Task Risk Strategy

Introduction

Erwin Hymer Group Holdings UK Limited (EHG UK) and its subsidiaries considers the following in managing its tax strategy: Compliance with all regulatory and compliance reporting; review, control and management of key risks; business partnering with key advisors and integrity in tax reporting and disclosures. The company’s directors work with the ultimate parent company, Erwin Hymer Group AG & Co KG, and its directors to determine EHG UK’s tax management strategy.

EHG UK endeavours to pay the amount of tax legally due in accordance with laws set by governments. EHG UK only enters into transactions which would be fully justifiable should they become public, although it does not consider it appropriate to publish the details of such transactions.

Risk Management and Governance

Tax risk is managed by ensuring accounting records are maintained which support all technical and legal requirements for recording and establishing any tax liabilities and assets.

EHG UK works with external and professional advisors ensure compliance with all relevant legal and accounting requirements. The company adopts a position of openness, honesty, integrity and transparency in any dealings with the tax authorities and other relevant bodies.

The Finance Director works with suitably qualified professional advisors to ensure EHG UK complies with all tax regulations and disclosure requirements in any country in which it operates.

This approach requires that:

• The company submits all returns by their due dates
• Information disclosed can be supported by accounting records and documentation
• The company monitors changes in tax law and practice relevant to the company

Tax Planning

EHG UK takes a commercial approach to its business decisions. Investment and trading decisions consider any implications of tax law. Decisions are made on a commercial basis with any tax liability arising accounted for accordingly. Decisions are not made with a view to evading future tax liabilities.

Risk levels

EHG UK maintains accounting records to substantiate and avoid doubt regarding tax. The company seeks to ensure compliance with tax law and adopts a reasonable level of prudence in its interpretation of tax law.

Dealings with tax authorities

The company’s aim is to maintain professional open and honest relationships with tax authorities and related third parties.

The accounting function manages the relationship with the tax authorities with the aim of minimising the risk of challenge or dispute regarding tax matters. The accounting function will participate in any tax authority enquiry, audit or enquiry together with external professional advice.

The company’s policy is to be transparent and proactive in all dealings with tax authorities.

November 2023
(next review – November 2024)