We are dedicated to complying fully with the letter and spirit of the laws that govern us and believe that honesty and integrity are at the heart of our business. Consistent with this, our UK tax strategy is to comply fully with the spirit and letter of all applicable tax laws and regulations, and to meet all applicable reporting obligations in a timely and accurate fashion. Our Finance department is staffed by qualified experienced finance and tax professionals, and we maintain accounting systems and strong internal controls sufficient to support our tax compliance obligations. Our Senior Accounting Officer certifies to HMRC on an annual basis that we have appropriate tax accounting arrangements in place to facilitate this compliance.
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 Group Tax Manager. Any issues are escalated to the Board of Directors by the Group Tax Manager 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 2022.