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Tax Assistant
| Posting date: | 11 November 2024 |
|---|---|
| Salary: | £38,500 to £39,500 per year |
| Hours: | Full time |
| Closing date: | 11 December 2024 |
| Location: | Little Ilford, East London |
| Remote working: | On-site only |
| Company: | VASAVE FINANCIAL SERVICES LTD |
| Job type: | Contract |
| Job reference: |
Summary
Key Responsibilities:
Preparation of Tax Returns and Related Documentation:
One of the primary duties of the Tax Assistant is preparing various tax-related documents, including federal, state, and local tax returns for individuals, corporations, and partnerships. This includes calculating income, deductions, and other tax-related items while ensuring accuracy and completeness. The Tax Assistant will gather and organize necessary financial information from clients, maintain thorough records, and ensure compliance with all filing requirements. By reviewing financial documents and preparing reports, the Tax Assistant helps clients to stay informed about their tax status, contributing to accurate and timely submissions.
Assistance in Tax Planning and Advisory Services:
The Tax Assistant will work under the guidance of senior tax staff to help develop effective tax planning strategies for clients. This includes identifying potential tax credits, deductions, and other opportunities that may reduce tax liabilities. Working collaboratively with other team members, the Tax Assistant will support research into applicable tax laws and regulations, helping to craft solutions that align with the unique financial goals of each client. By analyzing past tax returns and financial data, the Tax Assistant will contribute to proactive tax planning efforts and long-term tax efficiency.
Research and Analysis of Tax Regulations:
Tax laws and regulations are continually evolving, and staying informed of these changes is essential to effective tax preparation and planning. The Tax Assistant will conduct research on current tax codes, legislation changes, and case law as it pertains to individual and corporate taxes. This research will allow the Tax Assistant to keep team members and clients up to date on compliance requirements and opportunities for tax optimization. In addition, the Tax Assistant will support the team by analyzing how changes in tax law may impact client tax liabilities and reporting these findings to senior management.
Maintaining Client Records and Filing Systems:
Maintaining organized and accurate records is crucial for a tax practice. The Tax Assistant will be responsible for organizing and updating digital and physical files for each client, ensuring all financial information is recorded securely and accurately. This includes gathering, verifying, and filing documents such as income statements, tax payments, receipts, and expense documentation. With strict adherence to data privacy regulations, the Tax Assistant will ensure client confidentiality and be vigilant in protecting sensitive information, thus fostering a trustworthy environment for clients.
Supporting Senior Tax Staff and Managing Administrative Duties:
The Tax Assistant provides direct support to Tax Managers and Senior Tax Consultants, helping to manage administrative duties and streamline workflow. This includes scheduling client meetings, organizing documents, and handling routine administrative tasks as needed. By providing seamless administrative support, the Tax Assistant enables senior staff to focus on more complex tax planning and advisory services, ultimately enhancing productivity and client satisfaction.
Continuous Learning and Professional Development:
Tax is a dynamic field with frequent changes in regulations and best practices. The Tax Assistant will be encouraged to pursue ongoing professional development, which may include attending tax workshops, completing relevant certifications, and staying informed of legislative updates. Commitment to professional growth not only enhances the Tax Assistant’s skill set but also contributes to the firm’s goal of delivering high-quality, up-to-date services.
Qualifications and Skills:
Education: A bachelor’s degree in accounting, finance, business administration, or a related field is typically required. Relevant coursework in taxation, auditing, and financial reporting is preferred.
Certification: Working towards or holding certifications such as ACCA, ATT, or CTA is beneficial but not essential. The willingness to pursue tax or accounting certifications will be an advantage.
Technical Skills: Proficiency in tax software (e.g., TurboTax, UltraTax, or similar) and general accounting software (e.g., QuickBooks, Xero) is required. Strong skills in MS Office, particularly Excel, are essential for managing data and performing calculations.
Attention to Detail: A keen eye for accuracy is crucial, as the Tax Assistant will be handling financial data and ensuring that all tax documents are completed without error.
Communication Skills: Excellent written and verbal communication skills are necessary for client interaction and collaboration with the tax team.
Analytical Skills: The ability to analyze financial data, interpret tax laws, and recommend tax strategies is important for this role. Critical thinking and problem-solving skills will aid in supporting complex client needs.
Time Management: Strong organizational and time-management abilities are essential to manage multiple clients and meet strict deadlines.
Preparation of Tax Returns and Related Documentation:
One of the primary duties of the Tax Assistant is preparing various tax-related documents, including federal, state, and local tax returns for individuals, corporations, and partnerships. This includes calculating income, deductions, and other tax-related items while ensuring accuracy and completeness. The Tax Assistant will gather and organize necessary financial information from clients, maintain thorough records, and ensure compliance with all filing requirements. By reviewing financial documents and preparing reports, the Tax Assistant helps clients to stay informed about their tax status, contributing to accurate and timely submissions.
Assistance in Tax Planning and Advisory Services:
The Tax Assistant will work under the guidance of senior tax staff to help develop effective tax planning strategies for clients. This includes identifying potential tax credits, deductions, and other opportunities that may reduce tax liabilities. Working collaboratively with other team members, the Tax Assistant will support research into applicable tax laws and regulations, helping to craft solutions that align with the unique financial goals of each client. By analyzing past tax returns and financial data, the Tax Assistant will contribute to proactive tax planning efforts and long-term tax efficiency.
Research and Analysis of Tax Regulations:
Tax laws and regulations are continually evolving, and staying informed of these changes is essential to effective tax preparation and planning. The Tax Assistant will conduct research on current tax codes, legislation changes, and case law as it pertains to individual and corporate taxes. This research will allow the Tax Assistant to keep team members and clients up to date on compliance requirements and opportunities for tax optimization. In addition, the Tax Assistant will support the team by analyzing how changes in tax law may impact client tax liabilities and reporting these findings to senior management.
Maintaining Client Records and Filing Systems:
Maintaining organized and accurate records is crucial for a tax practice. The Tax Assistant will be responsible for organizing and updating digital and physical files for each client, ensuring all financial information is recorded securely and accurately. This includes gathering, verifying, and filing documents such as income statements, tax payments, receipts, and expense documentation. With strict adherence to data privacy regulations, the Tax Assistant will ensure client confidentiality and be vigilant in protecting sensitive information, thus fostering a trustworthy environment for clients.
Supporting Senior Tax Staff and Managing Administrative Duties:
The Tax Assistant provides direct support to Tax Managers and Senior Tax Consultants, helping to manage administrative duties and streamline workflow. This includes scheduling client meetings, organizing documents, and handling routine administrative tasks as needed. By providing seamless administrative support, the Tax Assistant enables senior staff to focus on more complex tax planning and advisory services, ultimately enhancing productivity and client satisfaction.
Continuous Learning and Professional Development:
Tax is a dynamic field with frequent changes in regulations and best practices. The Tax Assistant will be encouraged to pursue ongoing professional development, which may include attending tax workshops, completing relevant certifications, and staying informed of legislative updates. Commitment to professional growth not only enhances the Tax Assistant’s skill set but also contributes to the firm’s goal of delivering high-quality, up-to-date services.
Qualifications and Skills:
Education: A bachelor’s degree in accounting, finance, business administration, or a related field is typically required. Relevant coursework in taxation, auditing, and financial reporting is preferred.
Certification: Working towards or holding certifications such as ACCA, ATT, or CTA is beneficial but not essential. The willingness to pursue tax or accounting certifications will be an advantage.
Technical Skills: Proficiency in tax software (e.g., TurboTax, UltraTax, or similar) and general accounting software (e.g., QuickBooks, Xero) is required. Strong skills in MS Office, particularly Excel, are essential for managing data and performing calculations.
Attention to Detail: A keen eye for accuracy is crucial, as the Tax Assistant will be handling financial data and ensuring that all tax documents are completed without error.
Communication Skills: Excellent written and verbal communication skills are necessary for client interaction and collaboration with the tax team.
Analytical Skills: The ability to analyze financial data, interpret tax laws, and recommend tax strategies is important for this role. Critical thinking and problem-solving skills will aid in supporting complex client needs.
Time Management: Strong organizational and time-management abilities are essential to manage multiple clients and meet strict deadlines.