Tax strategy
The tax strategy and tax policies of our UK group.

Strategy

  • The UK Group is committed to acting with integrity and transparency in all tax matters.
  • Our tax strategy and policies require that we fully comply with the letter and spirit of UK tax law.
  • We make timely and accurate tax returns that reflect our fiscal obligations to Governments.
  • We aim for certainty on tax positions and our policy is not to make interpretations of tax law that are opposed to its original spirit.
  • To support us in ensuring that we have interpreted tax law and its spirit correctly, we seek advice from large accounting firms, legal firms and/or tax counsel as appropriate.

Our relationship with HMRC (HM Revenue & Customs)

  • An important part of our tax strategy and policies is the maintenance and development of a strong, proactive working relationship with HMRC.
  • We are transparent with HMRC and, in cases of interpretation or complexity, work with them on a real time basis to determine the amount of tax due.

Tax disclosure

  • We understand the value of our financial reporting to customers, investors and other stakeholders.
  • We work to provide enhanced, transparent and balanced disclosure in communicating our tax affairs.

Governance

  • Tax is an integral part of the Finance function of the UK Group and the Financial Directors/CFOs of each of the UK-based companies have ultimate responsibility.
  • Tax strategy and policies are reviewed on an on-going basis by the Board of Directors of each company.
  • Tax strategy and policy issues are assessed on a case by case basis by the Financial Directors
  • Day-to-day tax matters are delegated to the UK Group Tax Managers.

Our Customer Services team are currently experiencing very high volumes of applications, calls and correspondences, resulting in service times that are longer than usual. Unfortunately your wait time to get through to us, or to receive a response from us, is taking longer than we would like. If you have already emailed or messaged us, please know we are working through it as quickly and as soon as possible. Please bear with us, and we ask that you do not send repeat emails and secure messages as this may add to the delay.

Our website remains available 24/7 so you can apply, access and manage your account online as usual. Thank you for your continued patience at this time.