In accordance with the requirements of paragraph 16 (2) of schedule 19 of the Finance Act, Tetrosyl Group Ltd presents the Groups UK Tax Strategy. This tax strategy applies to Tetrosyl Group including all its UK entities and has been approved by the Board of Directors of Tetrosyl Group Ltd. The policy applies to the financial year ended 31st March 2024.
Attitude to Tax Planning
Tetrosyl Group conducts its tax affairs taking advantage of appropriate tax reliefs, exemptions and incentives. Whilst the Group seek to minimise its tax liabilities it does not use aggressive tax reduction schemes or artificial tax planning arrangements that are not underpinned by genuine commercial transactions. To ensure that tax is appropriately considered within the Groups commercial transactions, internal experts and external advisors are employed as part of the business planning process.
Tax Risk Management
The Groups objectives are to submit all returns correctly on time with comprehensive supporting documentation to back up each submission. Training is provided to Finance staff in addition to professional qualifications to ensure the appropriate level of expertise is applied across the area of taxation. A tax risk register has been created with the support of external advisors to ensure the appropriate tax accounting measures are in place under the Senior Accounting Officer regime.
Level of Risk in Relation to UK Taxation
Tetrosyl Group seeks to fully comply with its tax obligations. The Groups takes a low-risk approach to managing its tax liabilities, as such when it is faced with an uncertain tax position it will seek external legal and accounting advice.
Working With Tax Authorities
Tetrosyl Group is committed to engaging with HMRCE in an open and transparent manner. The Groups interaction with tax authorities are conducted in the spirit of co-operative compliance.
Tetrosyl Group fall under the Senior Accounting Officer regime and have a dedicated customer compliance officer (CCM) appointed with HMRCE. This allows a clear channel of communication to facilitate the Groups transparent approach to working with HMRCE.
A PDF version of our Tax Strategy is available for download here.