Trust and Tax Assistant
The role of Trust and Tax Assistant is an important support role in trust administration, investment reporting, accounting and sometimes complex tax compliance, where the successful candidate will work closely with the Trust and Tax Managers in a busy Private Client Service, dealing with domestic trusts and high-net worth individuals from the UK and abroad. We deal with a wide range of trust work as well as many private clients’ financial affairs, succession planning and tax advice. The role will suit someone who has good knowledge and experience of accounts preparation, excellent numerical and written communication skills, with some UK tax compliance experience, who is looking to develop their career within a friendly collegiate team that is widely recognised for its expertise in this area.
Roles and Responsibilities (this is a broad but not exhaustive list)
- You will be responsible for the preparation of trust accounts for review by the trust manager, which will involve inputting / capturing financial data on computer systems used by the team from bank statements, investment managers’ statements and year-end tax packs and the firm’s client account, etc, as required, depending on the size of the case and volume of transactions, to produce annual financial statements.
- After training as necessary, you will be fully conversant with our specialist trust and probate computer software packages. We currently use Troika for trust administration and accounting and Digita for Self‑Assessment tax reporting, as well as other tax software for specialist reporting (e.g., Inheritance Tax Returns).
- We also use Excel extensively for other financial reporting, management of large data, so a good knowledge of controls, checks and data management in Excel is essential.
- You will deal with the compliance work in respect of trusts to include the production of trust accounts and tax returns; both Self-Assessment and Inheritance Tax; maintaining the FPTCA database as required.
- You will be expected to be flexible in your approach and willing to undertake a wide range of practical tasks.
- Over time, you will liaise directly with internal and external trustees, trust beneficiaries, and take part in client meetings, enjoying regular contact with investment managers and other professional advisers such as banks, insurance providers, valuers and external tax advisers. You will also be expected to communicate legal advice from the firm and from external advisers to settlors and beneficiaries in a succinct, practical and persuasive manner.
- Handling all aspects of trust administration.
- You will need to have a full understanding of each trust case to determine the accounting treatment of transactions and major events on each trust matter. A sound understanding of the workings of discretionary and life interest trusts is preferred; further training on more complex structures will be provided.
- You will also support the Trust and Tax Managers monitoring and planning for major events on trust and family matters.
- You will also be responsible for preparing tax returns for trusts and individuals, ensuring these are produced accurately and submitted on time.
- You will be expected to be flexible in your approach and willing to undertake a wide range of other fiduciary, financial and tax-related assignments on your allocation.
- You will also be expected to be able to research more complex UK tax compliance and new legislation to support other members of the Tax Trusts and Succession division.
- Comply with all relevant legal and regulatory obligations including the Solicitors Regulation Authority (SRA) Standards and Regulations, and Principles.
Qualifications and Experience
- Some knowledge and experience of accounts preparation is essential
- Some knowledge and experience of Self-Assessment workings and deadlines for trusts and individuals is desirable but not essential.
- Computer literate with some knowledge of management reporting from databases
- Intermediate knowledge of Excel
- Be a quick learner
- Good organisational skills
- High degree of accuracy/attention to detail
- Strong numerical skills and written communication skills
- Have an excellent telephone manner
- Team oriented individual who can also work independently
- Effective, sound decision making and practical problem-solving skills
For a detailed specification please download the job description in the documents section of this page.
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When we require external assistance with our vacancies, we will reach out to our PSL supply chain. Please be aware we operate a very strict PSL policy with close relationships with our suppliers and cannot respond to agencies outside of the PSL. We also do not accept speculative CVs as an introduction. Please do not contact individual hiring managers or the Talent Acquisition team.