A boutique global investment banking advisory firm is currently recruiting for a Partnership Tax Senior Manager to join their existing in-house tax function. They will have lead responsibility for all tax matters related to their UK partnership, a mixed member partnership with over 50 individual members and two corporate members. The partnership manager will be principally responsible for managing all matters related to the partnership's and members' tax compliance obligations, and will also contribute to other business-related tax matters (global mobility, tax related projects).
Main Responsibilities
- Provide exceptional client service to the c.50 members of the UK LLP, through timely and accurate reporting and recordkeeping, including:
- Management of members' current accounts, including monthly/quarterly review and sign off on balances for SOX purposes
- Calculation of net annual variable profit share, following annual true-up up of reserves
- Annual calculation/true-up of members year-end tax reserves
- Calculation and execution of self-assessment payments on account for all individual members; review and distribute POA statements and memos
- Preparation of individual members' annual tax return packs
- Review of payments to members on annual RSU awards (tax settled via shares repayment)
- Preparation of final tax reserves statement for outgoing members
- Collaborate with Human Capital team to review schedule of terms (SoT) for prospective partners, ensuring that proposed terms conform to the LLP's profit-sharing principles and comply with local legislation
- Collaborate with Human Capital team to admit new members into the partnership, including HMRC registration, calculation and set-up of monthly drawings
- Assume lead role in annual Salaried Member Review testing, ensuring that methodology is robust and conclusions are sound.
- Oversee the preparation and filing of the annual partnership tax return
- Remain abreast of legislative changes and informed of significant developments affecting UK partnerships; brief senior management on matters that may affect the LLP
- Provide input into the fortnightly rolling twelve-month cash flow forecast for all cash flows relating to individual members of the LLP (e.g. drawings, distribution of profit shares, payments of interest, payments on account)
- Provide assistance to Head of Tax on current and future partnership projects
You will be a qualified CTA/Qualified accountant (ACA/ACCA) with at least 5 years relevant post-qualified experience. You will need to have a strong background partnership tax accounting and compliance, as well as RSU accounting. You will need to have the credibility to manage senior level stakeholders, including advising and keeping them up to date on their own tax positions. You will be need to have the ability to keep on top of the day to day requirements of this role, whilst providing valuable input and support to the Head of Tax on bigger picture project and planning work.
