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.
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, alternative credit 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 a manager and/or a senior manager, specifically with alternative credit fund experience, to help grow the team this year.
Your key responsibilities
The role will primarily involve overseeing alternative credit 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 clients will be
required as part of contributing to tax advisory projects. You will be working in a dynamic
environment and you will be expected to coach junior staff members (located in the UK and abroad)
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.
Enthusiasm for coaching and developing team members.
Strong tax technical skills and ability to learn new concepts with minimal guidance.
Ability to articulate complex tax matters to clients in a commercial manner.
- Current CPA, EA or equivalent qualification or Degree / Master’s degree in accounting or taxation (or equivalent).
Experience advising clients on the US tax implications of various investment strategies, fund structures and relevant US tax elections (e.g., check-the-box, amortization of bond premium).
Proficiency in quantitative and qualitative US tax analyses relevant to alternative credit funds, including but not limited to market discount schedules, original issue discount (OID) schedules, bond premium calculations, straddles, debt/equity analysis, etc.
Practical understanding of partnership allocations, including both private equity and hedge fund type structures.
Extensive experience in reviewing partnership tax returns (Form 1065) and Schedules K-1.
Experience in reviewing PFIC reporting, including computation of ordinary earnings and net capital gain and shareholder income allocations.
In-depth knowledge of Go Systems tax preparation software or similar system.
- Experience managing cross-border teams of 2-6 people.
- Experience in delivering technical and soft skills training to junior team members.
- Knowledge of US inbound and outbound international tax rules.
- Knowledge of a non-US tax system would be helpful, but is not required
- Ability to learn the US GAAP and IFRS rules related to income recognition for debt instruments
- 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