This strategy applies to all entities within the Search Group for the financial year ended 31 December 2019 and is written in compliance with Schedule 19 of the Finance Act 2016.
The Group’s Chief Financial Officer has overall responsibility for tax as the Group’s Senior Accounting Officer however responsibility and accountability is also overseen by the board of directors.
The Search Group is committed to:
- Complying with all applicable laws, regulations and disclosure requirements
- Applying diligence and care in the management of tax risks
- Ensuring that the tax strategy is consistent with the Group’s overall strategy
- Maintaining an open, transparent relationship with the tax authorities.
Managing tax risks
The Group controls and manages tax risks through the appropriate policies, internal controls and procedures. A tax risk register is maintained which set out the tax controls across the Group.
All taxes are managed in house by the finance team and the experience and qualifications of the team ensure that tax risks are monitored through all areas of finance. The Group also hold regular meetings with external tax advisors to ensure that we are up to date with all legislative changes and to ensure compliance with best practice.
The tax planning of the Group aims to support the commercial requirements of the business by ensuring that the Group operates in the most tax efficient manner, while remaining compliant with all relevant UK laws. Due consideration is always given to the tax consequences of commercial decisions made. When required, external advice may be sought from the Group’s advisors to support the Group’s decision making process.
Working with HMRC
The Group strives to maintain an open and honest relationship with HMRC and will work collaboratively and proactively with HMRC to ensure compliance with all legislative tax requirements and filing obligations.
Signed on behalf of the Search Group