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This page sets out Stewart Milne Group Holdings Ltd’s Tax Strategy. This strategy was published on 21st September 2020 and the Group regards this publication as complying with its duty under paragraph 16(2) of Schedule 19 Finance Act 2016 in its financial year ended 30 June 2020 and 31 October 2020. This strategy applies to all companies in the Stewart Milne Group and will be reviewed annually and updated as required. The Group is committed to ensuring full compliance of all statutory obligations.
Our Tax Principles
1. Managing Tax Compliance and Reporting
The Group is committed to the accurate and timely submission of tax returns and any other required tax documents to the relevant authorities. The Group is committed to paying taxes and fulfilling its tax reporting obligations in compliance with all relevant tax laws, rules and other regulations based on the principle of tax compliance.
The ultimate responsibility for our tax strategy and compliance rests with the Group Financial Director.
Day to day management of the Group’s tax affairs is delegated to the Group Financial Controller and the Finance Directors of the individual companies.
3. Risk management
The Group has a robust system of controls and processes in place to ensure risk is effectively managed in relation to tax with all routine tax work subjected to internal or external review prior to submission.
Where there is uncertainty in how a relevant tax law should be applied external advice is sought to support the Group’s decision making process.
Appropriate training is carried out for all staff who manage or process matters which have tax implications.
4. Attitude towards tax planning and level of risk.
When entering into commercial transactions, the Group seeks to take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. The Group does not engage in transactions that have no commercial purpose for the sole purpose of reducing UK taxation.
We are committed to be recognised as an organisation with a low risk appetite in relation to taxation. Where possible, we aim to have certainty of a tax outcome prior to entering into a transaction.
5. Relationship with HMRC
The Group seeks to have a transparent and constructive relationship with HMRC by ensuring that HMRC is kept aware of significant transactions and changes in the business through discussion with our CRM or by written correspondence.