In accordance with Schedule 19 Finance Act 2016, the following sets out the Tax Strategy of Ingenico (UK) Ltd and all UK entities in its group (the “UK Group1”). This strategy is effective from the date of publication until it is superseded.
The tax strategy applies to all UK taxes and duties set out in paragraph 15(1) of Schedule 19 which includes Income Tax, Corporation Tax, VAT, PAYE, NIC and Stamp Duty Land Tax.
The UK Group manages its tax affairs with integrity and transparency at all times. All submission of tax filings and remittance of tax liabilities are adhered to on a timely basis and form a key part of this strategy.
THE GROUP'S TAX RISK MANAGEMENT
The Group has robust financial systems in place to ensure all financial transactions are accurately reported and the tax thereon is calculated correctly.
Any matters that may require judgement are reserved for members of the finance team and ultimately the Head of Finance. External advice is sought from major accounting firms and legal practices as and when required.
The objective of tax risk management is to identify, access, and reduce tax risk to an acceptable level. Tax Risk Management is not necessarily minimising risk. Businesses make profits by taking risks and a no-risk strategy is neither cost effective nor right for any business. We aim to ensure that all personnel with tax responsibilities, or whose business activities may have a tax impact, have a consistent understanding of how tax risk is identified, assessed, reported and managed.
THE GROUP'S ATTITUDE TO TAX PLANNING
Our tax strategy and policies require that we fully comply with all UK Tax law. We are committed to acting with integrity and transparency. We aim to make timely and accurate of all UK tax returns, including sufficient detail to enable HMRC to form an accurate view of the affairs of the company filing the return with adequate audit trail and sign off process and paying the appropriate amount of tax at the correct time.
WORKING WITH HMRC
The UK Group is committed to maintaining an open, and collaborative approach with HMRC. We aim to ensure that our tax affairs are reported accurately. Where there is uncertainty on a tax matter, we look to discuss the matter with the relevant tax authority to obtain certainty for both the Group and tax authority concerned. If we were to identify an error on a submitted tax return, we would voluntarily disclose it, quantifying the effect of the error and paying any additional tax, interest and penalties that may become due as a result.
UK Group covers all UK based entities controlled by Ingenico Group, namely; Ingenico (UK) Ltd, Ingenico e-Commerce Solutions UK Ltd and Global Collect Services UK Ltd and their associated subsidiaries.