Tax Strategy

Scope

This strategy applies to the group of companies headed by Raleigh Holdings Ltd in accordance with paragraphs 19 and 25 of Schedule 19 to the Finance Act 2016. A list of the entities to which it applies is set out below. In this strategy, references to ‘Raleigh’ or ‘the Group’ are intended to apply to all these entities. The strategy is being published in accordance with paragraph 16(4) of the Schedule.

This strategy applies from the date of publication until it is superseded. References to ‘UK Taxation’ are to the taxes and duties set out in paragraph 15(1) of the Schedule which include Income Tax, Corporation Tax, PAYE, NIC, VAT, Insurance Premium Tax and Stamp Duty Land Tax. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which the Group has legal responsibilities.

Aim

Raleigh is committed to full compliance with all statutory obligations and full disclosure to relevant tax authorities. The group’s tax affairs are managed in a way which takes into account the group’s wider corporate reputation in line with Raleigh’s overall high standards of governance.

Governance in relation to UK taxation

Ultimate responsibility for Raleigh’s tax strategy and compliance rests with the Board of Raleigh Holdings Ltd.

Day-to-day management of Raleigh’s tax affairs is delegated to the Head of Finance who is an appropriately qualified individual and works closely with the group’s tax advisers.

Risk management

Raleigh seeks to reduce the level of tax risk arising from its operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all processes which could materially affect its compliance with its tax obligations. Advice is sought from external advisers where appropriate.Attitude towards tax planning and level of risk

Raleigh manages risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax in full when it falls due.

Relationship with HMRC

Raleigh seeks to have a transparent and constructive relationship with HMRC.

Raleigh ensures that HMRC is kept aware of significant transactions and changes in the business and seeks to discuss any tax issues arising at an early stage. When submitting tax computations and returns to HMRC, Raleigh discloses all relevant facts and identifies any transactions or issues where it considers that there is potential for the tax treatment to be uncertain.

List of entities covered by this Tax Strategy