Overall job purpose
To manage all aspects of RSM partnership and partners taxcompliance within NFO, ensuring that tax compliance matters for 10 RSM LLPs andcirca 400 partners are completed on time and accurately. You will be expectedto liaise with HMRC contacts on personal tax matters as and when required.
To provide support to the Chief Financial Officer andFinance Partner to prepare and maintain Governance documentation, and provideadvice on relevant partnership tax matters, such as adherence to SalariedMember rules.
Responsibilities
* Liaise with RSM’s IT development team to update and continually develop and improve portals made available to RSM partners through which they provide tax information to the in-house tax team.
* Prepare a yearly template tax calculation used to identify partners’ tax reserves on annual drawings. You will be required to check the yearly tax reserve calculations on partners’ drawings for circa 400 partners.
* Review 10-yearly partnership tax computations prepared by our Corporate Reporting team, forwarding to the Head of Professional Practices for review, and subsequently discussing with the CFO to sign off.
* Provide feedback and training to the Corporate Reporting team on the partnership tax computations prepared. Identify areas and ways to improve the yearly tax computations, both in preparation and presentation.
* Prepare tax reserve calculations for all RSM partners on their total income by mid to late September to include in their yearly current accounts.
* Prepare partnership tax returns for review and approval and submit to HMRC.
* Review circa 400 RSM partner tax returns before issuing to partners for review and approval.
* Prepare partnership tax liability cashflow forecasts.
* Co-ordinate and review the payment of income tax on behalf of the partners in January and July each year, via composite tax payment.
* Liaise with the Finance Partner to answer any queries on partners’ tax reserve balances during the yearly reconciliation process of partner current accounts in February and March.
* To be familiar with the RSM LLP Members Agreement and understand its financial implications.
* Liaise with the Finance Partner; review RSM partners’ position in relation to HMRC’s Salaried Member rules; and report to the CFO and Finance Partner findings and recommended actions.
* Provide ad-hoc tax advice to partners - commonly advice on pension unused allowances. More complex advice may be required periodically, which may require liaison with specialists elsewhere within RSM.
* Respond to HMRC enquiries.
* Provide assistance, where required, on partnership withholding tax claim forms.
* Prepare a yearly charity repayment claim and two trust tax returns.
* Prepare policy documentation for risk management and process improvement purposes, in relation to RSM partnership and partners’ tax.
* Delegate work to the Partnership Tax Assistance as appropriate and be mindful of their career development needs.
* Meet CPD requirements.
* Develop an understanding of the firm's culture and strategy and how change is achieved, whilst being a custodian of the firm’s values.
Personal and professionalqualities
* Sound and demonstrable experience of partnership tax and private client tax.
* CTA qualified preferred, or proven in-house tax compliance and advisory experience.
* Proven experience in client handling and managing a large portfolio.
* Excellent communication skills (written and verbal) with experience of presenting at Senior Management level.
* Ability to produce work of a high quality and with attention to detail.
* A self-starter – proactive and tenacious, but diplomatic; must be a completer/finisher
* Proficient in Word, Excel, Outlook and CCH tax software