Tax Strategy

This tax strategy for Higgidy Limited is published in accordance with Paragraph 16 of Schedule 19 of the Finance Act 2016. It sets out the strategy towards UK taxation adopted by Higgidy Limited for the periods ended 3 October 2021 and 31 December 2022.

Paying its fair share

Higgidy Limited is registered for taxation in the UK and pay UK tax in full on their total profits and gains.

How Higgidy Limited manages its tax risks and governance

The Finance Director has overall responsibility for tax matters at Higgidy Limited. He is supported by the Finance Controller and the remainder of the finance team at Higgidy. The finance team has ongoing access to tax professionals to support them in all areas of UK taxation, including PAYE, NIC, VAT, corporation tax, stamp duty land tax and insurance premium tax.

The preparation of corporation tax returns is outsourced to an appropriately qualified accountancy firm and reviewed by Higgidy Limited prior to submission. The review involves discussions of any areas considered to be contentious by either Higgidy the Group or the advisors and, where necessary, agreement is reached as to an appropriate treatment. If there are any areas still considered to be contentious after these discussions then these are brought to the attention of HMRC.

The Finance Director communicates with and advise the Board on the tax affairs and risks of Higgidy Limited. Higgidy also work closely with the Samworth Brothers’ Group Director of Risk and Assurance.

Higgidy Limited’s attitude to tax planning

Higgidy Limited’s planning always complies with both the letter and the spirit of current tax laws.

Approach to Tax Risk

All transactions undertaken by Higgidy Limited have a commercial purpose and the level of tax risk considered acceptable on any transaction is very low. The level of risk is considered via discussions with tax advisors and appropriate action to maintain a low level of risk is agreed in advance of undertaking a transaction.

Higgidy Limited does not set targets around effective tax rate and remuneration policies are not linked to the after-tax results of the business.

External advice is sought as appropriate to ensure that Higgidy Limited complies fully with its UK tax obligations.

Working with HMRC

Higgidy Limited is open and honest in its dealings with HMRC. The Finance Director and Finance Controller keep HMRC informed of any developments in the business and will disclose any significant changes. Higgidy Limited will continue to work with HMRC on a regular and pro-active basis.

Any inadvertent errors are reported to HMRC promptly and with full disclosure.