Assistant Tax Manager
Job Title: Assistant Tax Manager
Location: UK, London
Employment Type: Full Time
To Apply: Please email a covering letter and your CV (stating the position you are applying for) to: firstname.lastname@example.org
Objective of Role:
Working in close collaboration with the European and Global LaSalle Tax Directors, European COO/CFO and LaSalle's Finance Directors, the role assumes responsibility for all tax matters related to our UK business and fund structures in Luxembourg or Jersey. The ATM is responsible for tax matters at all stages of the real estate investment lifecycle including fund structuring, transaction support, compliance, VAT (pan-Europe), CIS etc. and, subsequently, liquidation of UK-related Fund structures (pan-Europe). Although a UK biased role, it is important for LaSalle to have consistency and alignment with the Continental European business and, with the European Tax Director will also monitor all tax applicable regulatory changes impacting LaSalle sponsored funds and separate account arrangements (e.g., BEPS, AIFMD). Communication of such changes in the tax environment and analysis of the impact for LaSalle and its clients is a particular focus. General Tax Education is an area that LaSalle wants to develop and the ATM will educate and communicate best practices to the wider business, often face to face. The ATM will be a source of advice for Financial Controllers in how tax legislation and theory impacts them in practice. Such education will be done in conjunction with external tax advisors.
The objective is to offer a ‘best-in-class’ service offering to the business and to our clients at all times whilst developing tax knowledge and developing the right processes and controls to manage tax risk.
The ATM will report directly to the European Tax Director with a second reporting relationship to the Global Head of LaSalle Tax based in Chicago and European CFO/COO. Location: London but with European travel if required.
Role and Accountabilities:
Fund and Investment structuring:
- Actively support Controllers and Fund teams by providing full guidance (and via tax advisors) on appropriate structures and tax consequences relating to UK investment – both direct real estate and debt investments.
- Assist the European Tax Director in the active structuring of UK investment focused funds, working with wider European colleagues (e.g. in Luxembourg) and tax advisors to oversee implementation of advice. This will require close collaboration with the Finance and both internal and external Legal teams across Europe.
- Support and educate Fund and Finance teams on the operation of structures and the applicability of new structures as they develop in the market.
- Provide active tax support for UK transactions including review of tax underwriting assumptions and managing tax aspects of transaction processes including review of Investment Committee minutes.
- Present tax issues on these transactions to the Investment Committee with recommendations.
- Support transactions teams and provide direct input and guidance on tax risks, implementation of third party structuring advice and recommend negotiating strategies to key stakeholders e.g., tax reps and warranties or purchase of tax insurance.
Management of Investment Structures
- Support Controllers in UK and Jersey / Luxembourg with the periodic review of substance and corporate governance policies as well as advising on complex tax audits
- Recommend internal financing flows in investment structures
- Lead on VAT and transfer pricing policies / procedures e.g. internal loans and charging of management fees.
- Communicate changes in tax rules and the external environment to others with practical guidance on changes in approach or underwriting. Organise and lead local training.
- Provide management and support to fund controllers in relation to the tax compliance process
- Assist the European Tax Director in assessing the impact of BEPS on investment structures & make recommendations to key stakeholders as appropriate
- Manage local advisory relationships – especially on transactions – and managing timelines associated thereto.
- Educate internal teams on tax sensitivities and issues and develop processes to manage tax risks.
LaSalle Business Operations:
- Manage tax issues, in particular VAT arrangements. Assist local teams on contract reviews and consideration of cross-border arrangements and transfer pricing. Although the ATM role is UK focused, transfer pricing applies across all the European Business
- Identify changes, new tax requirements and assist / manage implementation by LaSalle entities
- Act as Director on some UK entities, if required.
- Lead manager / coordinator on all tax matters related to liquidation of legacy funds and be the 'go-to' and center of knowledge in liquidation.
- Provide guidance and support for the UK team on corporate and tax operational matters.
- Actively working with LaSalle’s Finance Directors and CFO/COO; European Legal Counsel; European Head of Compliance and, above all, with Fund Managers, Asset Managers and other stakeholders in supporting the business and being an excellent advocate for the wider European Tax team’s contribution to the business;
- Development and adoption of best practices (importing & exporting pan-Europe / global best practice) within LaSalle.
Required Qualifications & Experience
- Qualified Accountant or Lawyer with a minimum four years post qualification industry experience
- Experience of UK real estate funds with European cross border investment experience a plus
- Strong technical experience / knowledge of UK real estate taxation with a focus on inbound investment – knowledge of cross-border structures is a plus
- VAT expertise and ability to be 'center of knowledge' for all EU VAT issues, advice and education
- Knowledge of European real estate investment structures
- Ability to quickly identify key tax issues and communicate effectively, quickly and clearly to non-specialists
- Commercial, tested business acumen with ability to multi-task and prioritise multiple projects.
- Accounting knowledge and ability to analyse financial statements is an advantage (but not a pre-requisite)
- A pro-active team player able to work with many different teams, personalities and styles, with excellent communication, organisation and project management skills, a very strong work ethic and a positive ‘can-do’ attitude.
- Someone who commands respect and can deliver sound, practical, well-thought through recommendations and interact confidently with senior management.
- Experience of working with cross border teams and cultures is an advantage
- Excellent verbal and written communication skills.
LaSalle is an Equal Opportunity Employer and encourages applications from all sections of the community