|BERICAP UK Ltd.|
|Oslo Road, Sutton Fields Industrial Estate |
Hull HU7 0YN
Tel.: +44 - 1482 - 82 66 66
Fax: +44 - 1482 - 83 28 39
Bericap UK Tax Strategy –
Period ending 31 December 2017
In compliance with section 161 and paragraph 19(2) of schedule 19 Finance Act 2016, Bericap UK Limited is publishing its UK tax strategy for the year ending 31 December 2017. Bericap UK Limited is a sole UK company, part of the wider Bericap group, headquartered in Germany.
The Bericap UK overall tax strategy is to:
Bericap UK Limited has a finance team which takes responsibility for the company’s tax processes, reporting to the company’s finance director. The finance team engage professional tax advisors to ensure that the company meets its compliance and filing obligations.
The Bericap group have a head office finance function based in Germany. The group has a decentralised operating model and accordingly the UK finance team act with autonomy in relation to tax risk management, but will refer to this group team, including the group finance director where there are tax matters of a group wide significance beyond UK-only compliance considerations.
The finance team will also use professional tax advisors to advise on other specialist tax matters, as and when required. This ensures that the company is provided with the specialist advice necessary to meet its UK tax compliance obligations, and enables the company to identify and manage tax risk.
Attitude towards risk
Bericap UK Limited’s appetite for tax risk is low and it sees compliance with tax legislation as key to managing its tax risk. The company has processes in place to evaluate tax risks as part of its decision making processes. Potential areas of tax risk are identified by the company finance team and/or professional tax advisors during the course of the tax accounting processes. Any areas identified are taken into consideration in the conclusion of wider business decisions.
Bericap UK Limited does not undertake tax planning. It uses the assistance of its advisors solely for meeting its compliance obligations in accordance with the law, and advising on available reliefs. It will claim available allowances, deductions, reliefs, incentives, exemptions and credits where it is beneficial to do so, in line with the intended purpose of such reliefs.
Relationship with HM Revenue & Customs (HMRC)
Bericap UK Limited aims to have an open and professional relationship at all times with HMRC. It uses its professional tax advisors as agents in relation to corporation tax, who deal with HMRC on the Company’s behalf. The Company does not have a Customer Relationship Manager at HMRC and is not subject to the Business Risk Review process or risk rating. If the company were subject to this process, then the company would seek to achieve a ‘low risk’ rating.
It is the company’s policy and practise to make fair, accurate and timely disclosure in correspondence and returns, and to respond to queries and information requests in a timely fashion.