LIFE TAX MANAGER

The job holder is responsible for ensuring that accurate and timely tax forecasting is produced for the Group’s Life & Pensions businesses. In addition, the job holder is responsible for maintaining consistency with actuarial forecasting tools and providing support to the Solvency II Programme.

Principle accountabilities:

1.   To be responsible for maintenance and development of Lifespan tax forecasting tool. Includes all necessary liaison with Risk, Savings and Group to ensure data input is complete, accurate and timely. Production of regular Lifespan reports for Strategic Planning.

2.   Providing business-specific management information to Risk & Savings Financial Reporting Areas and updating Group-wide MI pack.

3.   The job holder will work closely with actuarial colleagues to ensure the tax estimates within Business Planning and EEV reporting are based on reasonable assumptions.

4.   Providing dedicated support to Solvency II Programme including development and maintenance of tax module within the group’s internal model.

5.   Conducting periodic reviews of tax assumptions used in the businesses and in particular unit linked pricing and asset shares.

6.   The job holder will also support the Head of Life Tax to identify tax optimisation opportunities, consistent with Group Tax policy.

The individual:

• Qualified Accountant (2+ years PQE), or with sufficient experience of financial accounting to maintain up-to-date professional knowledge.
• Member or fellow of the Chartered Institute of Taxation or with sufficient tax experience to maintain up-to-date professional knowledge.
• Detailed knowledge of UK Taxes Acts covering corporation and income tax,
• High level knowledge of UK Taxes Acts covering VAT, IPT, NIC and stamp duty to the extent that they apply to the companies in the group for which tax responsibility held.
• Knowledge of UK GAAP and IFRS reporting for life companies.
• Knowledge of the key reporting requirements of the FSA and other regulatory bodies where appropriate.
• Understanding of the key concepts which drive regulation within our markets.