UTAX (UK) Ltd Tax Strategy statement
This Tax Strategy statement sets out the strategic tax values for UTAX (UK) Ltd for the period ending 31 March 2019.
Our ultimate parent company is Kyocera Corporation (registered in Japan) and we adopt their philosophy in both business and tax affairs; that is, “what is the right thing to do as a human being”. Our dealings with customers, suppliers and all external organisations are based on best practice. There are checks in place throughout the organisation to ensure that this policy is adhered to.
The strategy will be reviewed annually.
Tax risk management and governance
In operating our tax risk management and governance processes, UTAX (UK) Ltd has a low appetite towards tax risk. We do not have any tax arrangements in place. This policy is consistent with a low risk assessment. This is core to our business and reflects the entire group’s appetite to risk.
We are committed to full compliance with our tax obligations, paying the right amount of tax at the right time. External assistance is utilised as needed to ensure that these obligations are met.
Tax planning and tax risk
Business activity is the driving force in any decision. Tax planning is generally performed after a business decision is made. Therefore, tax planning will be consistent with the underlying commercial reality of business activity, while remaining compliant with all relevant UK tax legislation. Where there is ambiguity over interpretation of the tax law, we will take external advice as necessary.
Within the organisation we do not promote tax avoidance or aggressive tax planning arrangements. We do not locate our business activities in particular taxing jurisdictions or in particular structures for tax avoidance purposes, but rather to promote our core business objectives in conformance with our company philosophy.
Relationship with HMRC
Our relationship with HMRC is both open and transparent. We believe that information shared provides the necessary framework to ensure that we pay our tax obligations on a timely basis. Events in business move quickly, but we will enter into dialogue with HMRC when appropriate.
UTAX (UK) Ltd regards the publication of this document as satisfying its duty to comply with Paragraph 16(2), Schedule 19 of the UK Finance Act 2016.