ALLPORT GROUP: UK TAX STRATEGY
This strategy applies to Allport Group Limited and to all its operations in the UK (“Allport”) and is published in accordance with paragraph 19 of Schedule 19 to the Finance Act 2016.
This strategy applies from the date of publication until it is superseded. Reference to ‘UK Taxation’ are to the taxes and duties set out in paragraph 15(1) of the Schedule which include Income Tax, Corporation Tax, PAYE, NIC, VAT, Insurance Premium Tax, Customs Duties and Stamp Duty Land Tax. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which the Group has legal responsibilities.
Allport is committed to full compliance with all statutory obligations and full disclosure to all relevant tax authorities. The Group’s tax affairs are managed in a way which takes into account the Group’s wider corporate reputation in line with Allport’s overall high standard of governance.
Governance in relation to UK taxation
- Ultimate responsibility for Allport’s UK tax strategy and compliance rests with the Board of Allport Group Limited.
- Executive management of the Group is delegated by the Board to the Group Finance Director.
- The Group Finance Director is the Board member with executive responsibility for tax matters.
- Day-to-day management of Allport’s tax affairs is delegated to the Chief Accountant for VAT, Capital Gains Tax and Corporation Tax, to the Payroll Manager for Income Tax and National Insurance, to the Company Secretary for Stamp Duty and Land Tax and to the Customs Support and Compliance Manager for Customs and Excise duty.
- The Board ensures that Allport’s tax strategy is one of the factors considered in all investments and significant business decisions taken.
- Allport Group Limited seeks to reduce the level of tax risk arising from its’ operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all processes which could materially affect its’ compliance with tax obligations.
- Processes relating to different taxes are allocated to appropriate process owners, who carry out a review of activities and processes and are charged to identify key risks and put in place mitigating controls. These key risks are monitored for business and legislative changes which may impact them and changes to processes or controls are made when required.
- Appropriate training is carried out for staff who manage or process matters which have tax implications.
- Advice is sought from external advisers where appropriate, examples of which would include:
awareness of and compliance with new tax laws or changes to existing tax laws and practices;
- where complex transactions are entered into (although Allport does not typically enter into complex transactions); and
- assisting with preparation of corporation tax returns.
Attitude towards tax planning and level of risk
Allport manages risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax.
When entering into commercial transactions, Allport seeks to take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. Allport does not undertake tax planning unrelated to such commercial transactions.
We take a conservative approach to tax risk and we strive to manage tax risk at a low level. The level of risk which Allport accepts in relation to UK taxation is consistent with its’ overall objective of achieving certainty in the Group’s tax affairs.
At all times Allport seeks to comply fully with its’ regulatory and other obligations and to act in a way which upholds its reputation as a responsible corporate citizen.
In relation to any specific issue or transaction, the Board is ultimately responsible for identifying and understanding the risks, including tax risks, which need to be addressed and for determining what actions should be taken to mitigate and manage those risks, having regard to the materiality of the amounts and obligations in question.
Relationship with HMRC
Allport seeks to have an open and constructive relationship with HMRC through regular meetings and communication in respect of developments in Allport’s business, current, future and retrospective tax risks, and interpretation of the law in relation to all relevant taxes.
Allport ensures that HMRC is kept aware of any significant transactions and changes in the business and seeks to discuss any tax issues on a real time basis. When submitting tax computations and returns to HMRC, Allport discloses all relevant facts and identifies any transactions or issues where it considers that there is potential for the tax treatment to be uncertain.
Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.