UK Tax Strategy for the UK subsidiaries of The HAVI Group LP
HAVI is a global, privately owned company focused on innovating, optimizing and managing the supply chains of leading brands. Offering services in marketing analytics, packaging, supply chain management and logistics, HAVI partners with companies to address challenges big and small across the supply chain, from commodity to customer.
This strategy applies to the UK subsidiaries1 of The HAVI Group LP in respect of the financial year ending 31 December 2019. The publication of this UK tax strategy statement is regarded as satisfying the UK statutory obligation under Paragraph 16(2), Schedule 19, Finance Act 2016.
Our approach to tax risk management and governance
The HAVI Group LP is committed to observing all applicable laws, rules, and regulations in meeting our tax compliance and reporting responsibilities in all countries we operate.
Accountability for the UK tax strategy rests with the UK Board along with the overall stewardship of our UK risk management systems and internal control environment. The Director of Global Tax is responsible for the management of the tax affairs of the Group and is fully supported in this duty by Senior Management.
The Group manages tax risk by proactively seeking to identify, evaluate, manage, and monitor tax risks to ensure they remain in line with the Group's tax policies.
Our attitude towards tax planning
In structuring our commercial activities, we will consider tax laws (amongst many items) with a view of maximizing the value for our shareholders with careful consideration of potential financial, operational and reputational risks.
This tax policy is aligned with the overall Group's ethics policy and is approved by Senior Management.
Professional opinions are sought as required from reputable independent external advisors particularly in relation to complex tax law or where areas of uncertainty arise in the interpretation of tax laws.
The level of tax risk we are prepared to accept
The UK entities do not have defined levels of acceptable tax risk, but as with other risks, tax is managed within the overall risk framework and risk appetite of the Group. This framework is structured to deliver a level of governance and oversight which is consistent with our risk appetite.
We seek to balance shareholders’ interests for sustained economic value creation with ensuring that any arrangements comply with current tax legislation.
Our approach to dealings with HMRC
We shall be open and transparent with HMRC about our tax affairs and provide all relevant information that is necessary in a timely manner.
1The UK subsidiaries of the HAVI Group LP include: HAVI Global Solutions Europe Ltd, The Marketing Store Worldwide (Europe) Limited and S.T.I. (U.K.) Limited.
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