Glyn Hopkin Ltd.
Tax Strategy Statement
This statement sets out the strategy in relation to the tax affairs of Glyn Hopkin Ltd and all its group
Companies headed by Glyn Hopkin Holdings Limited (“the group”).
The strategy has been published in accordance with paragraph 16(4) of Schedule 19 to the Finance Act 2016. It has been approved by the board of directors and will be reviewed annually.
References to taxes include all forms of direct and indirect tax set out in paragraph 15(1) of Schedule 19, including corporation tax, income tax, national insurance contributions, VAT, and stamp duty land tax.
The group is committed to full compliance with all tax laws, and disclosure to all the relevant tax authorities.
It is the responsibility of the board of directors to ensure that appropriate tax procedures are followed, and that the group is compliant in all matters affecting tax. The Finance Director has overall responsibility for all tax matters.
Taxation work is carried out by suitably qualified external agents, who liaise with relevant internal staff, to ensure information is produced timely and accurately.
Managing Tax Risks
The group manages tax risks to ensure we are compliant with legal requirements in a manner which ensures payment of the right amount of tax. Any areas of non-compliance are quickly identified and the appropriate corrections are made.
Accounting, payroll systems and tax reporting packages utilised by the group are industry standard and are recognised by HMRC. Relevant employees are fully trained in reporting purpose and utilisation.
Professional advisors are engaged when it is necessary to do so, to assist with compliance or to advise on specific issues.
The Glyn Hopkin group adopts a low risk attitude to tax planning, which is in support of the commercial activities. The directors ensure that the group trades in a tax efficient manner, whilst remaining compliant with current legislation.
The group does not undertake any tax planning which involves the implementation of any schemes which are classified as tax avoidance, nor does it engage in any planning that is not related to commercial activities.
The group has an obligation to maximise tax exemptions and allowances for which specific provision is allowed with tax legislation.
Relationship with HMRC
The group seeks to adopt and maintain an open collaborative approach with HMRC, all returns and information requests are submitted in a timely manner.
Where there is uncertainty in relation to interpretation of tax laws, the group will commit to ensure any disputes are resolved at the earliest possible instance.
The group strives to ensure that HMRC is informed should there be any changes to the group’s operations which are likely to lead to issues with its tax position.