Tax Strategy
R.J. WILKINSON HOLDINGS LIMITED
This tax strategy has been prepared and published in accordance with paragraph 16, Schedule 19, of the Finance Act 2016, on behalf of R.J. Wilkinson Holdings Ltd and its UK subsidiaries (“we” / “our” / “the UK Group”). We consider that this publication complies with our duty under the aforementioned paragraph in relation to the current financial year, being the year ended 31 March 2024. The publication will remain effective until any amendments are approved by the Board.
Commitment to Compliance
We intend to fulfil our tax obligations in accordance with the UK tax law and practice. Our commitment to compliance means that appropriate arrangements are in place to calculate accurately our tax liabilities so we can ensure we pay the right amount of tax in the right place at the right time. We disclose all relevant facts and circumstances to the tax authorities on a timely basis while claiming available reliefs and incentives as intended by Parliament relevant to our business activities. Tax risks are assessed when establishing operations in new markets and are monitored on an ongoing basis for changes in legislation. Our core business is UK property transactions, so Stamp Duty Land Tax is a key tax, calculations for these are completed by external specialists who have the appropriate training, along with internal expertise review to check the right amount is paid on time.
Tax matters impacting the group are reviewed regularly by group’s Finance Directors, with support from external tax advisors. In conjunction with the Financial Controllers across the Group, the Finance Directors ensure adequate controls are in place so that the correct amount of taxes are identified and paid on a timely basis.
We recognise the responsibility we have to deliver environmental and social benefits to our customers and the communities in which we operate, and we want to ensure that we pay the right amount of tax to secure the long term sustainability of the business.
Tax planning
Any tax planning undertaken will have commercial and economic substance and will consider the potential impact on our reputation and our values as a responsible business. We use best judgement in determining the appropriate course of action, and external advice may be sought. We will not put in place any arrangements that are contrived or artificial.
Risk Management and Governance
Tax risks and uncertainties will inevitably arise on occasion in relation to the interpretation of complex tax law and compliance obligations. We seek to identify, evaluate, manage, and monitor these risks to ensure we comply with our legal obligations and our commitment to being a responsible business. Where there is significant uncertainty or complexity in relation to a tax risk, external advice may be sought. We have a low appetite for tax risk, which can be defined as not undertaking any transactions involving tax that are not fully supported by commercial activities. Our customers care about whether the business pays its fair share of tax, resulting in a low level of acceptable risk.
Relationship with HMRC
We engage with HMRC, with honesty, integrity, respect, and fairness in a spirit of co-operative compliance. Where any tax law is unclear or subject to interpretation, we will engage with external tax advisors to ensure we remain compliant and to share our view with the tax authorities as applicable. If faced with disagreement with the tax authorities, we would aim to resolve disputes in a timely manner through the provision of full and accurate responses to enquiries and maintaining an open and honest dialogue.
