Trust and Tax Manager

Location
Ponteland, Newcastle Upon Tyne
Salary
£25,000-£30,000 depending on experience and pro-rata
Posted
28 Jul 2021
Closes
25 Aug 2021
Ref
226121368
Contract Type
Permanent

Trust and Tax Manager

Location: Ponteland

Salary: £25,000-£30,000 depending on experience and pro-rata

Full or Part time available

An opportunity in a long established firm of Solicitors in Ponteland to work with Private Client Lawyers in respect of tax work in the administration of estates and personal tax of Clients.

The applicant will be expected to have accountancy experience.

The successful applicant would be required to work in a number of areas including the collection of information from Clients and the preparation of tax returns for Personal Clients and Trusts and in the administration of the Trusts.

The applicant can also be involved in tax planning for Clients working alongside the Lawyers in the practice.

As the firm provides a personal service with a high level of expertise the applicant will be expected to relate well to people in a professional and confident manner and enjoy working in a team.

Role of Tax Manager

Trust Administration

  • Preparing Annual Tax Returns.
  • Updating the annual Trust Register with HMRC, if necessary.
  • Paying the tax due on time and arranging to get funds released from the trust fund to pay the tax and any fees, if necessary.
  • Preparing IHT100’s in respect of chargeable events such as ten year charges and exit charges.
  • Maintaining a trust diary to note events such as the ten year charges.
  • Preparing legal documents associated with the management of the Trust, such as Deeds of Appointment and/or Termination, and other documentation with assistance.

Self-Assessment Tax Returns

  • Requesting Tax Return information at the start of each tax year.
  • Completing online returns by 31 st January following the tax year.
  • Sending clients their tax returns for their review and approval.
  • Advising how much tax to pay and the deadline as to when they pay.
  • Billing clients once the tax return has been completed.
  • Sending reminder letters to those that have not provided their tax return information later in the tax year.

Tax Reviews

  • Requesting information in order to carry out a review of the tax position for each client.
  • Advising clients of their tax position for the tax year.
  • Sending reminder letters to those that have not provided their tax return information later in the tax year.

Estates

  • Reviewing the tax position for the deceased from the start of the tax year until the date of death.
  • Reviewing the tax position for the estate in the period of administration.
  • Registering the Estate if it meets the criteria of being “complex” and thereafter completing an Estate tax return annually until the Estate has been finalised.
  • Writing to HMRC if the Estate is due to pay tax of £100 or more and the Estate is not complex.