Audit Manager, Financial Services

Roles and Responsibilities

Responsibilities below are generalised and are no way exhaustive:

▪ Audit: statutory and CASS audit, planning, completion, attend / lead client meetings etc.
▪ Being a key point of contact throughout the year
▪ Building and maintaining strong relationships with existing clients as well as prospective clients
▪ Accounts preparation
▪ Provision of general business advice to clients
▪ Managing the overall service delivery to clients
▪ Ad hoc special projects
▪ Client billing and job recoverability
▪ Prospective client meetings
▪ Assist in supervising/managing the audit staff including having a responsibility for the coaching and development of the team members reporting directly into you taking responsibility for career development of others
▪ Business development activities such as building relationships with target clients and referrers in the Financial Services sector
▪ Assist where required in the general running of the audit department
▪ Reporting directly to the partner and having several direct team members report to you.

The candidate

Behavioural competencies

▪ The successful candidate will be able to multitask in terms of handling multiple clients simultaneously
▪ Excellent technical and personal skills to service a portfolio of clients efficiently and effectively
▪ Excellent communication skills and be confident, articulate and able to communicate at all levels externally and internally
▪ Ability to produce high quality business style reports for non-executive committees
▪ Presentation skills for tendering for new work
▪ A team player with the ability to prioritise work and work to tight deadlines
▪ Strong organisational skills
▪ Have a proven track record of establishing and maintaining strong relationships
▪ Ability to successfully support, nurture and motivate different team members

Work based competencies

▪ Financial Services sector experience
▪ Expert in the financial elements of the FCA handbook
▪ Strong knowledge of UK GAAP and international standards on auditing
▪ Working knowledge of Tax
▪ Experience of Caseware or similar accounts production software
▪ Experience of management of the audit from planning to supervision and onsite reviews
▪ Qualified accountant

Robert Sinclair

Rob specialises in managing statutory audits and regulatory assurance work in the financial services sector. In addition to his focus on fund management clients his portfolio includes further corporate clients, educational trusts and schools, membership bodies and firms of solicitors.

Prior to joining haysmacintyre in 2007 Rob studied history at the University of Bristol and for the ICAEW ACA qualification at BPP.

In his spare time, Rob enjoys trips and activities with his young family, cycling, cooking and fishing.

Joanne Hennessy

Jo is experienced in all aspects of employment taxes from compliance requirements, supporting clients with HMRC investigations through to proving advice. Working in these areas has demonstrated how the impact on each client of the same legislation can be significantly different which keeps her passionate about her role.

Jo’s professional development started with HMRC, when it was still the Inland Revenue and was then enhanced through her time in work for two of the current big four accountants before joining haysmacintyre in 2007.

Jo’s was a primary school governor which was a rewarding and interesting experience which as her children have moved on to higher education has now come to an end.

Outside of work Jo keenly follows her son’s sporting and scouting achievements and also visits the gym, and takes part in some organised classes. In addition, she enjoys a good walk a beautiful surrounding whenever possible, going to the theatre and reading.

Kiran Chotai

Having a broad range of experience under his belt, Kiran, whilst specialising in matters such as Income Tax, Capital Gains Tax and Inheritance Tax, has a good understanding of the other taxes, and so enjoys advising clients taking a holistic approach.

Kiran joined haysmacintyre in 2006 from a small firm where he had gained experience in bookkeeping, VAT compliance, payroll matters, accounts preparation, corporate and personal tax compliance, audit and overall practice management.

Outside of haysmacintyre, Kiran does a lot of voluntary work with charities that promote education, spiritual well-being, yoga and help alleviate hunger in the UK and in the Asian sub-continent.

In his spare time, Kiran enjoys spending time with his young family, travelling and playing (and trying to sing!) the harmonium, a traditional Indian instrument.

Kamlesh Chauhan

The VAT rules are constantly evolving with continual changes in HMRC practice and guidance, case law, and VAT legislation. Kam ensures that he is up to date with VAT developments and keeps clients informed on how any changes may affect them. As an experienced VAT adviser, Kam prides himself on being able to explain complex VAT matters to clients in way that they can understand.

Prior to joining haysmacintyre in 2012, Kam worked for a ‘Top 10’ accountancy firm for a number of years in a generalist role as well as being a member of a ‘Big 4’ VAT team specialising in Financial Services.

Beyond haysmacintyre, Kam is involved in the VAT Practitioners Group which is an organisation that brings together individuals with an interest in VAT from a variety of backgrounds to share VAT knowledge.

In his spare time, Kam enjoys spending time with his young children, playing sports, and reading detective novels.

Mark Baycroft

Mark enjoys creative thinking to advise on challenging technical problems in any area of tax, particularly where multiple taxes are involved, and does not restrict himself to purely business/corporate or personal taxes. Mark thrives on variety and is always looking to get involved in a new problem or a new area.

Prior to joining haysmacintyre in 2020, Mark had spent a year at an independent tax consultancy, following over 20 years with a top 20 firm.

Mark is an active member of his local institute branches and regularly lectures and chairs discussion groups on a variety of tax topics, giving him a broad awareness of tax issues facing small and large businesses.

In his spare time, Mark enjoys countryside walks, cooking and a rekindled passion for Lego models.

Jessica Edwards

Open and friendly relationships with clients are important to Jess. She is in contact with her clients year round, supporting them in a range of challenges from compliance matters such as audit and year end accounts, through to advisory matters such as due diligence and ad hoc advice.

In her spare time, Jess loves to travel and coming home as well, as she enjoys all London has to offer culturally and food-wise. She is also a regular volunteer for Samaritans.

George Crowther

George’s clients include membership bodies, professional partnerships, FCA regulated bodies, property and general commercial entities. In addition to seeking to add value to his clients across a range of assurance related matters he also advises on the wider financial, business and tax issues. George has gained substantial hands on management experience within the firm and has also been a director of MSI Global Alliance, our international association since 1990. This further experience enables him to more fully understand business and management issues and advise on relevant solutions.

His interests include sport and travelling. As a sports participant he enjoys playing golf and going to the gym, and as a sports fan enjoys watching football, rugby and golf.

Making Tax Digital for Income Tax

Individuals and partnerships with individual partners will be included in MTD. Partnerships with corporate members, Limited Liability Partners (LLPs), Limited Partnerships, Trusts, Estates and pension schemes will be excluded.

The tax year basis

In anticipation of the MTD implementation, HMRC is proposing a change to the current rules as to how profits are allocated to a tax year. The proposal is to replace the existing current year basis for trading income with a new tax year basis.

The current year basis means taxable profits for a tax year are normally based on the accounting period ending in a tax year; for example, accounting profits to 30 September 2020 are taxed in the tax year 6 April 2020 to 5 April 2021. With the proposed changes, tax would instead be payable based on the profits of the tax year: with a 30 September 2023 year end, for the tax year 6 April 2023 to 5 April 2024, the apportionment would allocate 6/12 of the year to 30 September 2023 and 6/12 of the year to 30 September 2024. Unless the accounting period end is 31 March/5 April, this will mean that two years’ accounting profits will need to be apportioned for tax purposes. This may mean that estimates are required for the tax return, as figures for the later of the two years may not be available when the tax return is submitted. HMRC has proposed that such businesses would revise their tax return once figures for the second year become available.


The 2022/23 tax year will be a transition year and for unincorporated businesses which do not have a 31 March/5 April accounting date, more months of taxable profit will be taxed in this year.

Following the same example, a 30 September 2023 accounting date will lead to 18 months’ profits being taxable in 2022/23: the 12 months to 30 September 2022 and the period from 1 October 2022 to 31 March/5 April 2023.

Overlap relief may apply, but in many cases, there will be increased tax liabilities for 2022/23. HMRC proposes that the additional profit may be spread over up to five future years.

Submissions to HMRC

If the tax year basis proposal is implemented, all businesses chargeable to Income Tax on trading income will commence MTD from 6 April 2023.

The quarterly submissions to HMRC will be required to include total income and total expenses, by defined categories.

Assuming that all businesses will be assessed on the tax year basis, the quarterly submissions will be due as follows:

Chargeable quarter Submission deadline
5 July 5 August
5 October 5 November
5 January 5 February
5 April 5 May

In addition, an End of Period Statement (EOPS) must be submitted to HMRC by 31 January following the end of the tax year, eg by 31 January 2025 for the 2023-24 tax year. The EOPS will include any accounting adjustments such as Capital Allowances and the offset of losses, and any other sources of taxable income or gains not included in the quarterly submissions.

The tax payment dates will remain unchanged. Quarterly tax payments will not be due.

The end of Self-Assessment?

Taxpayers who do not have rental income or self-employed income and who are therefore not in MTD, will continue to file Self Assessment returns, for the time being.

Next steps

The introduction of MTD for income tax will mark a fundamental change to the UK tax system. We expect the MTD regulations to be published this autumn, and we will update you then.

In the meantime, please consider the following as early preparation:

  • Set up a separate bank account for your trading or rental income and expenses, if you do not already have one
  • Talk to your haysmacintyre contact about digital bookkeeping and record keeping
  • Consider changing your accounting year end to 31 March or 5 April, if required
  • Submit your views on the proposed move to the Tax Year Basis to HMRC, by 31 August
  • Start collating your income, expenditure and other tax information on a real time basis now, rather than waiting until April 2023

Professional Partnerships

Professional practices face many pressures from new regulations, increasing competition and clients demanding more for less. With so many changes sweeping the professional services sector, getting the right advice when you need it, from advisers who understand your business and sector, can make the difference between success and failure.

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