This document, as approved by The Guild group’s statutory director and senior management, sets out its policy to dealing with its tax affairs and associated risks pursuant to its duty under Schedule 19 of the Finance Act 2016.
The Guild group, its Senior Accounting Officer and its advisers will review its tax strategy periodically and update this document accordingly. This tax strategy is effective for the year ending 30 April 2019.
The Guild group has operated since 1997, chiefly focusing on employment status compliance,with a focus on the Construction Industry Scheme, a tax regime specific to the construction industry. The Guild group operates exclusively in the UK.
Group Tax Policy
The Guild group conducts its tax affairs consistently with its core principles wherever it operates, to:
- Comply with all relevant laws, rules and regulations in good faith;
- Comply with all reporting and disclosure requirements in good faith;
- Apply due care and attention in the management of the procedures for dealing with all tax-related matters, and ensure that corporate governance is comprehensive and fit for purpose;
- Where appropriate, using incentives and reliefs to reduce the cost of conducting our business while ensuring that reliefs are not used for purposes which are knowingly contradictory to the intent of the legislation in question;
- Foster a constructive and transparent relationship with The Guild’s Customer Compliance Manager and HM Revenue and Customs generally;
The Guild’s Approach To Risk Management
Managing tax affairs is a complex process for any business and as such there will potentially be risks of error in the calculation of returns. The Guild group accordingly assesses potential tax risks on a case-by-case basis, in particular paying care and attention to the likelihood of a risk occurring and the scale of its potential impact on The Guild group, the legal and fiduciary duties of its staff and statutory director, and its corporate reputation. This approach allows The Guild group to manage risk proportionately and effectively.
The Guild group employs internal tax and legal advisers and also retains the services of a wide range of external professional advisers. Where there is uncertainty over the application and effect of any given tax law, The Guild group seeks specialist external advice to enable it to arrive at a well-reasoned conclusion.
It holds regular audits, conducted by external tax advisers, to assess its procedures and ensure robust compliance with the tax code.
Signed on behalf of The Guild group.
(Senior Accounting Officer)