At Hyp Group, our tax strategy emphasizes transparency, compliance, and ethical responsibility. We aim to ensure that our tax practices support our business and stakeholders sustainably and ethically.
Risk Management and Governance:
Accountability and Oversight: The Board oversees tax governance, supported by finance directors and external advisers to ensure robust risk management.
Qualified Resources: We rely on skilled professionals and advisors to navigate complex tax regulations and ensure compliance.
Efficient Processes: Our end-to-end processes ensure accurate tax filings and timely communication with tax authorities.
Tax Planning:
Ethical Practices: We avoid aggressive tax planning. Instead, we use available tax reliefs in the spirit intended by legislation, ensuring our activities remain lawful and ethical.
Compliance: All tax obligations are met diligently, with a focus on accuracy and timeliness.
Attitude Towards Risk:
Conservative Approach: We maintain a low-risk appetite in tax matters, avoiding strategies that could expose us to significant risk or reputational damage.
Regulatory Adherence: Ensuring all our transactions comply with current tax laws and regulations, mitigating potential risks.
Relationship with HMRC:
- Transparency and Cooperation: Maintaining an open, honest, and professional relationship with HMRC is pivotal to our tax strategy. We engage in regular, constructive dialogue with HMRC, ensuring that we promptly address any tax issues or queries. Our approach is to be fully transparent in all our dealings, providing HMRC with full and accurate disclosures regarding our tax affairs.
- Proactive Engagement: We proactively engage with HMRC to pre-emptively resolve potential issues. This includes participating in consultations and staying informed about changes in tax laws and regulations that may impact our business.
- Professional Advice: Engaging with professional advisers ensures that our tax practices are compliant and up-to-date with the latest legislation. We rely on expert advice to navigate complex tax matters and to ensure that our tax filings are accurate and timely.