Investment Taxes Assistant Manager – Group Tax (12 Month FTC)

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Job Description Summary

Job Description

JOB TITLE: Investment Taxes Assistant Manager – Group Tax (12 Month FTC)

SALARY: £48,987 - £54,430

LOCATION(S): Edinburgh, Bristol, Halifax & Leeds

HOURS: Full-time

WORKING PATTERN: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites.

About this opportunity

At Lloyds Banking Group we’re driven by a clear purpose: to help Britain prosper. Our colleagues are passionate about making a difference to customers, businesses and communities. Finance is key to that success, by securing and building the financial strength and performance of the Bank. But we need dedicated people like you if we’re to continue to innovate and adapt to the meet the ongoing needs of our customers. Join us and you can make a real difference.

Could you help us make this possible?

The Operational Taxes Team is part of Group Tax and is responsible for the oversight of the Operational Tax risks of Lloyds Banking Group as a whole.  This role involves working as part of a team and would provide informative, high quality, sophisticated output, advice and mentorship tailored to senior partner needs, operating as an Operational Tax specialist. The main focus of the role will be on Investment Taxes for the Insurance & Wealth business.

We’re looking to appoint an assistant manager on a 12-month fixed term contract. Your role will be to provide oversight of tax processes, completed by appointed Custodians, including receipt of overseas investment income net of treaty withholding tax rates, tax reporting and tax compliance processes for UK Open Ended Investment Companies (OEICs) and investment funds.  These processes are undertaken by third party outsourcers, and the oversight work ensures that they are carried out to the required high standards and timescales as detailed in service level agreements, so that the funds’ tax position is fully understood and controlled in an efficient manner.

You would also review withholding tax processes for territories and rates not covered by the outsourcing arrangements.  This means you’ll work closely with project teams, advisory teams and external advisors on developments affecting the investment portfolio, to grow our service and make valuable contributions for our customers by improving their return on investment.

What you’ll be doing:

• Help oversee double taxation treaty work completed by Custodians.

• Complete and supply tax treaty documentation and supplementary information to external parties.  

• Ensure tax work by external Custodians and Fund Administrators is completed per terms of Service Level Agreements, providing feedback on the service received.

• Collaborate with external advisors to file withholding tax recovery claims, where countries / rates aren't supported by Custodians, to increase the OEICS return on investments.

• Work with LBG tax colleagues on projects and initiatives including OEIC closures and adopting automated solutions to increase efficiency and enhance risk management. 

• Keep abreast of foreign market tax developments and provide input on Audit enquiries.

Why join us?

We’re on an exciting journey to transform our Group and the way we’re shaping finance for good. We’re focusing on the future, investing in our technologies, workplaces, and colleagues to make our Group a great place for everyone.

What we’re looking for:

• Specialist Investments Tax knowledge including overseas tax and withholding tax rules for Open Ended Investment Companies (OEICs) and other collective investments.

• Proven track record of working in the tax function of a large corporate group or professional accounting organisation, preferably in the Financial Services sector.

• Experience of providing oversight of outsourced withholding tax and OEIC tax compliance processes including the appointment of overseas tax agents.

• Experience of attaining global double taxation treaty rates, via relief at source, reclaims and completion of associated tax documentation.

• Understanding of withholding tax accounting policies.  

• A tax or accounting qualification is preferable. 

• A natural when it comes to relationship management skills, with a proven ability to analyse, challenge and influence.

• As an Advisory role, experience in managing different partner relationships. 

• Strong communication skills and ability to work with a range of partners.

• Ability to see the bigger picture and think commercially.

You’ll be joining an experienced Operational Taxes team that advise the Group on all Operational Taxes matters including Pensions tax reporting and all customer tax reporting including Bank & Building Society Interest (BBSI), Other Interest (OI), ISAs, Foreign Account Tax Compliance Act (FATCA), Common Reporting Standard (CRS) etc. For this role, it’s the Investment Tax experience that is key.  This is a great opportunity to use your knowledge to contribute to our investment funds and grow your experience to help you shape an exciting career!

We know that great talent comes from many backgrounds. Whilst this job advert may reference specific years of experience, we recognise that skills are developed in many ways, so if you have relevant, transferable experience, we encourage you to apply.

This is a place for you

We offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. And, as a Disability Confident Leader, we guarantee interviews for a fair and proportionate number of applicants who meet the minimum criteria for the role with a disability, long-term health or neurodivergent condition through the Disability Confident Scheme.

We also offer a wide-ranging benefits package, which includes:

• A generous pension contribution of up to 15%

• An annual performance-related bonus

• Share schemes including free shares

• Benefits you can adapt to your lifestyle, such as discounted shopping

• 28 days’ holiday, with bank holidays on top

• A range of wellbeing initiatives and generous parental leave policies

Ready to make an impact? Apply today!

At Lloyds Banking Group, we're driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.

We keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks.  We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person. 

We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.