Tax Strategy

Introduction

This tax strategy document sets out The Access Group's approach to managing the Group's tax affairs and the risks associated with them. It has been approved by the Board of Directors and is subject to periodic review, with any necessary changes submitted for approval by the Board.

This strategy is published in accordance with paragraph 16(2) of Schedule 19 to the Finance Act 2016 and applies to the financial year ending 30 June 2025.

Our Approach to Tax

The Access Group is committed to being a responsible taxpayer and maintaining full compliance with all legal requirements and full disclosure to HMRC and all other relevant tax authorities in the countries in which we operate. We are guided by an overall adherence to corporate responsibility while serving the interests of our customers, employees, creditors and stakeholders.

In line with our values and overarching business principles, the Group is committed to complying with all tax laws, guidelines and standards determined by the tax laws of the relevant countries and international treaties and conventions.

We are committed to paying the taxes determined by the laws in each country where we do business on a timely basis. We use available incentives and reliefs efficiently where appropriate to sustainably support our business, reflecting the commercial substance of our operations. 

Tax Planning and Risk Management

The Group's approach to tax planning is commercially driven and within all applicable laws. We do not enter into any artificial or non-commercial arrangements that seek to secure a tax advantage. Where it is appropriate to do so, the Group will structure its affairs tax efficiently, with a view to maximising value on a sustainable basis for our stakeholders. 

All transactions undertaken by the Group have commercial or economic substance and transactions between group companies are undertaken on an arm’s length basis in accordance with OECD transfer pricing principles.  We are committed to acting with integrity and transparency on all tax matters and complying fully with UK and International tax law. The Group's appetite for tax risk is low, acknowledging that tax risks may arise from time to time in relation to the interpretation of tax law.

We strive to file all relevant tax returns and make necessary tax payments on time. Tax risks are primarily managed by ensuring there are appropriately qualified and experienced employees in the Finance team to manage the tax function. External advisors are used to undertake certain tax compliance services on behalf of the Group and to provide advice when required.

Changes to tax legislation and regulation are monitored to ensure that the Group has the necessary processes in place to ensure continued compliance.

Governance and Oversight

The Board of Directors of The Access Group has ultimate responsibility for tax strategy and governance. The Board discharges its responsibilities by satisfying itself that there is an effective organisation and control environment in place.

Responsibility for the management of all tax matters and the implementation of the tax strategy is delegated to the Chief Financial Officer and tax specialists within the finance team. The Group supports the tax specialists continued training and development so that they can provide relevant technical advice. 

The Group has tax policies, procedures and controls in place to mitigate any tax risks faced by the Group. For complex and material transactions, the business is required to involve the tax specialists, which act as a business partner to provide clear advice and guidance to the Group's operations, seeking external expertise when considered necessary.

Tax due diligence is undertaken on all significant acquisitions by the Group's professional advisors. The tax specialists are involved in the M&A process both prior to completion and from an integration perspective.

Relationship with Tax Authorities

The Group seeks to maintain professional and open relationships with HMRC and all other fiscal authorities that it deals with, particularly acting in a cooperative manner with a view to having this approach reciprocated. In the event a dispute arises, the Group is committed to addressing matters promptly and in a constructive manner.

 

Last updated: 30th June 2025, 12pm