Approach to Tax Planning

The tax planning we undertake is based on our substantive commercial activities and is entered into with regard to the potential impact on our reputation. In situations where the tax law is unclear or uncertain, we seek advice from external advisers, as appropriate. We will also consult with HMRC on significant transactions and changes in our business.

 

Our Relationship with HMRC

A strong and transparent relationship with HMRC is an important component of our UK tax strategy. We are committed to conducting our tax affairs with integrity and to maintaining a regular and open dialogue with HMRC on UK tax matters. We work with HMRC in an honest, responsible and cooperative manner. In situations where disagreements arise, we proactively work with HMRC to resolve them.

 

Governance and Risk Management

The Chief Financial Officer has ultimate responsibility for TopHat’s tax affairs. Day-to-day responsibility for UK tax matters is delegated to the Head of Tax. Any issues are escalated to the Board of Directors by the Head of Tax as appropriate.

 

This statement has been approved by the Board and is published in accordance with the requirements of Paragraph 16(2) Schedule 19 Finance Act 2016 in respect of our financial year ending 31 October 2021.