Group Tax Strategy
This document, approved by the board of EAI Ltd, sets out the Group’s approach to conducting tax affairs and dealing with tax risks for the year ending 31 December 2017.
Eden Motor Group is committed to:-
- Following all applicable laws and regulations relating to its tax activities.
- Maintaining an open and honest relationship with the tax authorities, based on collaboration and integrity.
- Applying diligence and care in our management of the processes, by which all tax related activities are undertaken, and ensuring that our tax governance is appropriate.
- Using incentives and reliefs to minimise the tax cost of conducting our business, while ensuring that these reliefs are not used for purposes which are knowingly contradictory to the intent of the legislation.
The Approach of the Business to Tax Risk Management and the Level of Risk the Business is Willing to Accept
Although there are complexities in managing the Group’s tax affairs across a number of functional areas of the business, the processes and policies in place, throughout the Group, give the Directors confidence that it has appropriate tax accounting arrangements. These enable each Group to calculate all its relevant liabilities in all material respects. Notwithstanding the Group-wide tax accounting processes and reviews, there will inevitably be risks of error or omission within these processes.
The Group’s attitude towards the processes designed to reduce these tax risks is driven by the likelihood of occurrence and scale of impact of each risk.
When reviewing the tax risks associated with a specific decision or action, the Group ensures that the following are considered:-
- The legal and fiduciary duties of directors and colleagues.
- The requirements of any related internal policies or procedures.
- The maintenance of the Group’s corporate reputation.
In cases where the tax guidance is unclear, or the Group does not feel it has the necessary expert knowledge to assess the tax consequences adequately, external advice may be sought to support the Group’s decision-making process.
Approach Towards Dealings With HMRC
The Group is committed to the principles of openness and transparency in its approach to dealing with HMRC, and, in particular, the Group commits to:-
- Make fair, accurate and timely disclosure in correspondence and returns, and respond to queries and information requests in a timely fashion.
- Seek to resolve issues with HMRC in a timely manner, and where disagreements arise, work with HMRC to resolve issues, by agreement, where possible.
- Be open and transparent about decision-making, governance and tax planning.
- Interpret the relevant laws in a reasonable way, and ensure transactions are structured consistently.
- Ensure all interactions with HMRC are conducted in an open, collaborative and professional manner.
Signed on behalf of Eden Automotive Investments Limited
Group Finance Director and Senior Accounting Officer