This strategy is applicable for Ultimate Finance Group Limited, its subsidiaries, its immediate parent, Bentley Park (UK) Limited, and any other subsidiaries of its immediate parent (“the Group”).
We are committed to paying the right amount of tax, in the right place, on a timely basis in accordance with tax law and practice in the UK. Tax payments include but are not limited to: Employee PAYE, Employee NIC, Employer NIC, Corporation Tax and VAT.
The Board recognises the importance of tax and delegates responsibility to the Chief Financial Officer.
This tax strategy statement is approved and overseen by the Board. The Chief Financial Officer, who has overall responsibility and governance of this tax strategy statement, annually provides an update to the Board to confirm compliance.
Our approach to taxation is periodically reviewed to account for changes in the market, the business, tax laws, regulation and emerging tax risks.
As with every business, tax risks will inevitably arise from time to time. The Group views tax risk management as a priority and as such has developed preventative controls to maintain an acceptable level of tax risk.
Where applicable laws and regulations are subject to interpretation, giving rise to inevitable complexity and uncertainty, we seek appropriate assurance regarding the position taken from reputable third party advisers.
The Group seeks to manage costs in relation to tax on a sustainable basis. For example, we seek to claim incentives or reliefs where they are justifiable, properly disclosed to HMRC, reviewed with appropriate levels of professional competence and meet the Group’s levels of risk criteria. We will not put in place any arrangements that are contrived or artificial.
We disclose all relevant facts and circumstances to HMRC on all required tax matters, in line with our commitment to compliance. We work closely with our professional advisers and any dialogue with HMRC is conducted in an open, honest and transparent manner, acting fairly, responsibly and with integrity.
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