SPIE UK TAX STRATEGY

This page sets out the strategic tax objectives for all SPIE UK entities (SPIE UK).

Our strategy is reviewed annually by the Chief Financial Officer (CFO) in conjunction with the finance team, and refers to all UK taxes and duties including;

All UK corporate income taxes

Indirect taxes (VAT, Stamp Duty Land Tax)

Employment taxes (PAYE, National Insurance, CIS)

Other applicable tax matters

APPROVAL

The UK Tax Strategy has been approved by Tony Wilkinson (Chief Financial Officer) on the 13th December 2018.

OUR TAX STRATEGY

Our tax strategy encompasses the following key principles:

  • To comply with tax legislation requirements at all times
  • To pay the correct amount of tax, utilising tax reliefs in an efficient manner intended by legislation
  • To engage fully and transparently with HMRC
  • To accept only a low level of risk in relation to taxes.

RISK MANAGEMENT

In managing our tax risks, higher risk tax areas are identified, and suitable controls implemented to appropriately manage the risk.

The highest risk areas to the business include:

  • New or complex transactions, including reorganisations, acquisitions or disposals
  • Transactions where there is inherent tax complexity
  • Ensuring compliance with new or amended tax legislation

Where such risk areas are identified, internal resource is focused, and external advisors are engaged to support the finance team where required to mitigate these tax risks.

TAX GOVERNANCE

Governance refers to the responsibility and oversight of the UK's tax affairs.

The day to day tax management is the responsibility of the finance department who engage with external advisors where required. The finance department reports into the CFO, who is the Senior Accounting Officer (SAO), who has ultimate responsibility for the tax affairs of SPIE UK. The CFO is responsible for implementing the tax approach approved by the Board.

TAX PLANNING

Our tax planning seeks to efficiently utilise all claims and reliefs available under UK tax legislation in a responsible manner, taking into account the wider Group strategy.

We adhere to all relevant tax laws.

RELATIONSHIPS WITH HMRC

SPIE is committed to full and transparent disclosure.

We engage with HM Revenue and Customs (HMRC) through regular communications, including meetings with our Customer Relationship Manager. We will engage in timely communication if disputes arise until a resolution is achieved.

Download the Tax Strategy

Want to find out more?

Send us a message