Group tax strategy
 

Telecom Plus PLC – Group Tax Strategy
 

This strategy applies to Telecom Plus PLC and all entities within its group.

We comply with all relevant tax laws, rules, regulations and practices in the UK and in the countries in which we have a presence. Compliance for us means paying the right amount of tax in the right place at the right time and involves disclosing all relevant facts and circumstances to the tax authorities.  

Tax risk management
 

The Board is ultimately accountable for managing tax risk. On a day-to-day basis, tax risk is managed by the finance function and overseen by the CFO, who updates the Board on such risks as per a documented tax policy which is approved by the Board. Given the scale of our business and volume of tax obligations, risks will inevitably arise from time to time in relation to the interpretation of tax law and nature of our compliance arrangements. We proactively seek to identify, evaluate, manage and monitor these risks to ensure they remain in line with the group’s risk appetite. Where there is significant uncertainty or complexity in relation to a risk, external advice may be sought. 

We do not tolerate tax evasion, nor do we tolerate the facilitation of tax evasion by any person(s) acting on our behalf.

Our attitude to tax planning
 

In structuring our commercial activities, we will consider – among other factors – relevant tax law and practice with a view to maximising value on a sustainable basis for our shareholders. Any tax planning undertaken will have commercial and economic substance and will have regard to the potential impact on our reputation and broader goals. We have a low appetite for tax risk and we will not undertake planning that is contrived or artificial. We will, however, seek to claim reliefs and incentives where available to us.

Relationship with HMRC
 

We engage with HMRC and other tax authorities with honesty, integrity, respect and fairness and in a spirit of co-operative compliance. Whilst we will not take positions on tax matters that may create reputational risk or jeopardise our good standing with taxing authorities, we are however prepared to litigate where we disagree with a ruling or decision of a tax authority, having always first sought to resolve any disputed matters through active and transparent discussion.

This strategy is approved, owned and overseen by the Board. We consider the publication of this document to fulfil our obligations under paragraph 16(2) of Schedule 19 of Finance Act 2016, for the financial year ending 31 March 2025.