
• General Financial Services Corporate Tax team, with a particular focus on Asset Management
Our clients within the Financial Services Corporate Tax Team include some of the largest financial institutions including investments funds, pension funds, challenger banks, building societies and life assurance companies in the UK. In addition we work with a number of US investment funds, Canadian funds and sovereign wealth funds.

This opportunity will provide the individual with an opportunity to gain experience of a number of financial institutions across a number of different territories offering exposure to the unique and complex tax issues faced by our clients. It will also provide an opportunity to quickly develop management skills and be involved in business development on those clients and also within the wider team across the UK.

The Responsibilities
The successful applicant will have responsibility for providing corporate and international tax advice to a wide range of financial institution clients, in particular within the asset management sector. This work would include:
• Filing withholding tax reclaims on behalf of funds to recover withholding tax across various EU jurisdictions. Withholding tax and reporting analysis of cross border transactions, new product offerings and group structures

• Keeping up to date with various EU law to ensure clients are kept fully aware of implications on the various withholding tax reclaims filed by fund clients

• Liaise with overseas KPMG offices to prepare appeals where withholding tax reclaims are rejected and assist with potential litigation in overseas EU territories

• Review tax compliance position of funds to ensure filing obligations have been met

• Tax due diligence of private equity, alternative and infrastructure investments considered by funds and advise on the UK and overseas tax implications

• Being involved on tax advisory and planning work on their client portfolio and working with specialists to deliver expertise to the local market

• Forming a key part of the tax client service team on a number of our regional financial services clients and working closely with other assistant managers and the managers/senior managers to ensure the client receives an excellent level of service.

• Helping to prepare first drafts of corporation tax advisory work for financial services clients and working with more senior members of the team to finalise the advice.

• Where appropriate, working alongside other members of the team in a tax audit role to ensure tax numbers in statutory accounts are robust and supportable and also preparing such numbers for non-audit clients.

• Helping develop the KPMG business proposition for the US Qualified Intermediary and the Automatic Exchange of Information requirements (FATCA and CRS) and operational taxes more broadly

• Drafting technical responses to clients on operational taxes questions. Assisting with operational tax advisory and compliance work for a portfolio of clients and working with other specialists to deliver expertise to the market

• Reviewing and advising on operational tax procedures and processes within large financial institutions

• Being the principal contact with smaller clients on day to day tax matters and working with senior managers and managers on larger clients

• Coaching and developing junior members of staff

• Assisting with business development work including attending client events and networking events.

The individual
• CTA, CA, ACA or ACCA or equivalently qualified
• A commercial approach to resolving issues and providing advice
• High level analytical skills
• History of developing strong client relationships
• Project co-ordination/management skills and the ability to identify and pursue business opportunities
• Strong inter-personal skills
• High level of drive and enthusiasm with a positive attitude
• Ability and willingness to keep up to date technically and a continuous desire to seek feedback and improve.
• Based in Manchester but will be required to travel in the UK from time to time and overseas if required

The department/team

The Corporate Tax department in Manchester consists of circa 50 members. This is a dynamic team which manages the tax work for a mixed portfolio of fund clients, from UK financial institutions, UK investments funds, UK pension funds, challenger banks, building societies, UK life assurance companies, US investment funds, Canadian funds and sovereign wealth funds. The team works very closely with other functions in its market activity and there is a strong focus to encourage everyone to play a part in business development and providing support to technical specialists as and when needed (e.g. M&A, Indirect Tax, Property).

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