This document, approved by the Board of Directors of the Healthcare at Home Group (the “Group”), sets out the Group’s approach to conducting its tax affairs and dealing with tax risks. It is effective for the period ending 31 March 2021, and will remain in effect until any amendments are approved by the Board.
There are five key areas which the Group is focussed upon:
- Compliance with the law
- Strategy and planning
- Maximising value
- Risk management
- Relations with tax authorities
Responsibility and accountability for the Group’s tax affairs is clearly defined within the Group and overseen by the Group’s Board.
Compliance with the law
A primary responsibility of the Group is to ensure compliance with all applicable tax laws, rules, regulations, and reporting and disclosure requirements in the jurisdictions in which it operates. The Group will ensure that it has robust controls and processes in place for providing the necessary information for reporting and disclosure to relevant stakeholders
Professional diligence and care is applied to the Group’s management of all risks associated with tax matters to evaluate those risks. Where there is uncertainty as to the application or interpretation of tax law, appropriate advice is taken from third party advisers.
Strategy and planning
The Group’s tax planning aims to support the commercial needs of the business by ensuring that its affairs are carried out in the most tax efficient manner, whilst remaining compliant with all relevant laws. The tax function provides appropriate input into commercial decision making processes to ensure clear understanding of the tax consequences of any decisions made. Where required, external advice is sought to support the Group’s decision making process.
Tax strategy is reviewed on an on-going basis by the Group’s Board. The Group’s tax status is reported regularly through the Group’s Chief Financial Officer.
Whilst seeking to minimise tax liabilities, the Group’s policy is not to take an aggressive interpretation of tax legislation or use artificial tax avoidance schemes.
Managing the Group’s tax affairs is a complex process across many areas of the business, and as such, effective risk management is paramount for the Group and underpins the strategy for continued growth. The Group’s appetite for risk is a carefully calibrated part of the business model aligned to its strategic and corporate objectives. Eliminating tax risks entirely is impossible as there will inevitably be risks of error or omission within those processes (i.e. tax risks) which may result in the incorrect application of tax rules or calculation of VAT and tax returns. The identified tax risks are assessed on a case by case basis, dependent on the likelihood of occurrence and scale of impact of each risk.
Elations with tax authorities
The Group strives to maintain relationships with tax authorities in all relevant jurisdictions, sometimes with the aid of external advisors. The Group is committed to working collaboratively with HMRC, through open and transparent dialogue to ensure it is compliant with all of its compliance and filing obligations. The Group has a proactive working relationship with HMRC and will continue to engage with HMRC on a real-time basis.