Tax strategy

Introduction

This strategy applies to EOS Solutions UK Plc (EOS UK), a UK company which is part of the EOS group of companies which operates on a global basis and is headquartered in Germany.   The EOS Group is in turn part of the Otto group of companies also headquartered in Germany.

The strategy is considered to cover the following taxes paid and administered by EOS UK (“UK taxes”): Income Tax; Corporation Tax; PAYE; NIC; VAT; Insurance Premium Tax; Customs Duty; Import VAT; Stamp Duty Land Tax.

The strategy has been agreed by the EOS UK Board of Directors and is considered to apply from its date of publication until it is superseded.

Commitment to compliance

EOS UK has traded in the UK since 1972 and as a member of the Otto Group of companies, it always applies the core principles of social responsibility and sustainability to its business and considers potential reputational impacts as part of decision making.

As a provider of debt collection services to licensed credit providers, EOS UK is also regulated by the Financial Conduct Authority. 

Whilst EOS UK has a responsibility to deliver returns and value for our shareholders, it is committed to full compliance with UK tax rules and regulations and to pay the right amount of tax, in the right place, at the right time.

The Otto Group expects its member businesses to aim for strict adherence to local tax legislation and EOS UK maintains this commitment.

Governance in relation to UK taxation

Ultimate responsibility for EOS UK’s tax strategy and compliance rests with the Board of EOS UK.  The Director of Finance and Company Secretary is responsible for tax matters and is also appointed as Senior Accounting Officer (“SAO”) with responsibility for monitoring the integrity of the respective financial reporting systems, internal controls and risk management frameworks which includes those elements relating to taxation.

Processes relating to specific UK taxes are allocated to appropriate process owners who review and monitor systems and activities to identify and mitigate risks.  Changes to business activity and in legislation are considered for impact on existing systems, processes and reporting, with required consequential changes made to address risks based on materiality and relevant obligations.

EOS UK is also required to report to and consult with the EOS Group regarding material issues affecting the structure or operation of the UK businesses from a tax perspective, including identification of significant risk.

Responsible attitude toward risk and arranging our tax affairs

EOS UK seeks to actively identify, evaluate, monitor and manage tax risk associated with our business activities.  It aims for certainty on the tax positions adopted and, in order to adhere to its principles, any structuring undertaken will have commercial and economic substance.

EOS UK will take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, the tax legislation.

In line with its cultural values, EOS UK will not enter into transactions which it considers are contrived, artificial or counter the spirit of the law, or whose main purpose is to create an abusive tax result.

Where there is significant uncertainty, complexity or material amounts in question, in order to address identified risks, EOS UK may seek external advice from reputable tax advisors, legal firms or tax counsel as appropriate and will follow necessary due process.

Relationship with HMRC

EOS UK is committed to the principles of integrity, transparency and openness and seeks to apply these in its dealings with UK tax authorities. Wherever possible it will seek constructive and early discussions on any new arising tax matter to obtain certainty. 

EOS UK seeks to pay its UK taxes at the appropriate times and provide any relevant information requested by the tax authorities. 

EOS UK regards publication of this Tax Strategy as complying with the duty under paragraphs 16(2) and 22(2) of Part 2 of Schedule 19 of the Finance Act 2016 in the current financial year.

 

Dated: February 2020

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