LSH UK Tax Policy
LSH Auto UK Limited and LSH Auto Properties (UK) Limited (collectively "LSH UK") regard this policy as complying with their duties under paragraph 22(2) of Schedule 19 Finance Act 2016. This policy applies to LSH UK for the financial year ended 31 December 2017.
1. Commitment to compliance
We are committed to compliance with tax law and practice. That means paying the appropriate amount of tax in the right place at the right time. It involves disclosing all relevant facts and circumstances to the tax authorities while claiming reliefs and incentives where available. We aim to file all our tax returns in a timely manner.
2. Tax planning
In structuring our business activities, we take into account relevant tax laws. Any structuring that is undertaken will be consistent with commercial and economic substance and will take into account the potential impact on our reputation and our strategy as a responsible business. We will not put in place any arrangements that are contrived or artificial.
3. Attitude towards tax risk
We consider that the business has a low risk attitude in relation to tax and seeks to minimise the risk of uncertainty or disputes. The business engages professional advisors to provide compliance advice on both direct and indirect tax matters, where considered appropriate.
4. Risk management
We seek to identify, evaluate, monitor and manage risks to ensure we comply in full with our legal obligations and our strategy of being a responsible business. Where there is significant uncertainty or complexity in relation to a risk, we take appropriate professional advice and/or discuss the matter with the relevant tax authority.
5. Dealings with HMRC
We seek to engage with HMRC openly and honestly and in a spirit of co-operative compliance. We seek to have a relationship with HMRC that is very positive and consultative in its approach. We fully intend to resolve any differences through transparent discussion.
The governance of our arrangements in relation to UK taxation is overseen by the CFO, supported by professional advisors. This arrangement is approved and under the control of directors and our senior management team (of which our CFO is a member).
Version1 - December 2017