VetPartners Group Limited is the parent company of the VetPartners group. Our parent company has its head office in York, United Kingdom. Established in November 2015, our group includes small animal, equine and farm animal practice. We provide centralised support tailored to individual practice requirements in areas such as operations, HR, finance, IT, purchasing and marketing.
In accordance with Schedule 19 Finance Act 2016, this document sets out the UK Tax Strategy for the year ended 30 June 2020, specifically;
• The approach of the Group to risk management and governance arrangements in relation to UK taxation
• The attitude of the Group towards tax planning and the level of risk in relation to UK taxation that the group is prepared to accept
• The approach of the Group towards its dealings with HMRC
For the avoidance of doubt, this strategy applies to VetPartners Group Limited and all the UK entities within its group including its immediate UK parent undertaking (‘the Group’).
References to UK tax are to the taxes and duties set out in paragraph 15(1) of Schedule 19 which includes Income Tax, Corporate Tax, PAYE, NIC, VAT and Stamp Duty Land Tax.
The overarching focus of VetPartners’ Tax Strategy is to ensure that the Group remains compliant with the relevant and applicable tax laws in the jurisdictions in which it operates. The submission of tax filings and remittance of tax liabilities forms a key part of this strategy.
1. Risk Management and Governance Arrangements
The ultimate responsibility for the Group’s tax strategy rests with the Board.
The CFO is responsible for the oversight of the Group’s tax strategy and policies.
Tax planning and compliance is the responsibility of the finance function.
The finance team is comprised of staff with the appropriate and relevant professional qualifications.
It is the responsibility of the finance function to ensure that it has the resources and processes in place to identify and meet the local filing requirements and respond to any related audit issues as may arise.
The Group actively seeks to identify, manage and minimise any tax risks through the following;
• Employment of appropriately qualified and trained staff
• Operation of internal control systems
• Use of external advisers where necessary
The Senior Management team (including the Chief Executive, Chief Operating Officer and Chief Financial Officer) are updated on tax matters as they arise during the monthly Board meeting. Through this open and regular communication, the importance of tax compliance and the management and minimisation of tax risk are highlighted.
The Group’s policies and procedures form the basis of the Tax Strategy and ensure that it remains compliant with the relevant tax legislation.
2. Attitude towards Tax Planning and level of Risk
The attitude to tax planning of the Group is to ensure that the Group complies efficiently with all legal requirements and that any planning undertaken aligns to the overall commercial activity of the Group.
Understanding the business operations is the key objective in order to manage tax risk. Through this understanding, the required compliance and tax reporting matters can be reviewed and analysed.
The relevant personnel from the finance function are involved in key transactions, issues and strategies with key stakeholders in the business. In addition, external advisors are engaged in relation to complex or specialist areas of tax where additional expertise or clarification is required.
3. Relationship with HMRC
The Group is committed to maintaining and developing an open and positive relationship with HMRC.
The Group is committed to making appropriate disclosure of relevant tax issues through the submission of tax returns and in responding to information requests in a timely manner.
The Group adopts a co-operative approach to HMRC enquiries relating to current, future or past tax risks.
Further, should any inadvertent errors be identified, the Group seeks to amend this as soon as reasonably possible.
If you require any further information, please do not hesitate to contact VetPartners at email@example.com