This document, approved by Eurilait Limited senior management, sets out our approach to conducting its tax affairs and dealing with tax risks for the year ending 31 December 2020. This strategy applies to Eurilait Limited in accordance with paragraph 22 of Schedule 19 to the Finance Act 2016.
Introduction
We understand the importance of the taxes we pay in supporting the development and growth of the communities in which we operate and take a responsible approach in respect of our tax obligations.
This is consistent with our wider business objectives and company values. In short, we are committed to acting in a responsible manner in relation to our tax affairs.
The tax strategy applies to all taxes, including corporation tax, VAT, sales, and employment related taxes, and applies to all personnel who have responsibilities related to Eurilait Limited taxes.
Approach to risk management and governance arrangements in relation to UK taxation
Tax risk is assessed is considered as part of our systems of internal control. Professional and technically skilled staff are involved in tax risk management and resulting actions. Staff keep aware of changes to tax legislation and regulations through continuous professional development and through consultation with external advisors.
Where there is uncertainty in how the relevant tax law should be applied, external advice may be sought to support the Group’s decision-making process.
When reviewing the tax risks associated with a specific decision or action, we ensure that the following are considered:
- The legal and fiduciary duties of directors and employees.
- The requirements of any related internal policies or procedures.
- The maintenance of our corporate reputation, having particular regard to the way we interact with the communities around us.
- The wider consequences of potential disagreement with tax authorities, and any possible impact on relationships with them.
Attitude towards tax planning and acceptable risk
Eurilait Limited takes a conservative approach to tax planning and does not pursue aggressive tax planning arrangements. We seek to be efficient in our tax affairs but ensure that any planning is based on sound commercial principles and with full approval from parent companies.
We will take advantage of the reliefs and incentives that exist but show respect for the intention of the law, as well as the letter, at all times.
Eurilait Limited will only undertake arrangements which they reasonably believe do not contradict the spirit of the law. For example, we will not undertake transactions for tax which are inconsistent with the underlying economic consequences or undertake marketed avoidance. The company will not establish business in tax havens.
The approach of the business towards its dealings with HMRC
Eurilait Limited seeks to have a transparent and constructive relationship with HMRC in respect of developments in our business, current, future and retrospective tax risks, and interpretation of the law in relation to all relevant taxes.
Eurilait Limited ensures that HMRC is kept aware of significant transactions and changes in the business and seeks to discuss any tax issues arising at an early stage.
When submitting tax computations and returns to HMRC, Eurilait Limited discloses all relevant facts and information. Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.
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