Southall Travel Group Tax Strategy
This strategy applies to Southall Travel Limited and to the group of which it is a member in accordance with Schedule 19 of the Finance Act 2016. The principal activity of the Southall Travel group is that of a travel agent and a tour operator. In this strategy, references to 'Southall Travel', 'the firm' or 'the group' are to all these entities. The strategy is being published in accordance with paragraph 16(4) of the Schedule.
This strategy applies from the date of publication until it is superseded. References to 'UK Taxation' are to the taxes and duties set out in paragraph 15(1) of the Schedule. References to 'tax', 'taxes' or 'taxation' are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which the group has legal responsibilities.
Southall Travel is committed to full compliance with all statutory obligations and full disclosure to relevant tax authorities. The group's tax affairs are managed in a way which takes into account the group's wider corporate reputation in line with Southall Travel's overall high standards of governance.
Governance in relation to UK taxation
- Ultimate responsibility for Southall Travel's tax strategy and compliance rests with the Board of Southall Travel;
- Day-to-day management of Southall Travel's tax affairs is the responsibility of the Finance Team; ;
- The Finance Team is staffed with appropriately qualified individuals who seek professional tax advice where appropriate.
- Southall Travel operates a system of tax risk assessment and controls as a component of the overall internal control framework applicable to the group's financial reporting system;
- Southall Travel seeks to reduce the level of tax risk arising from its operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all processes which could materially affect its compliance with its tax obligations;
- Appropriate training is carried out for the team who manage or process matters which have tax implications;
- Advice is sought from external advisers where appropriate.
Attitude towards tax planning and level of risk
Southall Travel manages risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax.
When entering into commercial transactions, Southall Travel utilises available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation.
The level of risk which Southall Travel accepts in relation to UK taxation is consistent with its overall objective of achieving certainty in the group's tax affairs. At all times Southall Travel seeks to comply fully with its regulatory and other obligations and to act in a way which upholds its reputation as a responsible corporate citizen. In relation to any specific issue or transaction, the Board is ultimately responsible for identifying the risks, including tax risks, which need to be addressed and for determining what actions should be taken to manage those risks, having regard to the materiality of the amounts and obligations in question.
Relationship with HMRC
Southall Travel seeks to have a transparent and constructive relationship with HMRC. When submitting tax computations and returns to HMRC, Southall Travel discloses all relevant facts.
Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.
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