Finance Analyst - Indirect Tax / VAT

What are we looking for in our Finance Analyst - Indirect Tax / VAT?

Finance Analyst - Indirect Tax/VAT

Working for our globally recognised client, this is a pivotal role within their Indirect Tax Team. The purpose of the role is to support in ensuring that the business meets its UK VAT reporting and compliance obligations and operates within a framework of robust controls.

Accountabilities of the role:
Management of the monthly VAT return preparation, review and submission process for two UK VAT Groups. 

This includes:

• Ensuring that a timetable is maintained in which preparation, review and submission of the return is planned/diarised and communicated throughout the month (including any flagging/escalation of issues) as appropriate.
• Extracting data using various reports at the start of the period in preparation for the VAT return calculation.
• Co-ordinating information & reports required from other teams (AP, AR, Retail, payroll, Cash team etc) and responding to and posing questions to verify postings made.
• Monthly GL / Balance Sheet reconciliation activity
• Analyzing data for accuracy including carrying out standard checks on certain transactions (e.g., invoice validation, VAT rate and FX checks).
• Upload and checking of information within the OneSource reporting tool.
• Reviewing and reconciling data of an entity which is not on the same ERP system as the rest of the VAT group.
• Carrying out any required adjustments.
• Completion of monthly and annual adjustments required for Partial Exemption & Input VAT restriction purposes.
• Completion of VAT return review sheet/checklist.
• Conducting VAT return review meeting with Head of Tax for sign off.
• Submission of VAT return.
• VAT Control account and provisions management.

• Process Improvement work including
• A review of the VAT return process generally with a view to reducing both the number of adjustments required and the time taken to complete and ensuring greater compliance overall with MTD
• Remapping of the OneSource tool (to better accommodate new reports and new tax codes that have recently been introduced)
• Documenting changes and process notes/mapping for both the above.
• SAO Risk Register – conducting process reviews with key teams to assess the extent of risks and the resulting impact to the business’s VAT position. Also working with Internal Audit to assess the same.
• Error Correction Notices – Calculation of any errors identified and drafting of disclosures to HMRC.
• Analysis and advisory work required for other commercial projects.
• Provision of advice for routine business queries.

• Experience in a similar VAT compliance role (preferably in-house) for at least 2-3 years.
  Good grasp of basic VAT technical rules for the UK
• Ability to work effectively as part of a team and individually.
• Ability to work to tight timescales and organise workload effectively under own initiative with a positive can-do attitude.
• Strong analytical skills.
• Attention to detail and high level of accuracy.
• Strong communications skills and ability to engage and build relationships.
• Appetite to solve problems and to assist with change whilst maintaining current processes.
• Experience of OneSource tax software in the context of MTD compliance an advantage.
• Proficiency using Excel (high standard), Word, PowerPoint.

• Duration: 6-month contract (Inside IR35)
• Work Days: Monday to Friday
• Hours: 40 hours per week
• Working Schedule: Hybrid (2 days in office and 3 days work from home)