This document sets out the tax strategy of Solai Holdings Limited and it’s UK subsidiary companies (“the Group”) for the year ending 31st March 2019.
It will be reviewed periodically and updated as applicable. The Group business is diversified into various sectors. These business activities generate a variety of
taxes including corporate taxes, property related taxes and employment taxes. The Group collects employee taxes and VAT.
Tax Strategy Ownership
The tax strategy is approved by the Board each year and owned by the Board.
The Senior Accounting Officer is responsible for ensuring that policies and procedures are in place to support the tax strategy.
Tax Strategy
The Group is committed to a tax strategy that is consistent with the following objectives:-
Governance and Risk Management
The Board is responsible for the management of tax risk with delegation to the Senior Accounting Officer for the appropriate accounting processes and controls. The Group seeks to reduce the level of tax risk by having regular discussions with external advisors so that any identified risks and opportunities are addressed to ensure compliance with the Group tax strategy. Further, external auditors provide an opinion on the annual accounts which includes tax amounts and disclosures.
Compliance
The Group aims for the compliance to be timely and accurate and to include sufficient detail to enable the Revenue Authorities to form an accurate view of the Group’s affairs.
Dealing with HMRC
The Group endeavours to maintain an open and honest dialogue with the HMRC disclosing all relevant facts and circumstances in a timely manner. Our aim is to obtain certainty on tax issues wherever possible by way of proactive discussions.