Tax & Law - Global Compliance & Reporting - US Tax Manager - Private Equity Funds

Ernst & Young Advisory Services Sdn Bhd; London; On-site; GBP 60,000 - 80,000; Full time

Job description

Location: London

Other locations: Primary Location Only

Date: 14 Aug 2024

Requisition ID: 1521024

EY’s Financial Services (FS) Tax practice provides tax advisory, transactions, and compliance services to a variety of clients in the Financial Services market ranging from some of the world's largest multinational institutions, corporations, and funds.

The US tax compliance team, which sits within the EMEIA Wealth & Asset Management practice, continues to experience growth due to strong client demand from European asset managers with US investors and/or US activity.

The opportunity

Our London-based team of US-qualified tax professionals is a growing practice of 50+ individuals focused on providing exceptional client service to the asset management industry including hedge funds, debt funds, private equity funds, and real estate funds and their management companies.

The team is highly dynamic and is looking for motivated, energetic, and collaborative individuals to join the US team in London. The team is looking for managers and senior managers, specifically with private equity fund experience, to help grow the team this year.

Your key responsibilities

The role will primarily involve overseeing private equity fund US tax compliance engagements for clients with appropriate consideration of risk, operational, and tax technical issues. Researching US tax legislation and explaining the impact to asset management clients will be required as part of contributing to tax consulting projects. You will be working in a dynamic environment and you will be expected to coach junior staff members (both onshore and offshore) and share your knowledge and experience with the entire team. You will also be expected to coordinate multiple engagement teams’ schedules and deadlines.

Skills and attributes for success

• Positive attitude and willingness to be a team player.
• Excellent time and project management skills.
• Proficiency in partnership allocations and an understanding of private equity carry waterfalls.
• A practical understanding of international tax concepts such as PFICs, CFCs, and foreign information reporting (Form 926, Form 8865, Form 8621, Form 5471, etc.)
• An understanding of debt vs. equity analysis, UBTI, and other analysis required to compute a private equity fund’s taxable income.
• Experience advising clients on the US tax impact of investment and fund structures, as well as US tax elections.
• Proficiency in juggling multiple priorities while managing internal and external stakeholders.
• Willingness and ability to learn new concepts with minimal guidance.
• Enthusiasm for coaching and developing team members.

To qualify for the role, you must have

• Current CPA, EA or equivalent qualification or Degree / Master’s degree in accounting or taxation (or equivalent).
• Extensive experience in preparing and reviewing partnership tax returns and Schedules K-1.
• Extensive experience with computing taxable income and partnership allocations for private equity funds.
• Knowledge of international tax returns and related US tax laws.
• In-depth knowledge of Go Systems tax preparation software or similar system.

Ideally, you’ll also have

• Ability to manage large scale fund compliance projects involving 5,000+ hours, multiple funds/deliverables, and cross-border teams of 10+ individuals.
• Ability to liaise directly with non-tax stakeholders at your clients to explain US tax concepts at a practical level.
• Background in financial services, ideally working with private equity funds in a US tax capacity.
• Experience in delivering technical and soft skills training to junior team members.

What we look for

We’re interested to hear from highly motivated individuals who are open to expanding their network and pursuing a medium to long-term career in US tax in London. We are looking for someone who will fit in well with our energetic and high-performing team, who has background in private equity funds and who has excellent client relationship skills.

What working at EY offers

We offer a competitive remuneration package where you’ll be rewarded for your individual and team performance. Our comprehensive Total Rewards package includes support for flexible working and career development, and with FlexEY you can select benefits that suit your needs, covering holidays, health and well-being, insurance, savings and a wide range of discounts, offers and promotions.

• Support, coaching, and feedback from some of the most engaging colleagues around.
• Opportunities to develop new skills and progress your career.
• The freedom and flexibility to handle your role in a way that’s right for you.

EY is committed to being an inclusive employer and we are happy to consider flexible working arrangements. We strive to achieve the right balance for our people, enabling us to deliver excellent client service whilst allowing you to build your career without sacrificing your personal priorities. While our client-facing professionals can be required to travel regularly, and at times be based at client sites, our flexible working arrangements can help you to achieve a lifestyle balance.

About EY

As a global leader in assurance, tax, transaction, and advisory services, we’re using the finance products, expertise, and systems we’ve developed to build a better working world. That starts with a culture that believes in giving you the training, opportunities, and creative freedom to make things better. Whenever you join, however long you stay, the exceptional EY experience lasts a lifetime.

If you can confidently demonstrate that you meet the criteria above, please contact us as soon as possible. Join us in building a better working world. Apply now.