Tax Strategy
Background
This Tax Strategy applies to all the UK resident companies which are listed at Appendix 1 and which together make up the Access Group.
It has been published in accordance with paragraph 16(2) of Schedule 19 to the Finance Act 2016 and applies to fiscal year 2024.
The taxes to which the strategy apply are those set out in paragraph 15(1) of the Schedule and include Income Tax, Corporation Tax, PAYE, NIC, VAT and Stamp Duty Land Tax.
Being a responsible taxpayer
The Group seeks to ensure full compliance with all legal requirements and full disclosure to HMRC and all other relevant tax authorities in the countries in which it operates.
The Group aims to pay the appropriate amount of tax and maintain the level of tax risk that is acceptable for its business. The Group seeks to minimize the amount of tax paid where it reasonably can. This is achieved through ensuring systems are in place to ensure tax is calculated correctly and by maximising any tax reliefs that are available such as capital allowances and R&D tax credits.
The Group strives to file all relevant tax returns and make necessary tax payments on time.
The Group does not enter into any artificial or non-commercial arrangements that seek to secure a tax advantage.
Tax governance
The ultimate responsibility for tax strategy and governance rests with the Board of Directors.
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 has tax policies, procedures and controls in place that are overseen by the Chief Financial Officer that seek to mitigate any tax risks faced by the Group.
Managing tax risk
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 should it be required.
Changes to tax legislation and regulation are monitored to ensure that the Group has the necessary processes in place to ensure continued compliance.
Should any uncertain positions arise, advice will be sought from third party advisors. Tax filing positions are supported with appropriate evidence.
Tax due diligence is undertaken on all significant acquisitions by the Group’s professional advisors. The Finance team are involved in the M&A process both prior to completion and from an integration perspective.
Working with HM Revenue and Customs
The Group seeks to have an open and cooperative relationship with HMRC and all other tax authorities in the countries in which it operates. In the event a dispute arises, the Group is committed to addressing matters promptly and in a constructive manner.
Last updated: 4th July 2024, 15pm
