We have an exciting opportunity for an Indirect Tax Accountant to join F1’s small, friendly, and high-performing tax team based at F1’s HQ in Central London.
F1’s tax team comprises six full-time employees including this role, all based at F1’s London HQ, and is responsible for managing the F1 group’s worldwide tax affairs. The tax team is part of F1’s wider Group Finance team, and works closely with other key parts of the business including the Group Legal team and various commercial and operational teams, in optimising the Group’s worldwide tax position and ensuring that it is compliant with applicable tax laws and regulations in the UK and around the world. This role reports to the Group’s Indirect Tax Manager, but day-to-day supervision will likely be provided both by the Indirect Tax Manager and by the Group’s Senior Tax Accountant.
The management of indirect taxes is an increasingly important part of the Group’s business as it broadens its range of commercial offerings and exploits digital technologies and platforms to deliver products to a growing global fanbase. F1’s tax team currently manages all the Group’s UK indirect tax matters in-house (preparation and filing of UK returns; dealing with HMRC etc.) but also works with external advisers, to whom it provides financial data, in agreed form and to agreed timescales, so that they can prepare and file VAT returns and make VAT payments in other countries on F1’s behalf.
Main Duties and Responsibilities
Managing and maintaining the Group’s VAT compliance calendar to include all key deadlines for the delivery of financial data, preparation and filing of returns and timely instruction of VAT payments.
Maintaining a filing system for VAT records, related communications, and advice.
Working with the Group’s Microsoft Dynamics 365 ERP system (“D365”) to extract financial data and supporting documents (principally invoices) needed to prepare UK and overseas VAT returns, EU Sales Lists, and Intrastat returns.
Reviewing data and invoices and amending/reformatting where necessary
Sending data to external advisors in the required format and in accordance with agreed timescales.
Reviewing overseas VAT returns prepared by external advisors and dealing with related amendments before sending to the Indirect Tax Manager, with a summary and well-presented review comments, for approval.
Preparing VAT returns for the Group’s UK companies, performing review of underlying entries and supporting documents (including checking the validity of sales and purchase invoices), and summarising results to allow efficient review and approval by the Indirect Tax Manager and Director of Tax.
Performing reconciliations between VAT GL accounts and VAT returns.
Ensuring accurate and timely filing of VAT and Sales Tax returns, and ensuring payments are initiated according to internally agreed payment approval processes and timescales.
Assisting with queries from tax authorities.
Working with the Finance team to monitor and improve processes around the recording and coding of VAT invoices, including the preparation of training materials, “cribsheets” etc., and the delivery of training, where necessary.
Supporting the indirect tax team with recording and tracking fee invoices from external tax advisors.
Working with the Indirect Tax Manager, Senior Tax Accountant, and other relevant parties (e.g. F1’s Finance and IT teams, and external consultants) to identify and implement improvements in the extraction, analysis, and presentation of financial data relevant to indirect tax processes (e.g. through changes to existing D365 reports, designing new reports, using data analytics tools, process automation tools, AI etc.).
About You
Demonstrates a thorough knowledge of basic VAT rules (e.g. general rule for place of supply) and compliance processes (e.g. basic contents of a typical VAT return; typical sources of financial information and typical checks/reviews used to ensure accuracy), and ideally some experience of non-UK VAT/sales tax compliance.
Likely part qualified (close to completing professional exams with an appropriate accountancy or tax body) or with equivalent practical experience gained either as part of an in-house tax/finance team or with a professional services firm.
Able to use Microsoft excel at an advanced level (some knowledge of Power Query would be advantageous).
Able to work with large datasets and has excellent data analysis skills, in particular the ability to spot trends and anomalies, using knowledge of business patterns etc.
Shows a willingness to ask questions and an eagerness to learn and to seek a better understanding to deliver a better service and solutions.
Good understanding of ERP systems, use of tax codes and tax-determination rules (previous exposure to D365 specifically would be useful but is not essential).
Personable and professionally presented in both manner and appearance.
Communicates clearly verbally and in writing.
Adapts communication style according to audience – able to summarise and explain complex issues to non-experts when speaking and in writing, and to deal respectfully and professionally with staff at all levels of an organisation.
Works in an organised manner, following set processes and timescales where required.
Able to manage multiple tasks and deadlines, prioritising work appropriately.
Solidly reliable and takes pride in delivering a high-quality work product that is well-organised, well-presented, self-reviewed and free from obvious error, and delivered on time. Shows equal commitment to mundane and more interesting/complex tasks.
Shows appropriate use of initiative – tries hard to find solutions but demonstrates sound judgement in deciding when more senior/experienced colleagues need to be involved.
Demonstrates a thorough working knowledge of basic double-entry bookkeeping.
For more detail, salary and company information, use the apply link
