Vet Partners Group Limited UK Tax Strategy
Year ended 30 June 2023
VetPartners Group Limited is the parent company of the VetPartners group.
Our parent company has its head office in York, United Kingdom. Established in October 2015, VetPartners is made up of some of the UK’s most respected and trusted small animal, equine, mixed and farm practices and production animal health businesses.
In accordance with Schedule 19 Finance Act 2016, the purpose of this document is to set out the UK Tax Strategy for the year ended 30 June 2023, specifically;
- The approach of the Group to risk management and governance arrangements in relation to UK taxation
- The attitude of the Group towards tax planning and the level of risk in relation to UK taxation that the group is prepared to accept
- The approach of the Group towards its dealings with HMRC
References to UK tax are to the taxes and duties set out in paragraph 15(1) of Schedule 19 which includes Income Tax, Corporate Tax, PAYE, NIC, VAT and Stamp Duty Land Tax.
For the avoidance of doubt, this strategy applies to VetPartners Group Limited and all the UK entities within its group including its immediate UK parent undertaking (‘the Group’).
The overarching focus of VetPartners’ Tax Strategy is to ensure that the Group remains compliant with the applicable tax laws in the jurisdictions in which it operates. The submission of tax filings and remittance of tax liabilities forms a key part of this strategy.
- Approach of the Group to Risk Management and Governance Arrangements
The ultimate responsibility for the Group’s tax strategy rests with the Board of Directors.
The CFO is responsible for the oversight of the Group’s tax strategy and policies.
Tax planning and compliance is the responsibility of the Finance Team.
The Finance Team is comprised of staff with the appropriate and relevant professional qualifications.
It is the responsibility of the Finance Team to ensure that it has the resources and processes in place to identify and meet the local filing requirements and respond to any related audit issues as may arise.
The Group actively seeks to identify, manage and minimise any tax risks through the following;
- Employment of appropriately qualified and trained staff
- Operation of internal control systems
- Use of external advisers where necessary
Regular meetings are held between the Head of Tax & Treasury, the Group Financial Controller and the CFO during which tax-related matters are discussed.
The Senior Management Team, and the wider Board, are updated on key tax matters by the CFO as they arise during the monthly Board meeting.
Through this open and regular communication, the importance of tax compliance and the management and minimisation of tax risk are highlighted.
The Group’s compliance with the Senior Accounting Officer contributes toward the approach to the identification, management, and minimisation of tax risks.
- Attitude of the Group towards Tax Planning and level of Risk
The attitude to tax planning of the Group is to ensure that the Group complies efficiently with all legal requirements and that any planning undertaken aligns to the overall commercial activity of the Group.
Understanding the business operations is the key objective in order to manage tax risk. Through this understanding, the required compliance and tax reporting matters can be reviewed and analysed.
The relevant personnel from the Finance Team are involved in key transactions, issues, and strategies with key stakeholders in the business. In addition, external advisors are engaged in relation to complex or specialist areas of tax where additional expertise or clarification is required.
- Approach of the Group towards its dealings with HMRC
The Group is committed to maintaining and developing an open and positive relationship with HMRC.
The Group is committed to making appropriate disclosure of relevant tax issues through the submission of tax returns and in responding to information requests in a timely manner.
The Group adopts a co-operative approach to HMRC enquiries relating to current, future, or past tax risks.
Further, should any inadvertent errors be identified, the Group seeks to amend these as soon as reasonably possible.
If you require any further information, please contact VetPartners at firstname.lastname@example.org