Insurance Tax Manager

Job Description

Company DescriptionHelping over ten million people around the world manage their savings, retirement plans and life insurance requires a lot of people behind the scenes. Its up to us inL&G Group functions- which includes our tech and digital teams, Group Finance, HR, Risk andCorporate Affairs - to provide the essential support services that all areas of the business need, here in the UK and overseas. Simply put, we enable everyone at Legal & General to do what they do best. That means were helping to improve our customers livesand contributing to the success of the business every day. Recruiter: Craig Cooper Internal Closing Date: 27th May 2024Job DescriptionWere recruiting for an Insurance Tax Manager who will be responsible for the UK tax compliance and reporting for the Insurance and Reinsurance companies within the group. Additionally, this role will become a SME in UK Insurance Tax and support the Head of Tax Compliance, Reporting & Risk and the Head of Insurance & International Tax on advisory and tax projects as required. What youll be doing:

• You will complete the UK corporation tax computations and returns (using Alphatax software) for the Insurance and Reinsurance companies and coordinate responses to HMRC queries. You will prepare double tax relief calculations and expense analysis for Insurancecompanies.
• You will perform quarterly group reporting for the main Insurance entity in the group using Onestream tax reporting software and review Solvency II tax calculations prepared by finance teams.
• You will lead on technical tax matters as they pertain to Insurance tax compliance and reporting and build knowledge to become an Insurance Tax SME within the Group Tax Team.
• You will assist with implementation of Pillar II rules as they impact UK compliance portfolio.
• You will provide tax support for projects and transactions in the UK Insurance and wider business as required. This may include tax input to Penson Risk Transfer transactions or new products.
• You will liaise with key finance and business contacts to build networks and ensure smooth management and communication of the compliance and reporting processes. You will represent Group Tax across the business and become a key point of liaison for Insurancetax matters. Business Partnering with finance teams across the Insurance divisions.
• You will provide support with ongoing HMRC enquiries and open issues across all taxes including VAT and other non-corporation tax areas. Build knowledge of Operational Taxes as they relate to our insurance products and support the Head of Operational Taxeson an ad hoc basis as required. Operational and product taxes include Pension Tax Relief at Source, PAYE on pension payments, withholding taxes, ISA reporting and Stamp Duty Reserve Tax.
• You will support the Chief Tax Officer with tax projects as they arise. Support other members of the tax team with ad hoc queries, projects and transactions as required.
• You will provide tax input into advisory papers as appropriate.
• You will ensure all activities are carried out in line with our Treating Customers Fairly accountability.

QualificationsWho were looking for:

• Qualified Accountant desirable, otherwise with sufficient experience of financial accounting to maintain up-to-date professional knowledge.
• Member or fellow of the Chartered Institute of Taxation desirable, otherwise with sufficient tax experience to maintain up-to-date professional knowledge.
• Statutory and regulatory legislation
• Knowledge of UK Taxes Acts, specifically in relation to corporation tax to the extent that they apply to the companies in the group for which tax responsibility held.
• Experience of specific rules in relation to Insurance Company Taxation desirable but not essential.
• Knowledge of IAS 12 and other tax aspects of UK GAAP and IFRS.
• Develops knowledge of SII reporting requirements of the PRA and those of other regulatory bodies where appropriate.
• Develops understanding of the key concepts which drive regulation within our markets.

Business/Commercial

• Understanding of the general business and financial services environment and regulatory business requirements and its impact on Legal & Generals strategy.
• Develops practical knowledge of each of the Groups businesses and how they interrelate including a knowledge of the operational structures of senior management and their reporting lines.
• Develops and maintains a working knowledge of the Groups policies and procedures including the Groups risk management framework.
• Develops and maintains a commercial awareness of all businesses and products offered within the L&G Group.
• Reporting requirements
• Ability to manage the production of both internal and external financial reporting documentation.

Systems and IT

• Develop knowledge of L&G Groups Consolidation System and UK general ledger.
• Sound working knowledge of Microsoft Office products in particular Excel, Word, Outlook and Powerpoint.
• Detailed application of the departments specific tax software packages.
• Communication
• Communicate technical issues in a clear, simple manner to a wide audience.
• Prepared to listen to others and work to understand their viewpoint.
• Ability to create and deliver clear and concise written or verbal reports.
• Ability to adapt approach to suit audience.
• Analytical ability
• Assimilates complex information, identifies key issues, implications and consequences.
• Ability to review for trends, anticipate problems/omissions and consider potential ways to mitigate them.
• Be able to take big picture approach.
• Prioritisation, planning and organisation of multi task/person assignments.
• Works with and provides guidance and support to other teams.
• Works to build contacts within the organisation.
• Seeks solutions to problems with support.
• Ability to progress idea/solution by undertaking extra tasks proactively.
• Clarifies objectives, aims, timescales and required outcomes.
• Obtains appropriate factual data to assist in decision-making.
• Builds and develops strong relationships with staff, peers and other contacts within the business and externally.

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer: The opportunity to participate in our annual, performance-related bonus plan and valuableshare schemes </