Group Tax Strategy
This tax policy applies to Rebound Technology Group Holdings Limited and all incorporated entities in its group (“the Group”). It applies for the financial year ending 31 December 2022 and all subsequent years until superseded.
This document sets out our UK tax policy and details the Group’s approach to compliance with tax law and practice in the UK.
This document has been approved by the Board of Directors of the Company (“the Board”) and will be reviewed annually.
It is published in compliance with the requirement(s) of paragraphs 16(2) of Schedule 19 to the Finance Act 2016.
This tax strategy document is the first to be published by the Group.
Our approach to risk management and governance arrangements
We are a leading provider of wholesale electronic equipment and parts and sell our products internationally.
We are a responsible taxpayer that aims to comply with all relevant tax laws and regulations. The Board is responsible for determining our approach to tax with the Chief Financial Officer having specific responsibility for tax matters. Day-to-day operational responsibility for our tax affairs is delegated to our Commercial Director with the support of professional advisers, where required.
We are committed to managing our tax affairs in a manner compliant with tax legislation to ensure we report and pay the right amount of tax, at the right time. We recognise that, with ever-increasing complexity in the legislation, this requires a pro-active approach to tax management. We maintain adequate financial systems, processes, and control to ensure that all tax relevant data is collected for tax reporting.
Our guiding principles for tax are:
- to comply with all applicable tax laws and regulations in the UK and internationally, ensuring returns and payments are made on time and seeking advice where necessary;
- to make use of tax reliefs which are intended to apply to the commercial activities we undertake.We do not undertake any tax planning which we consider would adversely impact our reputation or relationship with HMRC; and
- to adopt an open, honest, and professional approach in our dealings with HMRC.
Our attitude towards tax planning
The Group’s tax planning is driven by the commercial needs of the business and anticipated future development. Where alternative routes exist to achieve the same commercial results, the most tax efficient approach in compliance with all relevant laws will be followed.
In structuring our commercial activities, we will consider – among other factors – the tax laws of the countries in which we operate, with a view to maximising value on a sustainable basis e.g., by taking steps to reduce the risk of double taxation. We do not undertake any tax planning involving contrived or artificial transactions or which does not reflect the economic substance of the Group’s commercial activity.
Our approach to tax risks
We seek to apply the law correctly to all our transactions and, in so doing, strive to minimise our tax risk. We recognise that tax legislation can be complex and sometimes subject to interpretation. We will, therefore, take appropriate independent advice where uncertainty arises to reduce any potential risk as far as possible.
Our relationship with HMRC
We adopt a transparent, cooperative, and professional working relationship with HMRC. We are committed to making full and accurate disclosures in tax returns and correspondence with HMRC.
Whilst we will not take positions on tax matters that may create reputational risk or jeopardise our good standing with taxing authorities, we are however prepared to litigate where we disagree with a ruling or decision of a tax authority, having always first sought to resolve any disputed matters through active and transparent discussion.
27th July 2023