European Tax Manager
Company: LaSalle Investment Management (“LaSalle”)
Job Title: European Tax Manager
Objective of Role: Working directly for the Head of European Tax and collaborating with the Global Head of Tax, European Fund Managers and Transaction Officers, the European COO/CFO and LaSalle's Finance Controllers, the role assumes responsibility for tax matters related to our European business and fund structures including offshore vehicles in Luxembourg or Jersey. This role is responsible for tax matters at all stages of the real estate investment lifecycle including real estate investment structuring, transaction support, compliance, VAT (pan-Europe), CIS, DAC 6 and LaSalle corporate tax matters including year end compliance and tax provisions etc. and, subsequently, liquidation of fund structures post divestment.
Although London based role, it is important for LaSalle to have consistency and alignment across the entire European platform and, with the Head of European Tax, 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 a focus (e.g. underwriting assumptions, modeling reviews and tax legislation changes) and the successful candidate will educate and communicate best practices to the wider business, often face to face. They 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.
Reporting Relationships: This role will report directly to the Head of European Tax with an ‘indirect’ reporting relationship with the Global Head of Tax based in Chicago and European CFO/COO.
Location: London but with European travel which will be required on a reasonably frequent basis (i.e., Paris, Luxembourg, Munich).
Role and Accountabilities:
Fund and Investment structuring:
- Actively support Controllers and Fund teams by providing
fullguidance (and via tax advisors) on appropriate structures and tax consequences relating to pan-European investments – both direct real estate and debt investments Structuring involves LaSalle pan-European colleagues, legal and compliance and close collaboration will always be required colleagues 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 pan-European transactions including review of tax underwriting assumptions and managing material tax aspects of the transaction processes including review of Investment Committee submissions for investment opportunities.
- Present, if required, tax issues on these transactions to the Investment Committee with recommendations.
- Support transactions teams, and, with the Head of European Tax, provide input and guidance on tax risks, implementation of third party structuring advice and recommend, where required, negotiating strategies to key stakeholders e.g., tax reps and warranties or purchase of tax insurance.
- Active working experience in recent EU MDR reporting regulations including technical analysis and reporting process. The role would include management of the EU MDR process and the internal software system.
Management of Investment Structures:
- Support Controllers across the European platform 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 including review of transfer pricing reports and assessment of the findings. Discussion with European fund controllers on approach and relevant documentation to be implemented. Also ongoing management of the AFIM transfer pricing model.
- In conjunction with the Head of European Tax, 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 / DAC 6 process
- Assist the Head of European Tax in assessing the ongoing impact of BEPS on investment structures and 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.
- Identify changes, new tax requirements and assist / manage implementation by LaSalle entities
- 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 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, implementing appropriate policies & procedures and adopting digitalisation and or tax applications where applicable
Required Qualifications & Experience:
- Qualified Accountant or Lawyer with a minimum four years post qualification industry experience
- Experience of real estate funds with European cross border investment experience a plus
- Strong technical experience / knowledge of 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 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