Tax strategy for the J R Rix & Sons Limited Group of Companies is set by the Board of Directors of J R Rix & Sons Limited. It sets out the Rix Group’s policy and approach to conducting its tax affairs and dealing with tax risk and is made available to all the Group’s stakeholders. The document is periodically reviewed and any amendments approved by the J R Rix & Sons Limited Board of Directors. The document is effective for the year ending 31 December 2017 and will remain in effect until any amendments are approved by the Board of Directors.
The accounting team, under the Group Finance Director, works within our businesses to ensure that:
1. the strategy is adopted and followed consistently across the Group, with clear lines of responsibility and accountability;
2. there is alignment of the strategy with the Rix Group’s overall approach to corporate governance and risk management; and
3. J R Rix & Sons Limited pays the correct amount of tax required of it as determined by law and regulation.
This tax strategy is made publicly available on the Rix website in order to allow external stakeholders to understand the Group’s approach to tax. The strategy is compliant with the UK tax strategy publication requirement set out in Part 2 of Schedule 19 FA 2016.
Tax Strategy Statement
The J R Rix & Sons Limited Group tax strategy is aligned with the overall business strategy and approach to corporate governance and risk management. The tax strategy relates to the tax risk management framework, how risk is assessed, how management controls operations and how they are monitored. The Group Finance Director is responsible for implementing this strategy. We aim to ensure that the business minimises its exposure to tax risk. It is of primary importance that we pay the correct amount of tax at the right time, under all relevant laws and regulations. In order to do this, we operate an effective tax control framework to identify key tax risks and to manage those risks through appropriately designed and operated controls. We will work with the business in order to claim any appropriate tax incentives that are available and which are aligned with our business model. The Group may consider different tax outcomes when considering how to structure commercially motivated transactions, but does not undertake aggressive tax planning for the purpose of tax avoidance. We understand the importance of corporations not wilfully engaging in tax schemes that go against the intention of legislative authority.
As an organisation, we aim to be honest, fair and truthful in all of our dealings and those principles of integrity are reflected in our relationship with the tax authority.
The Group’s tax planning is based upon openness and transparency in all aspects of tax reporting and compliance. This strategy applies to the compliance, payment and reporting of all taxes borne and collected by J R Rix & Sons Limited, principally corporation tax, indirect and employment taxes.
The Rix Group aims to engage in full, open and early dialogue with HMRC to discuss tax planning, strategy, risks and significant transactions, to make fair, accurate and timely disclosure in correspondence and returns and to respond to queries and information requests in a timely fashion. All dealings with HMRC will be conducted in a collaborative, courteous and timely manner.