Perrys Group Tax Strategy

Tax Strategy – Updated September 2023

Perrys Group consists of a small number of limited companies registered in England. The companies operate in England in the motor trade. All profits are reported and taxed in the United Kingdom.

TAX STRATEGY AND PRINCIPLES

The Group’s tax strategy, approved by the Group Board of Directors (Board), is to sustainably minimise tax cost whilst complying with the law. In doing so the group ensures it acts in accordance with the following principles:

• We manage risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax.

• We seek to take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation.

• We only engage in tax planning that is aligned with commercial and economic activity and not enter into artificial arrangements that lack commercial purpose in order to secure a tax advantage.

• We have and foster an open, honest and constructive working relationship with the tax authorities.

• We are transparent with tax authorities about our tax affairs and provide all relevant information that is necessary for those authorities to review possible tax risks.

• Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.

MANAGEMENT AND ORGANISATION

The Board is ultimately responsible for setting the tax objectives. Non-routine items and exceptions are reported to and considered by the Board at its regular monthly meetings.

The Senior Accounting Officer (SAO) is delegated by the Board to ensure compliance with the tax strategy. An annual detailed review of the Group’s tax accounting arrangements is submitted by the SAO for approval by the Board.

The SAO is supported by a team of appropriately qualified and trained financial staff and independent financial experts.

There are internal policies, processes and systems in place to ensure correct tax accounting and for reviewing compliance. There are regular reviews and consultations with independent professional tax advisors regarding both the integrity of the systems and processes and on non-routine transactions.