Scope
This page sets out the tax strategy that applies to the group of companies headed by Listers Group Ltd and has been published in accordance with paragraph 16(2) of Schedule 19 to the Finance Act 2016. References to ‘Listers Group’ or ‘the group’ are to all the companies that are members of the group.
References to ‘tax’, ‘taxes’, ‘taxation’ or ‘UK taxation’ are to the taxes and duties set out in paragraph 15(1) of Schedule 19 which include Corporation Tax, Income Tax, National Insurance Contributions and Value Added Tax.
Governance in relation to UK taxation
As a responsible taxpayer, Listers Group is committed to compliance with relevant tax laws and full disclosure to the tax authorities. The group’s tax affairs are managed in a way which takes into account Listers Group’s wider corporate reputation.
Ultimate responsibility for the group’s tax strategy and compliance rests with the Board of Listers Group Ltd.
The Director of Finance, who reports to the Chief Executive, is the executive with responsibility for the group’s tax matters.
Day-to-day management of Listers Group’s tax affairs is delegated to the Company Secretary and the Head of Payroll, who report to the Director of Finance.
Taxation work is carried out by appropriately qualified individuals who collaborate with other employees within the group to ensure that accurate information is provided on a timely basis.
Managing tax risks
Listers Group manages tax risks to ensure compliance with legal requirements in a manner which results in payment of the correct amount of tax (i.e. neither too much nor too little).
Within the group’s internal control framework applicable to financial and tax reporting, processes relating to specific taxes are managed by appropriate employees who assess the tax risks and implement controls designed to identify and mitigate such risks.
Changes in Listers Group’s activities and changes to tax legislation are assessed and, when required, appropriate amendments are made to the group’s processes and controls to address such changes.
Appropriate training and guidance is provided for employees who manage processes or process transactions that have tax implications.
External professional advisors are engaged where deemed necessary to assist with tax compliance or to advise on specific transactions.
Attitude towards tax planning and level of risk
Listers Group adopts a low risk attitude towards tax planning. The group does not participate in tax avoidance schemes, nor does it employ artificial or abusive arrangements.
When entering into commercial transactions, Listers Group seeks to make use of available tax reliefs, incentives and exemptions in accordance with tax legislation (e.g. claims for capital allowances). The group does not undertake tax planning that is unrelated to commercial transactions.
The level of risk that Listers Group accepts in relation to taxation is consistent with its objective of achieving certainty in the group’s tax affairs.
Relationship with HMRC
Listers Group seeks to maintain a co-operative and constructive relationship with HMRC through regular communication in respect of developments in the group’s activities, tax risks and interpretation of the law in relation to relevant taxes.
The group aims to ensure that HMRC is kept aware of significant transactions and changes in the group’s operations and seeks to discuss any tax issues arising at an early stage.
Where Listers Group considers there is potential for uncertainty in the tax treatment of transactions or in the interpretation of UK tax law, it will draw such matters to the attention of HMRC and seek to consult with HMRC at an early stage where necessary.
Published 12th March 2024