Interpath UK Tax Strategy as of 31 January 2023
Scope
Interpath Group Ltd is a UK tax resident and Jersey incorporated limited company. This document applies to and, sets out the strategic tax objectives of, Interpath Group Ltd and the group of companies headed by it in accordance with paragraph 19 of Schedule 19 to the Finance Act 2016. A list of the entities to which it applies is set out below. In this strategy, references to ‘Interpath’ or ‘the group’ are to all these entities.
This strategy was published on 8 February 2023 and Interpath regards this publication as complying with its duty under paragraph 19(2) Schedule 19 Finance Act 2016 in respect of its financial year ending on 31 March 2023.
References to ‘UK taxation’ are to the taxes and duties set out in paragraph 15(1) of that Schedule which include, without limitation, income tax, corporation tax, PAYE, NIC, VAT, diverted profits tax, insurance premium tax, stamp duty land tax, stamp duty reserve tax and customs duties. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which Interpath has legal responsibilities.
This strategy covers Interpath’s approach to arranging its own tax affairs and dealing with tax risk. It does not deal with Interpath’s approach to providing tax advice to clients in the course of professional activities.
Aim
Interpath is committed to full compliance with all statutory obligations and full disclosure to tax authorities. Its tax affairs are managed in a way which takes into account its wider reputation in line with its overall high standards of governance.
Risk management and governance
Interpath is committed to adopting appropriate governance to control the types of transactions the group enters into and to comply with all relevant laws and regulations.
Ultimate responsibility and approval of Interpath’s tax strategy and compliance with tax laws rests with the boards of each of the companies listed below. References to the ‘Board’ are to the board of each of those entities.
The Board ensures that Interpath’s tax strategy is one of the factors considered in all investments and significant business decisions taken.
The Chief Financial Officer (‘CFO’) is the Board member with executive responsibility for tax matters who ensures the company establishes and maintains appropriate tax compliance arrangements. The CFO reports to the Board on Interpath’s tax affairs and risks during the year.
Interpath’s tax risk assessment internal control processes form part of the group’s financial reporting system and are designed to make sure that guidelines and procedures are current and comply with relevant tax laws.
Day-to-day management of Interpath’s tax affairs is delegated to the finance, payroll and tax functions who are appropriately qualified and engage reputable external advisers where needed. Processes relating to different taxes are allocated to appropriate process owners within these internal teams, who carry out a review of activities and processes to identify key risks and ensure mitigating controls are in place. These key risks are monitored for business and legislative changes which may impact them and changes to processes or controls are made when required.
Appropriate training is carried out for staff who manage or process matters which have tax implications. Assistance is received from Interpath’s tax practice and external advisers where appropriate, who adhere to the principles and standards in the Professional Conduct in Relation to Taxation.
Tax planning
Interpath has a low-risk approach to tax planning and aims to meet all legal obligations, paying the correct amount of tax on time.
The group does not undertake tax planning to achieve artificial results that are inconsistent with commercial reality, the underlying economic consequences of the transactions or our understanding of the intentions of Parliament, nor which could be contrary to anti-abuse legislation. Interpath aims to comply with all domestic and international tax laws as well as standards such as OECD guidelines on the arm’s length principle.
UK tax risk
Interpath’s tax contributions include those borne by the business including employers’ national insurance, corporation tax, business rates and property taxes, and amounts collected on behalf of the exchequer, such as employees’ national insurance, employment tax and VAT.
Interpath’s employees are committed to acting with integrity and seeking to ensure that all taxes are correctly accounted for, to making fair, accurate and timely disclosure to relevant tax authorities in correspondence and returns, and to responding to queries and information requests from relevant tax authorities in a timely fashion. Senior personnel with the appropriate skills and experience are involved in key tax decisions.
Relationship with tax authorities
Interpath maintains a transparent relationship with HMRC, engaging in open and constructive dialogue where possible in order to provide clarity on relevant tax issues. Interpath will seek to resolve issues, where possible, before tax returns are filed.
List of UK group entities covered by this Tax Strategy
Interpath Group Ltd
Interpath Midco Ltd
Interpath Holdings Ltd
Interpath Ltd
Interpath International Ltd
Interpath Advisory Ltd
Interpath (IP) Ltd
Interpath (Ireland) Ltd, Northern Irish branch
