Tax Manager - Investment Taxes – Group Tax

We support flexible working.

Location(s): Edinburgh, Bristol, Halifax & Leeds

Working Pattern: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites.

Hours: Full-time

About this opportunity

At Lloyds Banking Group we’re driven by a clear purpose: to help Britain prosper. Our colleagues are focused on making a difference to customers, businesses and communities. Finance is key to that success, by securing and building the financial strength and performance of the Bank. But we need talented people like you if we’re to continue to innovate and adapt to the meet the ongoing needs of our customers. Join us and you can make a real difference.

The Operational Taxes Team is part of Group Tax and is responsible for the oversight of the Operational Tax risks of Lloyds Banking Group as a whole. This role involves working as part of a team and would provide informative, high quality, sophisticated output, advice and mentorship tailored to senior partner needs, operating as an Operational Tax specialist. The main focus of the role will be on Investment Taxes for the Insurance & Wealth business.

Your role will be to provide oversight of tax processes, completed by appointed Custodians, including receipt of overseas investment income net of treaty withholding tax rates, tax reporting and tax compliance processes for UK OEICs and investment funds. These processes are undertaken by third party outsourcers, and the oversight work ensures that they are carried out to the required high standards and timescales as detailed in service level agreements, so that the funds’ tax position is fully understood and controlled in an efficient manner. You would also review withholding tax processes for territories and rates not covered by the outsourcing arrangements. This means you’ll work closely with project teams, advisory teams and external advisors on developments affecting the investment portfolio, to grow our service and add value for our customers by improving their return on investment.

You will be joining an experienced Operational Taxes team that advise the Group on all Operational Taxes matters including Pensions tax reporting and all customer tax reporting including Bank & Building Society Interest (BBSI), Other Interest (OI), ISAs, Foreign Account Tax Compliance Act (FATCA), Common Reporting Standard (CRS) etc.

We know that great talent comes from many backgrounds. Whilst this job advert may reference specific years of experience, we recognise that skills are developed in many ways, so if you have relevant, transferable experience, we encourage you to apply. This is a great opportunity to use your knowledge to add value to our investment funds and grow your experience to help you shape an exciting career!

What you’ll be doing:

• Help oversee double taxation treaty work completed by Custodians.
• Complete and supply double taxation treaty documentation, supplementary information to external parties.
• Ensure tax work by external Custodians and Fund Administrators is completed per terms of Service Level Agreements, provide feedback to relevant parties on the service received.
• Collaborate with external advisors to file withholding tax recovery claims, where countries / rates aren’t supported by Custodians, to increase the OEICS return on investments.
• Work with LBG tax colleagues on projects and initiatives including OEIC closures and adopting automated solutions to increase efficiency and enhance risk management.
• Keep abreast of foreign market tax developments and provide input on Audit enquiries.

Why join us?

We’re on an exciting journey to transform our Group and the way we’re shaping finance for good. We’re focusing on the future, investing in our technologies, workplaces, and colleagues to make our Group a great place for everyone.

What we’re looking for:

• Specialist Investments Tax knowledge including overseas tax and withholding tax rules for Open Ended Investment Companies (OEICs) and other collective investments.
• Proven track record of working in the tax function of a large corporate group or professional accounting organisation, preferably in the Financial Services sector.
• Experience of providing oversight of outsourced withholding tax and OEIC tax compliance processes including the appointment of overseas tax agents.
• Experience of attaining global double taxation treaty rates, via relief at source, reclaims and completion of associated tax documentation.
• Understanding of withholding tax accounting policies.
• A tax or accounting qualification is preferable.
• A natural when it comes to relationship management skills, with a proven ability to analyse, challenge and influence.
• As an Advisory role, experience in managing different partner relationships.
• Strong communication skills and ability to work with a range of stakeholders.
• Ability to see the bigger picture and think commercially.

Benefits:

• A generous pension contribution of up to 15%
• An annual performance-related bonus
• Share schemes including free shares
• Benefits you can adapt to your lifestyle, such as discounted shopping
• 30 days’ holiday, with bank holidays on top
• A range of wellbeing initiatives
• Generous parental leave policies

We also offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. And, as a Disability Confident Leader, we guarantee interviews for a fair and proportionate number of applicants who meet the minimum criteria for the role with a disability, long-term health or neurodivergent condition through the Disability Confident Scheme.

We keep your data safe. So, we’ll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We’ll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person.

We’re focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.

With 320 years under our belt, we’re used to change, and today is no different. Join us and help drive this change, shaping the future of finance whilst working at pace to deliver for our customers. Here, you’ll do the best work of your career. Your impact will be amplified by our scale as you learn and develop, gaining skills for the future.

Should you wish to contact us for any reason, please email us at: careers@lloydsbanking.com

For more Flexible Working Options please use the free text search, e.g. job sharing, variable hours, to identify relevant matches.