Group Tax Strategy
DC THOMSON & CO LTD GROUP TAX STRATEGY
FOR THE FINANCIAL YEAR TO 31 MARCH 2023
MANAGING OF TAX RISK
The Group has competent senior finance individuals who lead the local teams providing strong technical support. These individuals are kept up to date on tax issues by the in house tax function who in turn will seek further risk assurance from compliance advisors where appropriate.
Our people are actively encouraged to liaise on this basis and with HMRC at the earliest opportunity.
Tax policy and strategy is reviewed on an ongoing basis.
RELATIONSHIP WITH HMRC
The Group is open and transparent in its communications with HMRC.
There is regular direct contact with HMRC and through established relationships with our advisors.
Any uncertainly encountered on a tax transaction is promptly dealt with by making an advance approach to HMRC to clarify any such position.
We engage with HMRC and our financial and legal advisors to ensure that our tax is paid correctly and timely.
ATTITUDE TO TAX PLANNING
The Group does not undertake aggressive tax planning and instead uses statutory tax policy that is fully compliant within the spirit of the UK tax law.
We commit to report our tax affairs in the manner that reflects the economic reality which exists in the operation of our core trade.
The Group operates overseas with sufficient substance and specifically only in locations with fully established tax regimes. It complies with the legislation and regulations in the overseas jurisdictions.
This tax strategy is considered to comply under paragraph 16(2) of Schedule 19 of Finance Act 2016