This document sets out the UK group Tax Strategy of An Post.
The Board of Directors of each of the UK group companies are responsible for ensuring there is an appropriate framework for the implementation of the Tax Strategy and oversight of the identification and management of tax risk. These Boards maintain responsibility for implementing new controls where material tax risks are identified. The Tax Strategy and policies are reviewed on an ongoing basis by the Boards.
The Boards’ objectives are to support the implementation of the Tax Strategy in order to meet the following core tax objectives:
- Implementing and maintaining controls and procedures relating to all taxes;
- Ensure compliance with all legal requirements and to make all appropriate tax returns and tax payments within deadlines;
- Forecasting and planning tax cash payments accurately;
- Seek to utilise available tax reliefs and incentives where available in a manner which is consistent with the government’s policy objectives;
- Ensuring that any transactions undertaken to grow the UK group are effected tax efficiently in accordance with all relevant UK tax law and legislation;
- Provide support to those employees who have responsibilities with regards to tax; and
- Consider and manage tax risks in order to maintain a strong reputation and brand.
Risk management and governance arrangements
The Boards of the UK group companies are committed to ensuring that their tax affairs are open, transparent and compliant with tax legislation.
The UK group companies’ internal structures are set up to ensure:
- The Boards understand the importance of tax compliance, and how it is achieved;
- There is a constant dialogue between the Boards and those individuals tasked with the operation of the finance and tax function; and
- The UK Boards portray a positive view towards tax compliance and the importance of meeting its obligations.
Relationship with HMRC
An important part of our Tax Strategy and policies is the maintenance and development of a strong, proactive working relationship with HM Revenue & Customs (“HMRC”). The UK group companies are committed to the principles of openness and transparency in its approach to dealing with HMRC.