UK Tax Compliance
UK Tax Compliance
The Outsourcing Inc group (the Group) is a Japanese parented group operates in the UK through a number of UK entities (the UK sub-group). The Group focuses on enhancing the production efficiency of firms which operate in a variety of industries across the manufacturing and non-manufacturing sectors. The UK sub-group is a business process solutions and outsourcing organisation, which provides the majority of its consultancy and outsourcing services to central and local government.
The UK sub-group is underpinned by robust executive and senior management and committed to high standards of tax compliance by proactively ensuring the business remains complaint with all relevant UK tax obligations.
Please follow this link for more information on the Group’s business policies.
Approach to risk management and governance arrangements in relation to UK taxation
The Group’s on-going tax risk approach is based on the principle of taking reasonable care and ensuring that tax risk is identified, assessed and reported on. Tax risk is measured by reference to its impact and likelihood. Impact may consider financial and non-financial factors.
The Board is ultimately responsible for oversight, tax governance and ensuring that there is appropriate framework in place in relation to tax and associated risks. As part of tax governance, the Chief Financial Officer (CFO) reports up to the Board, on as required basis, in relation to tax matters. The business ensures that appropriate controls and processes are maintained and improved.
In the UK, the central finance team in each subsidiary, which is led by a Finance Director, is responsible for carrying out tax compliance. The central finance team plays an important role in the management of the tax risk and control environment. The business ensures that its approach to tax is clearly communicated and understood. Tax strategy seeks to maintain the Group’s reputation as a fair contributor to the UK economy, applying tax rules in good faith and in the spirit in which they are intended.
Level of risk in relation to UK taxation that it is prepared to accept
In accordance with its robust tax governance and tax risk management approach, the UK sub-group has a low tolerance of tax risk and seeks external professional tax advice when required.
Attitude towards tax planning (so far as affecting UK taxation)
The business does not undertake any transaction unless it has a commercial business purpose. In addition to this requirement, the Group, under the direction of the CFO considers a number of principles before undertaking any transaction as follows:
Impact on cash flow / financial accounts
Strength of tax advisors opinion
Approach towards the Group’s dealings with HMRC
The business maintains an open and honest relationship in its dealing with HMRC. The business seeks to have collaborative and professional relationship that embraces full disclosure and cooperation with HMRC.
This document is published on behalf of the UK sub group qualifying entities for the year ended 31 December 2018, pursuant to Paragraph 19(2) Schedule 19, Finance Act 2016, and is intended to comply with all other obligations within Schedule 19 Finance Act 2016.
This strategy was approved by the Board of Directors on the 28 November 2019.
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