One minute with Ceri Ulyatt, Global Head of Tax and Treasury for the Computershare group.
What’s keeping you busy at work?
As a group with a 30 June year-end, I’m in the midst of preparing for the group external audit, reviewing our tax risks and assessing regulatory changes. I’m also conducting performance appraisals and discussing development plans for the team. Despite the busy period, it’s a favourite time of year as we get to stand back, look at what’s been achieved and celebrate individual and team successes!
If you could make one change to tax, what would it be?
HMRC recently issued a financial services VAT policy statement. This includes a narrow view of VATA 1994 Sch 9 Group 5 item 1, which could increase VAT costs and compliance complexities for businesses offering relevant services.
While HMRC are consulting with taxpayers to confirm how VAT exemptions are applied, the period between the policy statement and updated guidance leaves businesses with uncertainty. This complicates financial planning and makes predicting compliance costs and resource requirements challenging.
My change would be for HMRC (or any tax authority) to change the process when new policies are issued and implement a pre-consultation phase to gather initial feedback from key stakeholders before issuing policy statements. This would address major concerns early on, leading to more refined and accurate guidance from the outset and would reduce uncertainty.
Share a tip on managing the in-house tax function.
Our tax function has a key strategic objective of business partnering, so it’s crucial to align tax strategies with broader business goals. Having a clear understanding of what the function is required to achieve allows for specific measurable objectives to be cascaded throughout the function. This ensures that everyone is clear on what is expected of them and that they are all working towards the same common goal.
In addition, invest in your team! It’s harder when you’re in-house to prioritise structured learning, but ongoing training and development plans at every level are essential to support enhancement of individuals’ skills, adaptability and confidence. With this, you not only get continuous learning and improvement, but an increased capability to engage with stakeholders and improved team performance.
What do you know now that you wish you’d known at the start of your career?
The importance of building strong relationships and networks. In my earlier years, I would shy away from seeking feedback in case it wasn’t what I wanted to hear, but I’ve learnt that the different perspectives and insights allow you to better assess your strengths and weaknesses, take ownership of your personal development and identify areas for improvement.
My advice is to find those stakeholders who you value and trust and start actively asking for feedback. You’ll be surprised at how powerful self-reflection is as a learning tool.
Are any new rules causing a particular problem?
We are entering a new era of global tax compliance where the complexities of Pillar Two demand unprecedented levels of transparency and coordination. But with cost constraints and a limited resource pool, it means difficult decisions to divert resources and funds from other strategic initiatives.
You might not know this about me but...
I’ve got a BSc (Hons) degree in Physical Education and Sports Science from Loughborough University! A severe injury limited my ability for a career in sport, so I took a detour into the world of tax and finance and I don’t regret that decision one little bit. The overlap between the two worlds is greater than you would imagine. I am fascinated to understand how the differing styles of leadership can shape the performance and outcomes of a team. Whether I’m leading a team of tax and corporate treasury professionals or coaching a netball team, the principles remain the same. And let’s be honest, navigating tax law can sometimes feel like dodging defenders on the court!
One minute with Ceri Ulyatt, Global Head of Tax and Treasury for the Computershare group.
What’s keeping you busy at work?
As a group with a 30 June year-end, I’m in the midst of preparing for the group external audit, reviewing our tax risks and assessing regulatory changes. I’m also conducting performance appraisals and discussing development plans for the team. Despite the busy period, it’s a favourite time of year as we get to stand back, look at what’s been achieved and celebrate individual and team successes!
If you could make one change to tax, what would it be?
HMRC recently issued a financial services VAT policy statement. This includes a narrow view of VATA 1994 Sch 9 Group 5 item 1, which could increase VAT costs and compliance complexities for businesses offering relevant services.
While HMRC are consulting with taxpayers to confirm how VAT exemptions are applied, the period between the policy statement and updated guidance leaves businesses with uncertainty. This complicates financial planning and makes predicting compliance costs and resource requirements challenging.
My change would be for HMRC (or any tax authority) to change the process when new policies are issued and implement a pre-consultation phase to gather initial feedback from key stakeholders before issuing policy statements. This would address major concerns early on, leading to more refined and accurate guidance from the outset and would reduce uncertainty.
Share a tip on managing the in-house tax function.
Our tax function has a key strategic objective of business partnering, so it’s crucial to align tax strategies with broader business goals. Having a clear understanding of what the function is required to achieve allows for specific measurable objectives to be cascaded throughout the function. This ensures that everyone is clear on what is expected of them and that they are all working towards the same common goal.
In addition, invest in your team! It’s harder when you’re in-house to prioritise structured learning, but ongoing training and development plans at every level are essential to support enhancement of individuals’ skills, adaptability and confidence. With this, you not only get continuous learning and improvement, but an increased capability to engage with stakeholders and improved team performance.
What do you know now that you wish you’d known at the start of your career?
The importance of building strong relationships and networks. In my earlier years, I would shy away from seeking feedback in case it wasn’t what I wanted to hear, but I’ve learnt that the different perspectives and insights allow you to better assess your strengths and weaknesses, take ownership of your personal development and identify areas for improvement.
My advice is to find those stakeholders who you value and trust and start actively asking for feedback. You’ll be surprised at how powerful self-reflection is as a learning tool.
Are any new rules causing a particular problem?
We are entering a new era of global tax compliance where the complexities of Pillar Two demand unprecedented levels of transparency and coordination. But with cost constraints and a limited resource pool, it means difficult decisions to divert resources and funds from other strategic initiatives.
You might not know this about me but...
I’ve got a BSc (Hons) degree in Physical Education and Sports Science from Loughborough University! A severe injury limited my ability for a career in sport, so I took a detour into the world of tax and finance and I don’t regret that decision one little bit. The overlap between the two worlds is greater than you would imagine. I am fascinated to understand how the differing styles of leadership can shape the performance and outcomes of a team. Whether I’m leading a team of tax and corporate treasury professionals or coaching a netball team, the principles remain the same. And let’s be honest, navigating tax law can sometimes feel like dodging defenders on the court!
