Trust manager

The private client group is seeking to recruit a manager into their trust and tax compliance team.

The group

The private client group provides legal advice on a wide variety of issues to wealthy individuals, trustees and to other institutions and firms for themselves or their private clients. 

The trust and tax compliance team sits within the group and comprises three tax managers and two administrators, with partner support from across the wider private client group. 

The team administer approximately 150 domestic trusts for wealthy families and entrepreneurs, covering the full spectrum of Discretionary, Interest in Possession and a number of charitable trusts. 

The team has expanded in recent years to provide personal tax compliance services to the wider client base of the private client group, most of which has a non-dom flavour. They currently look after the compliance affairs of approximately 100 personal tax clients, mainly in the ultra-high net worth category, and as the group provides legal and wealth/tax planning advice to those clients, there may on occasion be opportunities for the candidate to become involved in other areas of the client’s affairs.

The role

The trust and tax compliance team is looking for a full time, permanent manager to take on a mixed portfolio of trust, personal tax and other more general project work which may include IHT reporting, non-resident CGT, taxation of deceased estates, HMRC enquiry work, statutory residence test and remittance issues and other ad hoc projects.

This is primarily a hands-on compliance based role that will follow the normal tax compliance calendar. However, there will be a significant amount of responsibility as the successful candidate will be working directly for partners in the private client group and there will be substantial client contact and relationship management.

Other than in relation to the preparation of trust accounts, there will be little opportunity for delegation and the successful candidate will need to have the technical capability and client care experience to take responsibility for their own case load without multiple layers of review, but with excellent partner support.

Responsibilities will include:

  • Managing the annual trust accounts completion and tax return compliance cycle using Troika accounting software and CCH tax software
  • Providing written advice to trustees in relation to the financial, tax and trust law position of trusts under management
  • Preparation of IHT returns for 10 year and exit charges
  • Preparing for and attending regular trustees meetings and meetings with investment managers and other professionals
  • Acting as a first point of contact for trustees, beneficiaries and other clients and intermediaries
  • Trust administration: dealing with payments to beneficiaries, liaising with investment managers, investment monitoring and Trustee Act policy statements
  • Preparing simple legal documents such as Trustees Resolutions
  • Registrations under the Trust Registration Service
  • AEOI reporting
  • Personal tax compliance and advice for both UK and non-UK domiciliaries including statutory residence test, remittance issues, Overseas Workday Relief, mixed funds etc.
  • Non-Resident Landlord Scheme reporting
  • Regular ad hoc project work

The candidate

We are looking for either:

  • A candidate with a mainstream accounting background; a qualified accountant (AAT/ACA/ACCA) who has subsequently been working in a trust/tax environment and therefore has experience of trust and personal tax compliance;
  • A candidate who has trained in trust/personal tax and therefore has good basic tax compliance knowledge but who also must have a thorough knowledge and understanding of trust accounting.  Probably ATT, CTA or STEP qualified; or
  • A candidate with solid non-dom personal tax compliance experience, with ideally also some experience of trust compliance.

It may, to an extent, be possible to weight the core client case load to suit the experience of the candidate. However, a willingness to take on a varied workload encompassing all elements of the work undertaken by the team remains a pre requisite.

The ideal candidate will have strong attention to detail and technical ability and be keen to take ownership of the role. The individual will need to demonstrate qualities that will fit within a cohesive, supportive and friendly team. This is a busy team and it is essential that the individual has a hands-on approach and a strong work ethic.

Please note that the job description is not exhaustive and may vary in line with changes in the team’s objectives and firm’s policy.

 

At Macfarlanes we understand the importance of an inclusive culture, the continued development of which has been identified as one of our key priorities. Our focus is to foster an inclusive culture throughout the firm, from entry level to partnership.  It is about recruiting, retaining and promoting all groups in the firm fairly, and we are continually reviewing our processes to ensure that everyone has the same chance to develop and advance.  An inclusive, forward-thinking culture also enables us to provide innovative solutions to our clients.

We welcome applications from people of all backgrounds, bringing different perspectives and experiences, making Macfarlanes an exciting and stimulating place to work. We seek to recruit the best candidates, regardless of gender, race or ethnicity, background, religion, physical abilities, sexual orientation or any other characteristic.

Apply here

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