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Objective of Role: Working in close collaboration with the European Tax Director and LaSalle’s Global Head of Tax, European Fund Managers and Transaction Officers, the European General Counsel and LaSalle's Finance Controllers, the role assumes responsibility for tax matters related to our European business and fund structures including offshore vehicles in Luxembourg or Jersey. This role is responsible for tax matters at all stages of the real estate investment lifecycle including fund structuring, asset enforcement, transaction support, refinancing, overall portfolio maintenance, pan-European compliance (including VAT, CIS, DAC 6 etc.) and, subsequently, liquidation of Fund structures post divestment.
Although London based role, it is important for LaSalle to have consistency and alignment across the entire European platform and, with the European Tax Director, will also monitor all tax and regulatory changes impacting LaSalle sponsored funds and separate account arrangements (e.g., BEPS/ ATAD2, Pillar 2, AIFMD). Communication of such changes in the tax environment and analysis of the impact for LaSalle and its clients is a particular focus. The successful candidate will educate and communicate best practices to the wider business, often face to face. They will be a source of advice for Financial Controllers in how tax legislation impacts them in practice. Such education will be done in conjunction with external tax advisors.
The objective is to offer a ‘best-in-class service to the business and to our clients whilst developing tax knowledge and the right processes and controls to manage tax risk across our European platform.
Reporting Relationships: This role will report directly to the European Tax Director with a close ‘indirect’ reporting relationship with the Global Head of Tax based in Chicago and European CFO.
Location: London but with European travel which will be required on a frequent basis (i.e., Paris, Luxembourg, Munich).
Role and Accountabilities:
Fund and Investment structuring:
- Actively support Controllers and Fund teams by providing guidance (and via tax advisors) on appropriate structures and tax consequences relating to pan-European investments across various asset classes (. e.g., industrial, residential, commercial, mixed-use, …) – both direct real estate and debt investments. Structuring requires close collaboration with LaSalle pan-European colleagues, legal and compliance teams across Europe.
- Support and educate Fund and Finance teams on the tax maintenance of structures and the applicability of new tax structures as they develop in the market.
Transaction support:
- Provide active tax support for pan-European transactions including review of tax underwriting assumptions and managing tax aspects of transaction processes including review of Investment Committee submissions for investment opportunities.
- Present tax issues on these transactions to the Investment Committee with recommendations.
- Support transactions teams, and, with the European Tax Director, provide input and guidance on tax risks, implementation of third-party structuring advice and recommend negotiating strategies to key stakeholders e.g., tax reps and warranties or purchase of tax insurance.
- The role would include management of the EU MDR process and the internal software system.
Management of Investment Structures:
- Support Controllers across the European platform with the periodic review of substance and corporate governance policies as well as advising complex tax audits.
- Recommend internal financing flows in investment structures.
- Lead on VAT and transfer pricing policies / procedures e.g., internal loans and charging management fees.
- In conjunction with the European Tax Director, communicate changes in tax rules and the external environment to others with practical guidance on changes in approach or underwriting. Organise and lead local training.
- Provide management and support to fund controllers in relation to the tax compliance including DAC 6 process.
- Assist the European Tax Director in assessing the impact of new tax and regulatory legislation on investment structures & make recommendations to key stakeholders as appropriate.
- Manage local advisory relationships – especially on transactions – and managing timelines associated thereto.
- Educate internal teams on tax sensitivities and issues and develop processes to manage tax risks.
LaSalle Business Operations:
- Manage tax issues, in particular VAT arrangements. Assist local teams on contract reviews and consideration of cross-border arrangements and transfer pricing.
- Identify changes, new tax requirements and assist / manage implementation by LaSalle entities.
- Lead manager / coordinator on all tax matters related to liquidation of legacy funds and be the 'go-to' and centre of knowledge in liquidation.
- Provide guidance and support on corporate and tax operational matters.
Other:
- Actively working with LaSalle’s Finance Directors and European CFO, European Legal Counsel, European Head of Compliance, Fund Managers, Asset Managers, and other stakeholders in supporting the business and being an excellent advocate for the wider European Tax team’s contribution to the business.
- Development and adoption of best practices (importing & exporting pan-Europe / global best practice) within LaSalle, implementing appropriate policies & procedures and adopting digitalisation and or tax applications where applicable.
Required Qualifications & Experience:
- Qualified Accountant or Lawyer with a minimum of five years post qualification industry experience.
- Experience with real estate funds and investment structures – with knowledge of regulated structures a plus.
- Strong UK tax technical experience is a plus.
- Experience of real estate taxation – Accounting knowledge and ability to analyse financial statements preferred.
- VAT expertise and ability to be 'centre of knowledge' for all European VAT issues.
- An ability to quickly identify key tax issues and communicate effectively and clearly with non-specialists.
- Commercial, tested business acumen with ability to multi-task and prioritise multiple projects.
- Pro-active team player able to collaborate with many different teams, personalities, and styles, with excellent communication, organisation and project management skills, a strong work ethic and a positive ‘can-do’ attitude.
- Someone who can deliver sound, practical, well-thought-out recommendations and interact confidently with senior management.
- Experience of working with cross border teams and cultures is an advantage.
- Excellent verbal and written communication skills.
LaSalle is an Equal Opportunity Employer /and encourages applications from all sections of the community.
