Assistant Financial & Tax Accountant
Responsible for producing the company's quarterly VAT returns and Construction Industry Tax (CIT) return and dealing with VAT and CIT related matters. Assist the Financial and Tax Accountant (F&TA) in producing Group's corporation tax computations and subsidiary accounts.
In addition, occasionally situations may arise that require the post holder to perform other duties or tasks as may reasonably be requested by the senior management.
- Prepare the quarterly VAT return for the group registration and Transport company. Ensure VAT is calculated with the agreed Retail Schemes and rules governing the trading areas.
- Prepare the partial exemption and annual adjustments including multi-buys.
- On a monthly basis review the automatic retail VAT provision and in liaison with the F&TA ensure that there is adequate provision.
- Ensure that the VAT status of the products in the product file is correct. Review new products and amendments on a monthly basis.
- Chase and match C79s.
- Maintain Capital Goods Scheme register and ensure all additions and disposals are correctly recorded.
- On occasions provide information to the companies professional advisors
- Assist with HMRC audits and inspections.
- Assist in the preparation of the draft group company tax return computations in Alphatax. Identify the tax status and subsequent tax treatment for the tax computations of repairs, renewals, legal & professional fees and asset additions and disposals. Collect and collate capital allowance information for inclusion in the annual tax computations.
- Prepare the Capital Gains Tax calculations at the time of disposal, including obtaining pre-return valuation checks (CG34) from the HMRC.
- Maintain the rolled over capital gains register as agreed with the HMRC.
- Assist F&TA with HMRC corporation tax return enquiries.
- Assist in the deconsolidation of the group accounts into the subsidiary accounts profit and loss account and balance sheet. Draft the statutory subsidiary accounts.
Construction Industry and PAYE Settlement Agreement Tax
- Ensure fortnightly Construction Industry Tax (CIT) payment runs comply with the rules of the scheme. Prepare, submit and pay the CIT deductions to the HMRC to the agreed timescale. Ensure that all suppliers that fall within the CIT scheme are included in the payment runs and returns. Review all suppliers on a regular basis and re-verify them with HMRC.
- Collect information for the PAYE Settlement Agreement (PSA) during the year and prepare the annual PSA for submission to HMRC.
- Set up CHAPS, BACS and international payments when requested.
- Ad hoc tasks and projects.
- Take reasonable care for the health and safety of themselves and of others who may be affected by their acts or omissions at work.
Dimension of the Role
- Budgetary Control: £nil
- Key internal contacts are the Finance team and the trading groups for VAT queries.
- Key external contacts are the Companies Banks.
A team player.
Build relationships with colleagues across all departments.
Demonstrate the company values.
Ability to communicate effectively - both verbally and in writing.
Works hard at positive relationships within the team.
Proven track record for attendance and time keeping.
Committed to providing accurate and timely information to a high standard.
Drive to resolve queries and improve processes.
Organisational skills to achieve agreed deadlines and SLAs.
Positive approach to change.
Commitment to health and safety.
Make recommendations for improvements.
Awareness of financial and compliance issues and take action or implement change to minimise risk to Society.
Vat and tax knowledge desirable.
Financial Accounting knowledge is desirable.
Professional accountancy qualification, studying towards AAT, or the early stages of CIMA, ACCA or ACA.
Excellent IT skills, adaptable to learning new systems and interrogating information held in systems for robustness.
18 months experience in a Finance environment is desirable.
Experience in a similar role would be desirable.
Intermediate level Excel.