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Senior VAT Manager, Banking / Energy - £120,000

If you are interested in this candidate, please contact Andrew Wilson via email awilson@cerfinancial.co.uk or call on 0207 626 6065.

00044659

PROFILE:

A highly motivated and qualified Tax professional with extensive experience gained while working in the Banking, Wealth Management, Stockbroking, Commodities and Energy sectors, including Indirect Tax Compliance and Advisory, Corporation and Employment Tax reporting, Management and Financial Accounting. Naturally diligent, collaborative, hardworking and an enthusiast team player with a proven ability to challenge and constantly improve existing systems and processes.

SKILLS:

  • Adaptability
  • Teamwork and collaboration
  • VAT Technical Knowledge
  • Coaching and managing teams.
  • Good at rebuilding broken compliance and accounting processes
  • Excellent Communication
  • Systems Microsoft Excel & Word, Power-Point. SAP, Open-Link (commodities), EY’s Global VAT Reporting Tool and e-filer, PWC e-filer, Co Pilot.

QUALIFICATIONS:

  • Qualified Accountant – ACCA (FCCA)
  • University: BA (Hons) Accounting and Finance
  • College: A Levels: Government & Politics - Accounting – Economics
  • Secondary School: GCSE: Accounting, Economics, Office Procedures, English, Maths

CAREER HISTORY:

January 2023 - Present

Energy Provider

Senior Manager – Indirect Tax

  • Review of VAT compliance processes and performance of monthly and quarterly reviews of group and separately registered VAT returns using a global VAT reporting tool.
  • Submission of VAT returns via the GVRT e-filer
  • Preparing VAT return analytical review analysis for the Head of VAT and Head of Tax as part of the Group VAT return signoff and submission process.
  • Training, developing and coaching direct report.
  • Managing the VAT compliance and system aspects of the HMRC billing system audit including ongoing liaison with HMRC; working with Operations, Finance and IT to generate reports and other data requested by HMRC.
  • Reviewing and advising on new products and deals such a Power Purchasing Agreements (PPA’s) / Battery Optimisation and ensuring they were compliant from a technical and VAT reporting perspective.
  • Reviewing VAT clauses of sale and purchasing agreements (SPA’s) and Balance Sheet completion statements for accuracy from a VAT perspective.
  • Advising on the VAT liability of the purchase of assets and debt.
  • Attending Senior Accounting Officer (SAO) meetings with the wider Tax Team and Finance Directors to discuss current Indirect Tax issues and risks.
  • Responsible for ensuring that there is a robust and easy to use Indirect Tax Risk and Control Framework and it aligns with recent HMRC guidance in this area.
  • Carried out an E2E integrity review of the VAT return and reporting processes to identify any risks and/or control weaknesses.
  • Reviews of quarterly Climate Change Levy (CCL) returns
  • Project lead for Indirect Tax automation and the elimination of manual adjustments contained in the VAT return and reporting processes.
  • Working with third parties, IT, Ops, Accounts Payable and Accounts Receivable teams to fix or introduce new Tax codes, automate systems / interfaces and eliminate manual adjustments.
  • Preparing and submitting ECN’s to HMRC and responding to follow up queries.
  • Regularly attended company and industry meetings to discuss current Indirect Tax issues
  • Attended quarterly HMRC catch-up meetings to raise and discuss current Indirect Tax issues
  • Regular interaction with external advisors to discuss compliance and business-related issues.
  • VAT Lead on the implementation of the new billing system (Kraken) for retail and SME customers and ensuring the system was VAT compliant.
  • Regular collaboration with the Sales, Finance and Legal teams to walk through new products, acquisitions and disposals and improve our general understanding of the business.
  • Providing regular VAT technical support to the VAT and CCL customer operations facing Team
  • Key contact for external auditors regarding queries and the provision of data relating to VAT transactions and balance sheet positions.

May 2010 - April 2022

Banking

Vice President

  • Making Tax Digital (Investment and Corporate Bank) – end to end review of front and back-office systems and working with IT, Finance and other colleagues in the MTD Project Team to configure, design and automate the VAT return process.
  • Managed a Team of 5 (UK and offshore) with oversight of the VAT compliance and reporting process for the Corporate and Investment Banking areas.
  • Review and oversight of the commodities (Oil, Gas, Electricity, Metals) VAT returns for the UK and Canada.
  • Review and oversight of the Investment and Corporate Bank VAT returns prepared by our India based VAT Compliance Team.
  • Streamlining and rebuilding the VAT reporting and accounting processes within the Investment Bank and Commodities business area.
  • Preparing VAT recovery budgets and forecasts and overseeing the VAT recovery accounting process.
  • Providing VAT advice in relation to third party contracts, new product proposals and reviewing VAT clauses and the VAT accounting for the sale of existing businesses.
  • Review and implementation of the bank new Partial Exemption Special Method, including assessing and presenting different methods and outcomes to Management and HMRC. (Values, Trade Counts, and Sales Credits).
  • Reporting to and working with the Head of Indirect Tax in relation to VAT compliance, advisory and accounting issues.
  • Ownership, review and signoff of UK and Overseas VAT reconciliations prepared by the team.
  • Built, developed and maintained positive relationships with Finance, Operations and Front Office on an ongoing basis.
  • Training and coaching direct reports and their wider teams to take on greater responsibility and accountability.
  • Ad hoc advice and support to Accounts Payable and Finance in relation to the correct VAT liability for coding and posting to the ledgers.
  • Managing and overseeing system configurations due to legislative changes such as Brexit, increases in VAT rates and modelling their impact on VAT recovery in the various Partial Exemption sectors within the Bank.
  • Oversight and engagement with Internal Auditors for the Commodities and Investment Banking business areas to ensure audits outcomes were successful.
  • Attending monthly risk forums to discuss current issues, new products, VAT cases and risks inherent within the VAT return processes.
  • Supported the new Head of VAT for Ireland (post Brexit) by providing advice and assisting in the review of VAT reporting processes in Ireland to harmonise them with the UK.
  • Liaising with HMRC and the German and Canadian Tax Authorities during audits and investigations into VAT returns and the Banks partial exemption special method. (PESM)

October 2007 - April 2010

Banking

VAT Manager

  • Quarterly VAT reporting for the banks entities including the co-ordination, review and consolidation of all UK VAT returns and Voluntary Disclosure Notices for submission to Group Tax.
  • Management of the day- to- day VAT compliance for UK entities within the bank, Including providing VAT advisory support to Financial Control, Infrastructure and Front Office areas.
  • Ensuring that procedures, decision trees, processes and systems were up to date and maintained in accordance with HMRC policy and local / EU legislation.
  • Managing the quarter end VAT receipts and payment process and posting the associated VAT Journals.
  • Co-ordination of the end-to-end integrity review of the VAT return process to ensure controls were robust and VAT returns were accurate.
  • VAT recovery budgeting and forecasting for the Wealth business area and providing updates to management
  • Assisting in the evaluation of VAT planning initiatives and gathering data from SAP / bespoke front-end systems for use in calculating VAT recovery savings.
  • Review of new products propositions to ensure the appropriate VAT coding was built into accounting and reporting systems.

December 2003 - October 2007

Banking

Assistant Tax Manager

  • Quarterly review of VAT Returns prepared by the team in Glasgow prior to submission to Group Tax.
  • Responsible for preparing and posting VAT Journals.
  • Preparation of Voluntary Disclosure Notices
  • Preparation of Intrastat and ECSL returns.
  • Assisting with the review of SAP exception reports to check the accuracy of coding and where necessary file voluntary Disclosure Notices to recover or pay additional VAT.
  • Providing advice and support to front office and associated departments regarding the VAT liability status of clients and new products and services.

July 2002 – December 2003

Management Services

Assistant Tax Manager

  • Preparation of quarterly VAT returns, Voluntary Disclosure Notices and Annual Adjustment calculations for companies within the Gerrard group
  • Corporation Tax Returns and Deferred Tax balance analysis
  • Employment Tax Returns

January 1995 – July 2002

  • Non-Tax roles

References Available Upon Request

If you are interested in this candidate, please contact Andrew Wilson via email awilson@cerfinancial.co.uk or call on 0207 626 6065.
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