We understand the impact that our business can have on a wide range of stakeholders and we strongly believe that our attitude towards responsible business practice is one of the many reasons why people want to work for us, and work with us. In our commitment to maintaining our brand It is paramount to us that our policies and wider business objectives are adhered to. Therefore, all transactions undertaken should have a primary business purpose and commercial rationale. Whilst we may consider alternative tax outcomes, any approach taken should not produce a tax result that disproportionately benefits the Group compared to the primary commercial intentions of the transaction.
Our business contains a passionate leadership team whose purpose is to ensure Sertec is run efficiently and effectively and for the good of our customers, our partners and our people. Tax risks must be proactively managed in line with our commitment to protect our brand, and we are committed to ensuring that we are compliant in our operations. Tax is considered across the Group to deliver ongoing compliance whilst formalisation of tax processes, and implementation of appropriate policies and procedures, is ongoing. This aims to ensure that effective controls are in place that identify and mitigate relevant tax risks and also aim to allow us to meet our obligations under the Senior Accounting Officer (“SAO”) regime.
Our values of teamwork, empowering our people to drive our business and encouraging effective two-way communication throughout our operations are key in enabling real-time consideration of tax risks and for finance and tax professionals to support the business in all of it’s activities. Where necessary, we will utilise external tax advice and encourage employees to seek out professional support in relation to tax so that they have the right skills and knowledge to perform their role. This will support commercial decision making and ensure future compliance which is critical during a period of growth for the Group.
In line with our recognition of our corporate and social responsibilities we co-operate fully and engage in open and transparent dialogue with all relevant tax authorities. This builds trust and confidence in our brand and operations, whilst ensuring we meet our statutory and legislative tax requirements. We will seek guidance from relevant tax authorities where any significant and uncertain tax positions are identified by the Group. The Group’s nominated SAO is responsible for leading our engagement with HMRC and ensuring that the Group meets it’s requirements under the SAO regime.
For further information on our Tax Strategy please click the link Sertec – Tax Strategy