PNG Tax Strategy
Pertemps Network Group Limited (“the Group”) is incorporated as a limited company, registered in England and Wales, under the Companies Act 2006. This Tax Strategy applies to the Company and the Group and is published in compliance with Part 2 of Schedule 19 of Finance Act 2016. The tax strategy first came into effect for the year ended 31 December 2019 but is reviewed annually for any amendments which may be required, this version is for the financial year ending 31 December 2023.
Pertemps Network Group Limited is committed to full compliance with all statutory obligations and full disclosure to tax authorities. The Group’s tax affairs are managed in a way which considers the Group’s wider corporate reputation in line with the Group’s overall high standards of governance.
How we manage Tax risks
The Group’s approach to tax risk is founded on the principle of being considered a responsible and low risk taxpayer. Our business is not overly complex, and we therefore avoid complexity in our tax affairs, but the main tax risks the group seeks to manage are VAT, employment taxes and corporation tax as these are the dominant taxes although there are other less material tax risks that may affect the Group.
The SAO together with the central tax team are responsible for managing and monitoring aspects of tax risks in the Group. The Group aims to deliver timely and accurate tax returns through the implementation of systems and processes tailored appropriately to the size and complexity of the Group, these processes and controls are monitored and reviewed for business and legislative changes, and they are amended accordingly.
Attitude to Tax Planning
Our tax agenda is driven by the business, not the other way around. The Group will use tax efficient incentives and reliefs where available, whilst remaining compliant with all relevant UK Laws. The use of tax planning is an essential tool of tax compliant behaviour.
The tax team provide appropriate input into commercial decision-making processes to ensure clear understanding of the tax consequences of any decisions made. When required, external advice is sought to support the Groups decision making process.
Level of Risk
HMRC have confirmed that they consider the Group to be moderate risk based on their most recent Business Risk Review. The Group’s strategic aim is to be considered low risk. To achieve this, a low tolerance towards tax risk has been adopted internally together with improving our internal systems and processes to ensure they are effective and robust.
The Group also understands the reliance it places on the Group’s internal tax department to ensure that risk is low. The Group therefore ensures that the tax function is sufficiently funded and skilled, and where those skills do not exist in the department, external expertise is sort.
Working with HMRC
The Group strives to maintain relationships with tax authorities and has a transparent approach to dealing with HMRC. The Group operates a real-time working relationship with its dedicated customer relationship manager at HMRC with regards to taxation. The Group has a proactive working relationship with HMRC and will continue to engage with HMRC with the aim of reducing risk and the Group’s BRR rating.
This strategy is published in accordance with paragraph 16(2), Schedule 19 Finance Act 2016.