Indirect Tax Assistant Manager - IPT

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Role Title: Indirect Tax Assistant Tax Manager - Insurance Premium Taxes

Department: Taxation

Division: Finance

Location: London

Type: Permanent

About the Role:

Reporting to the Indirect Tax Business Partner the successful candidate will manage and control the accounting of Insurance Premium (IPT) and Parafiscal taxes across the respective LSM countries in compliance with all appropriate tax legislation.

About the Department & Team:

The LSM Tax Department is comprised of a dynamic team of tax professionals managing LSM's internal tax matters and compliance processes as well supporting other internal functions and businesses across the LSM network across the globe.

Key Responsibilities:

• Extract IPT data from LSM source systems, carry out validation checks raising queries as appropriate; submit to outsourced providers in agreed format and to required deadlines
• For UK and ROI IPT returns; extract IPT data, carry out validation checks raising queries as appropriate; prepare returns to required format in preparation for filing and payment
• Act as the primary point of contact with our IPT outsourced providers to ensure the timely preparation and submission of all returns and associated payments
• Work with outsourced providers and the wider Tax team taking responsibility for the automation of IPT returns within the UK and other key jurisdictions

• Take responsibility for designing appropriate governance and controls with regard to our IPT processes as well as testing IPT controls

• Take responsibility for developing and maintaining documentation of IPT processes
• Act as a key indirect tax point of contact for the wider business providing ad hoc advice in relation to IPT and other parafiscal tax queries
• Proactively manage the group's relationship with HMRC and European tax authorities with respect to IPT, including timely responses to audits
• Provide input into processes to ensure internal timely reconciliation of IPT accounts linking in with wider business colleagues as appropriate
• Provide input on new systems and upgrades to existing accounting systems and front-end systems (web portals) to ensure premium taxes are properly identified and accounted for
• Maintain industry knowledge and an understanding of Insurance Premium Taxes and practices globally to evaluate their impact on the business and on indirect tax policies; and
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules ,Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

Other Responsibilities Include (not exhaustive):

• Provide clear communication to the business of legislative changes, or recent case law and of their impact to the business
• Provide input into raising awareness in the business to minimise errors via a rolling education programme
• Develop strong relationships with other functions which impact tax and premium taxes in particular; and
• As part of this role, there is also opportunity to support the Indirect Tax Assistant Manager in relation to VAT reporting for the UK and other key jurisdictions, as well as offering support in relation to ad hoc VAT business queries.

Skills and Experience:

• Good understanding of IPT
• Have an Insurance Premium Tax background within a corporate or accountancy firm
• Strong Microsoft Excel skills
• A self-starter, with proven ability to assist implement new procedures and take ownership in delivering solutions
• Excellent admin, able to manage priorities and achieve internal and external deadlines; and
• Excellent team player, strong relationship skills and ability to communicate effectively both in writing and verbally

Advantageous

• ACA or CTA qualified
• Experience of European premium tax regimes outside of the UK
• Experience of the insurance industry
• Experience of VAT
• Experience of accounting packages and Alteryx; and
• A second language.

About Liberty Specialty Markets (LSM)

Liberty Specialty is part Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

• Offering a vibrant and inclusive environment and committing to their career development.

• Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment

• Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals

• A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

For more information, please follow the links below:

https://www.libertyspecialtymarkets.com/gb-en/careers/working-for-us

https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-inclusio...