Tax Strategy
In compliance with paragraph 16(2) of Schedule 19 of the UK Finance Act 2016, OneAdvanced publishes its tax strategy for its UK group activities for the year ending 28 February 2026.
Our Approach to Tax
OneAdvanced is committed to creating value for shareholders while fulfilling its tax obligations and contributing positively to the communities where we operate. Our UK tax strategy mandates complete compliance with UK tax laws, ensuring that our tax payments are aligned with the commercial reality and where profits are generated.
Attitude to Tax Planning
Our tax planning strategy is designed to manage the Group’s tax position effectively, in line with our broader commercial objectives, which include prioritising customer satisfaction and delivering economic value to our shareholders. We will seek to utilise available tax credits or exemptions provided by UK tax regimes, ensuring they align with our commercial goals and do not introduce significant risk. In instances of uncertainty, we engage with tax advisors and/or tax authorities to clarify the appropriate tax treatment.
Tax Risk Management
At OneAdvanced, we manage tax risks by adhering to UK and relevant international tax laws. Our internal control framework, integral to our financial and tax reporting processes, involves qualified employees who assess and manage tax risks. We continuously review and update our processes and controls to respond to changes in our activities and tax legislation. Employees involved in tax-related processes receive appropriate training, and we engage external professional advisors when necessary for compliance and specific transactions.
Governance
The ultimate responsibility for tax strategy at OneAdvanced lies with the Board of Directors. The Chief Financial Officer (CFO) oversees tax matters and policy implementation through the UK Finance Team. Our tax work is carried out by qualified professionals who ensure accurate and timely reporting, with regular reviews as part of the finance cycle. The Board receives updates on significant tax matters and regular reports on the Group’s tax status from the CFO.
Working with HMRC and Other Tax Authorities
OneAdvanced is committed to maintaining a transparent and cooperative relationship with HMRC and other tax authorities. We seek external expertise to ensure compliance and accuracy in our tax matters, committing to prompt disclosure and transparency. We recognise that differences in legal interpretation may arise between the Group and HMRC and will engage proactively with HMRC to seek early resolution.
Further Information
For additional information, please contact OneAdvanced at enquiries@oneadvanced.com.
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