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For Companies At a Glance
- Tasks: Manage and oversee trust and estate administration, preparing accounts and tax returns.
- Company: Join a leading mid-sized law firm in Central London, serving diverse clients.
- Benefits: Enjoy flexible hybrid working and part-time hours, perfect for balancing studies.
- Why this job: Be part of a dynamic team, gaining valuable experience in private client services.
- Qualifications: Understanding of trust accounts and taxation; experience with relevant software is a plus.
- Other info: Unique opportunity to work with high-net-worth individuals in a supportive environment.
The predicted salary is between 48000 - 72000 £ per year.
Title – Trust Manager
Hours – Part Time, 3 days a week
Background to the Firm
Ortus Group is working with a leading mid-sized law firm based in Central London. The business provides comprehensive legal service to a wide range of businesses and private individuals. The client base includes multinationals, public and private companies, partnerships, public sector organisations and private clients.
Tax & Estate Planning
The Tax & Estate Planning Team is part of the wider Private Client Services Department which includes Family and Private Client Property Teams.
The team acts for a wide range of high and ultra-high net worth individuals and families. The client base has historically been predominately from the UK, with perhaps 40% representing international work. Increasingly our work derives from international sources, including the firms only international office. The work ranges from trust and probate administration, to advising on inheritance, capital gains and income tax mitigation, preparing wills, creating trusts, drafting and dealing with lasting powers of attorney and the affairs of incapacitated, charity administration and advice, and the full range of Private Client services. Much of the work has a large tax component, both domestic and international.
Purpose of Role
Working closely with the partners and the rest of the Tax & Estate Planning team, the role would involve managing and overseeing the administration of trusts and estates.
Responsibilities
- Preparing annual trust accounts, trust tax returns and R185s, and meeting all filing deadlines
- Liaising with HMRC, trustees, beneficiaries, investment managers and any other parties
- Calculating trustees’ liabilities to IHT, CGT and Income Tax and making use of annual exemptions
- Preparing HMRC forms for 10 year anniversary changes, exit charges, and winding up trusts
- Preparing personal tax returns
- Preparing accounts for charities, arranging for these to be independently examined/audited, Charity Commission annual returns and Gift Aid Claims.
- Completing Deputy Reports for Court of Protection clients and arranging for the costs to be assessed by the Court of Protection Cost Office
- Preparing for, attending trustees’ meetings, and taking minutes of those meetings
- Dealing with payments and distributions from trusts, both capital and discretionary income distributions
- Annual review of investment policy
- Assisting the probate team with the Estate accounts and tax returns (to date of death and for administration period)
- Maintaining the Trust Registration Service and FATCA updates
- Registering trusts and estates for the probate team on the HMRC Trust Registration Service
Person specification
- Able to demonstrate a good understanding of trust accounts
- Possess a good understanding of the taxation of trusts, to include calculation of trustees’ liabilities to IHT, CGT and Income Tax, and their interaction with personal taxes
- Have experience working with computerised accounts and trust and tax software including the HMRC TRS system
- Knowledge of Wolters Kluwer software for CCH Trust accounts, accounts formatting and CCH Central would be advantageous
May hold a tax qualification across ACCA, ATT or CTA
Able to form good working relationships with clients, colleagues and other professional at all levels of seniority.
- A people-person, with emotional intelligence who is assured, professional and confident in ability
- Able to demonstrate the qualities of an enthusiastic team player
General
- Provide a high level of client service
- Carry out work expeditiously and to a high professional and commercial standard
- Capable of producing competent advice promptly and within budget
- Ensure that all time spent on any matter is recorded and that recorded time is monitored regularly and billed promptly
- Able and willing to become involved and assist in all matters, including administration
- Contribute to knowledge management and the pursuit of excellence and efficiency
- Consolidate the relationship with clients and actively seek to market the services of the department and the wider firm to clients and potential clients
This is a very unique to join one of London\’s leading private wealth practices in London as a Trust Manager. This is a part time role which also comes with a hybrid working pattern so the individual would benefit from flexible working.
Please get in touch to find out more.
Trust Manager employer: Ortus Group
Contact Detail:
Ortus Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Trust Manager
✨Tip Number 1
Familiarize yourself with the specific tax laws and regulations related to trusts in the UK. Understanding the nuances of IHT, CGT, and Income Tax will not only help you in interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Network with professionals in the private client services sector. Attend relevant events or join online forums where you can connect with current Trust Managers or those in similar roles to gain insights and advice.
✨Tip Number 3
Highlight your experience with trust and tax software during conversations. If you have worked with Wolters Kluwer or HMRC TRS systems, be sure to mention this expertise as it aligns closely with the requirements of the position.
✨Tip Number 4
Prepare to discuss your approach to client relationships. As a Trust Manager, being a people-person is crucial, so think of examples that showcase your emotional intelligence and ability to build rapport with clients and colleagues.
We think you need these skills to ace Trust Manager
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description for the Trust Manager position. Understand the responsibilities and requirements, especially regarding trust accounts and taxation.
Tailor Your CV: Customize your CV to highlight relevant experience in trust management, tax returns, and client relationships. Emphasize any qualifications like ACCA, ATT, or CTA that align with the job requirements.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the role and your enthusiasm for working with high net worth individuals. Mention specific experiences that demonstrate your ability to manage trusts and estates effectively.
Highlight Soft Skills: In your application, emphasize your interpersonal skills and emotional intelligence. The role requires forming good working relationships, so provide examples of how you've successfully collaborated with clients and colleagues in the past.
How to prepare for a job interview at Ortus Group
✨Understand Trust Accounts
Make sure you have a solid grasp of trust accounts and the taxation involved. Be prepared to discuss your experience with calculating trustees’ liabilities to IHT, CGT, and Income Tax, as this will be crucial for the role.
✨Show Your People Skills
As a Trust Manager, forming good working relationships is key. Be ready to share examples of how you've successfully collaborated with clients and colleagues in the past, showcasing your emotional intelligence and professionalism.
✨Familiarize Yourself with Relevant Software
Brush up on your knowledge of trust and tax software, especially the HMRC TRS system and Wolters Kluwer software. If you have experience with CCH Trust accounts, mention it during the interview to highlight your technical skills.
✨Demonstrate Your Client Service Approach
Prepare to discuss how you ensure high levels of client service and how you manage your time effectively. Share specific examples of how you've delivered competent advice promptly and within budget in previous roles.
