This document sets out the tax strategy for Caddick Group Limited and its subsidiaries and herein referred to as “Caddick” or “The Group” as required by Part 2 Schedule 19 of Finance Act 2016. The document is effective for the year ending 31 August 2021 and will be periodically reviewed and updated.
The document outlines the Group’s policy and approach to conducting its tax affairs and dealing with tax risk. The strategy applies to UK taxation, including corporation tax, indirect taxes (including customs and excise duties) and employment taxes which are payable and reportable to HM Revenue & Customs (HMRC).
The Group’s overall tax strategy is to ensure that it complies with all tax laws and that it pays all taxes that it is legally required to pay as and when they fall due.
Management of tax risks
The governance of the Group is led by the Board of Directors of the Group and, where applicable, specific divisions or entities. Operation of the day to day tax governance of the Group has been delegated to the Group Finance Director and Rugby Finance Director.
The Group has a very experienced finance team which, under the management of the Group Finance Director and with appropriate support from external advisors, works to ensure that:
- The strategy is adopted and followed consistently across the Group, with clear lines of responsibility and accountability;
- There is alignment of the strategy with the Group’s overall approach to corporate governance and risk management; and
- The Group pays the correct amount of tax required of it as determined by law.
The Board of Directors considers sufficient controls and processes are in place to meet the Group’s tax strategy.
Attitude to tax planning
The tax strategy is aligned with the Group’s values and approach to doing business. The Group does not participate in any tax planning arrangements that are not commercially driven and that do not comply with either the letter or the spirit of tax laws.
The Finance team seeks support from professional advisors when tax matters arise
- that are deemed sufficiently complex or material to the Group,
- where there is a significant degree of tax uncertainty,
- where tax guidance is unclear, or
- where there is insufficient expertise or knowledge to adequately assess the tax risks and consequences of transactions under consideration.
The level of risk the Group is prepared to accept for UK taxation
The Group accepts a low level of risk with regards to UK taxation. Transactions are commercially driven and always undertaken with the intent to comply with all relevant and applicable tax laws.
Working with HMRC
The Group recognises that its long term success is dependent on the way it works with various stakeholders. The Group is committed to acting professionally and with integrity in all business relationships, and this extends to its dealings with HMRC. The Group’s engagement with HMRC is transparent and proactive across all relevant taxes and duties. Where issues do arise the Group seeks to resolve these through agreement with HMRC in a collaborative and timely manner, with the involvement of external professional advisors where appropriate.
This tax strategy was approved by the Directors of Caddick Group Limited on 30th May 2022.