2018 Annual tax strategy

Publication date: 19 December 2022

1. Overview

The purpose of this document is to set out Andros UK Ltd’s policy and approach to taxation. The document has been approved and endorsed by the Andros UK Ltd Board. Any amendments to the policy will also be approved by the Board. The document applies to the Company’s accounting year ending 31 December 2018. The taxation strategy outlines how we seek to :

  • Manager our tax affairs in accordance with our corporate values;
  • Mitigate current and emerging tax risk; and
  • Have an open and honest relationship with HMRC

2. Tax risk management

The Board has ultimate responsibility for the Company’s tax affairs, it reviews and approves the Tax Strategy on an annual basis. The Board has delegated the day to day responsibility for the management of taxes to the Financial Controller who leads the Finance department. The finance department comprises of a team of professionals who equipped with the appropriate knowledge, skills and capabilities to manage the Company’s tax affairs and maintain oversight of the tax risks across the Company.

Meetings are held on a regular basis between the Managing Director and Financial Controller where taxation issues are discussed as they arise.

3. Tax planning: Our approach

We dot no engage in artificial tax arrangements without business or commercial substance. Our finance function works with our business to ensure that the appropriate tax analysis and considerations are undertaken for material business decisions.

Where relevant, the Company utilises legitimate tax incentives and reliefs offered by government bodies.

Regular communication is sought with external tax advisors to support our interpretation of new and existing taxation legislation to ensure continuing compliance.

4. Tax risks

We are not prescriptive in terms of the levels of acceptable risk, however we comply with legal requirements in a manner that ensures we pay the required amount of tax. This is underpinned by a professional, co-operative and open relationship with HMRC.

5. Relationship with HM Revenue & Customs

We adopt a collaborative approach to our interactions with HMRC including in relation to considering current, future and retrospective tax risks, events and interpretation of laws across all relevant taxes and duties.