As Deputy Director, Financial Products & Services, you will lead a team of around 30 people and will be responsible for the tax regimes for banks, insurers, asset managers, a wide variety of investment vehicles, and recognised stock exchanges. Your remit also includes the tax rules applicable to financial transactions, such as loans and derivatives, and innovative areas such as cryptoassets.
The team works to improve the tax system, securing tax revenue, while encouraging investment into the UK economy, incentivising growth and identifying ways to increase simplicity and reduce costs for HMRC and our customers. In particular, we work closely with policy partners in HM Treasury, the financial regulators and industry stakeholders on new policy and legislation to improve the tax system and ensure it keeps pace with external developments in the financial and fintech sectors.
The team works closely with colleagues across HMRC’s Customer Compliance Group to prevent and address non-compliance, including the use of financial transactions financial transactions for base erosion and profit shifting. You will play a vital role in minimising the tax gap by designing out opportunities for non-compliance and supporting case work and high value litigation.
Key Responsibilities:
- Lead and develop a team of around 30 tax and policy professionals
- Provide highly visible people leadership, building an inclusive culture and championing staff engagement;
- Make a strong contribution to the leadership of BAI and HMRC more widely, setting the strategy and direction of the directorate as a member of the BAI Senior Leadership team.
- Be responsible for a wide range of tax legislation applying to different types of financial businesses and transactions
- Work in close and effective partnership with HM Treasury, regulators and industry to develop new policy and legislation in order to meet the government’s policy objectives
- Contribute to HMRC’s strategic objectives for a modern and trusted tax administration, working on measures to reduce the tax gap, improve the customer experience and support the UK economy
- Act as joint Senior Responsible Officer for the Code of Practice on Taxation for Banks
- Support operational compliance colleagues to ensure consistent and effective operation of the tax rules, advise on risk assessment, and provide guidance and certainty to customers and advisers where appropriate
- Provide leadership and support for high value litigation
- Represent HMRC effectively with senior external stakeholders