This document sets out the Group’s approach to conducting its tax affairs and dealing with tax risks for the year ending 31st December 2017.
The Citizen Group is committed to:
Citizen Machinery UK’s tax affairs are straight forward in their nature, and our strategy is handled at local management level.
Where Tax Risks are identified, the are assessed on a case by case basis, allowing the Group to arrive at well-reasoned conclusions on how each individual Risk should be managed. Where there is uncertainty in how the relevant tax law should be applied, external advice may be sought to support the Group’s decision making process.
When reviewing the Tax Risks associated with a specific decision or action, the Group ensures that the following are considered:
The Group has clearly defined lines of responsibility for its tax affairs, with decisions being taken in line with the Group’s tax authority thresholds, ensuring that they are taken at an appropriate level.
The Group’s tax planning aims to support the commercial needs of the business by ensuring that the companies affairs are carried out in the most tax efficient manner whilst remaining compliant with all relevant laws. The tax function is therefore involved in commercial decision making processes and provides appropriate input into business proposals to ensure a clear understanding of the tax consequences of any decisions made.
In cases where the tax guidance is unclear or the Group does not feel it has the necessary expert knowledge to assess the tax consequences adequately, external advice may be sought to support the Group’s decision making process.
The Group is committed to the principles of openness and transparency in its approach to dealing with HMRC, and in particular the Group commits to:
Ensure all interactions with HMRC are conducted in an open, collaborative and professional manner.
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