Tax Risk Management Strategy

Extentia Group Limited (“the Group”) is a large, UK-based business, operating via a number of separate subsidiaries that provide a broad based range of specialist end to end property support and fit-out services.

This document provides an overview of the Group’s approach to tax risk management and planning – our Tax Strategy – and is published to meet our requirements under Schedule 19 of the UK Finance Act 2016 in respect of all UK entities in the Group.

The Board of Directors is responsible for setting and monitoring the Tax Strategy. The finance team within the Group, led by the Group’s Chief Financial Officer (‘CFO’), are accountable to the Board for the implementation of the Tax Strategy and the management of tax and related risk.

This document has been approved by the board of directors for the period ended 30 June 2019 and will be reviewed and where necessary, updated, on a periodic basis.


Approach to Tax

We are committed to paying all the taxes that we owe in accordance with all tax laws that apply to our operations.

We will fulfill our commitment to paying the appropriate taxes that we owe by seeking to pay the right amount of tax (but no more), at the right rate, in the right place and at the right time.

The Group will not undertake transactions that would require notification to HM Revenue & Customs under the Disclosure of Tax Avoidance Schemes Regulations or participate in any arrangement to which it might be reasonable anticipated that the UK’s General Anti-Abuse Rule might apply.

Our accounts are prepared in compliance with this policy and will seek to provide all that information that users, including HM Revenue & Customs, might need to properly appraise our tax position.


Governance Arrangements and Management of Tax

Establishing a compliant culture begins with the direction set by the Board. The involvement of the Board in approving the Group’s business strategies, which includes the Tax Strategy, combined with appropriate oversight of tax matters by the CFO, ensures the working environment within the Group reflects the Group’s integrity, ethical values and competence.

The CFO also has the role of Senior Accounting Officer (‘SAO’) and is required to have taken reasonable steps to ensure that each trading company has established and maintained appropriate tax accounting arrangements and that appropriate monitoring is in place over those accounting arrangements.

The Group finance team, overseen by the CFO, are responsible for day to day tax matters, operating in accordance with the Group’s code of conduct. They ensure that appropriate controls are in place throughout the Group in order to maintain accurate accounting records and to ensure that the correct tax is paid. The Group has well-established processes in place which are performed by employees with the appropriate levels of experience and knowledge.


Attitude towards tax planning

The Group does not enter into any transactions solely to take advantage of tax opportunities. All transactions are based on the commercial objectives of the Group. The Group will however utilise available incentives, reliefs and exemptions, as well as make interpretations of tax law, in line with, and in the spirit of, tax legislation, in order to minimise tax paid.


Relationship with HMRC

We are committed to maintaining an open and transparent relationship with HMRC based on collaboration and trust.

Where we are unclear on the interpretation of legislation for tax purposes, we engage with professional advisors to clarify the correct treatment, and where appropriate, consider engagement with tax authorities to gain certainty on the approach taken.

When submitting tax computations and returns to HMRC, the Group discloses all relevant facts and identifies any transactions or issues where it considers that there is potential for the tax treatment to be uncertain. Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.

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