UK – The Investment Management Association has created a new role of head of tax to help it deal with a higher workload in the area.

The asset management trade body has advertised the role, which carries a “six figure package”, in the Financial Times.

“This position will appeal strongly to individuals who wish to achieve a positive work/life balance (either mid-career or at a later stage) while remaining at the forefront of technical tax developments in the
investment management industry,” the ad states.

“We have created a new role,” said a spokeswoman. The appointee will report to Julie Patterson, director of regulation and taxation. Previously the IMA had relied on rotational secondment from large accounting firms.

The workload has increased recently due to Real Estate Investment Trusts, hedge funds and double taxation treaties.

Meanwhile, the IMA has welcomed a vote in the House of Lords, the upper house of parliament this week to delete a clause in the Company Law Reform Bill.

The IMA said this would have given the Treasury power to require institutional investors to disclose publicly how they vote at company general meetings.

It said: “The IMA supports transparency and welcomes the growing market trend towards greater disclosure. But it believes that mandatory disclosure, enforced by government regulation, would undo the progress that has been made in recent years.”

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