Helston Garages Group consists of a small number of limited companies registered in England. All operations are engaged in the Motor Trade and are based in the South West of England. All profits are reported and taxed in the United Kingdom.
How we manage tax risks
The Group Board of Directors bears ultimate responsibility for the groups tax strategy and compliance. Delivery of the tax strategy is the responsibility of the Group Financial Director who is the Senior Accounting Officer.
We have internal policies, processes and systems in place to ensure correct tax accounting and for reviewing compliance. All taxes and supporting processes are reviewed throughout the year, normally taking professional tax advice on non-routine matters.
Routine tax compliance is overseen by the Group Financial Director with monitoring focused on the areas of greatest risk of error. Non-routine items and exceptions are reported to and considered by the Group Board of Directors.
Attitude to tax planning and level of risk
The total amount of taxes both collected and paid to HMRC is greater than our annual trading profits and it is important that we pay the correct amount of tax legally due after applying any tax allowances and reliefs available.
The Group’s tax planning aims to support the commercial needs of the business by ensuring that the companies’ affairs are carried out in the most tax efficient manner whilst remaining compliant with all applicable tax rules and regulations. We therefore only consider tax planning opportunities where they can legitimately and legally minimise taxes payable and take professional tax advice before the board makes any final decisions.
Our approach sets out to maintain the rating of “low risk” with HMRC and therefore the group is not involved in the implementation of any schemes which are notifiable under the Disclosure of Tax Avoidance Schemes (DOTAS) legislation.
Working with HMRC
We have systems in place to ensure that we submit all required returns and payments to HMRC accurately and on time.
We expect and accept HMRC involvement and our approach is to engage in a timely, professional and helpful manner.
Approved by the board on 11th September 2019 and signed on its behalf by:
Group Financial Director