We will only engage in tax planning that directly supports our commercial activities. Thus, any tax planning undertaken will have commercial and economic substance and will have regard to the Group’s wider strategy. We will seek to minimise uncertainty, risk or disputes and we will engage external advisors as appropriate to achieve this. As such our appetite for risk is low in this regard.
We do make use of those tax incentives and exemptions intentionally provided in law, for example capital allowances and credits associated with research and development expenditure.
The Group does not tolerate any of its associates (employees, agents, or suppliers) undertaking tax evasion themselves or taking action to facilitate tax evasion by another person whilst acting in that capacity. These principles are embedded into the Group’s Tax Policy.