In compliance with section 161 and section 22(2) of Schedule 19 Finance Act 2016, Alsecco (UK) Limited (“the Company”) is publishing its tax strategy for the year ending 31 December 2017.
Our business has a strong focus on corporate responsibility, and we see responsible administration and payment of taxation as a responsibility of our business. Our overall tax strategy is to:
We want our tax affairs to be transparent and compliant with tax legislation, and recognise that managing tax compliance is increasingly complex. Our internal structure is set up to ensure:
We do not undertake aggressive tax planning, the sole purpose for which would be obtaining a tax advantage. We have a responsibility to minimise our tax risk and our exposure to negative publicity through non-compliance.
The Board sees compliance with tax legislation as key to managing our tax risk.
We have relationships with professional advisers that allow us to seek expert advice on specialist areas of tax. Our approach is to ensure we are compliant and understand our responsibilities with regards to tax, rather than looking for ways to aggressively avoid payment of tax.
The Board is conscious of the hugely negative publicity attracted by a bad attitude towards tax, and sees strong internal processes and a good relationship with our professional advisors as the best way to manage this reputational risk.
The Company seeks to adopt an open, co-operative and professional working relationship with HMRC.
We employ the services of professional tax advisers to act as our agents, and in a number of cases they liaise with HMRC on our behalf. This is seen by the Board as a way to ensure we get the most out of our relationship with HMRC, thus reducing our tax risk.