The tax strategy is published for the information of the interested stakeholders and to ensure that the Simec Group and its entities within UK also fulfils its responsibilities as set out in Part 2 of Schedule 19 FA 2016.
This strategy applies from the date of publication until it is superseded. References to ‘UK taxation’ are to the taxes and duties in the UK which include:
We are transparent about our approach to tax compliance, reporting and planning. Disclosures made are in accordance with the relevant domestic regulations and applicable reporting requirements. In order to maintain an acceptable low level of UK tax risk, the Group continually reviews and improves its procedures.
Wherever we operate, we seek to establish and maintain an open and constructive dialogue with tax authorities and other government bodies, based on the disclosure of all relevant facts and circumstances. In this dialogue, we seek to provide clarity and establish certainty on all relevant local tax components in advance.