Ecologic Designs Europe Limited
UK Tax Strategy
Introduction
This document outlines the tax strategy of Ecologic Designs Europe Limited (“the Company”) and its subsidiaries for the current financial year. Our commitment is to comply with all relevant tax laws and regulations in the United Kingdom while optimising tax efficiency and contributing to the overall economic development.
Governance
1. Responsibility:
The Company’s tax strategy is the responsibility of the Finance Department, overseen by the Chief Financial Officer. The Board of Directors is ultimately responsible for ensuring the effectiveness of the tax strategy.
2. Risk Management:
We actively identify, assess, and manage tax risks to ensure compliance with legal requirements and to avoid any unintended tax consequences.
Objectives
1. Compliance:
We are committed to fulfilling our legal obligations by accurately reporting our tax position and paying the correct amount of tax in a timely manner.
2. Efficiency:
We strive to optimise our tax position through legitimate means, ensuring that we benefit from available reliefs, incentives, and allowances to support the growth and sustainability of our business.
3. Transparency:
We maintain transparency in our dealings with tax authorities, providing all necessary information required to support our tax filings and responding promptly to queries.
Approach to Tax Planning
1. Alignment with Business Activities:
Our tax planning is aligned with our business activities, and we engage in tax planning to support legitimate commercial transactions.
2. External Advice:
We seek external tax advice when necessary to ensure our compliance with tax laws and regulations and to stay informed about changes in tax legislation that may impact our business.
Relationship with Tax Authorities
1. Open and Honest Communication:
We maintain an open and honest relationship with tax authorities, responding promptly to requests for information and engaging in regular dialogue to address any queries or concerns.
2. Collaboration:
We collaborate with tax authorities to resolve disputes promptly and professionally, with a view to achieving a fair and mutually agreeable resolution.
Tax Evasion and Facilitation
1. Zero Tolerance:
We have a zero-tolerance policy towards tax evasion and the facilitation of tax evasion. All employees are expected to act ethically and in compliance with our policies.
2. Training and Awareness:
We provide training and raise awareness among employees to ensure they understand the importance of compliance with tax laws and the consequences of non-compliance.
Conclusion
Ecologic Designs Europe Limited is committed to maintaining the highest standards of tax compliance and transparency. We will regularly review and update our tax strategy to align with changes in legislation and best practices, ensuring our continued commitment to responsible tax conduct.
Josh Hanvey
Managing Director, Ecologic Designs Europe LTD
4th March 2024