The Adaptavist Group tax strategy

Adaptavist is committed to being a responsible and compliant taxpayer while maintaining shareholder value in accordance with applicable tax laws and regulations. We consider being a responsible taxpayer to be a core element of being a good corporate citizen. Our tax strategy supports the way we do business and our culture which is built on ethics and integrity to do the right thing.

This publication of Adaptavist’s tax strategy complies with Finance Act 2016 (Schedule 19 Part 2) for the financial year ended 30 September 2024.

This tax strategy applies to all UK taxes applicable to the company.

The policy will be reviewed annually.

Robust internal processes and controls are in place to ensure accurate tax reporting and compliance. These processes and controls are regularly monitored, reviewed and updated to reflect changes in tax legislation and business operations. The CFO is responsible for the implementation of the tax strategy, while the Tax Manager manages the day-to-day implementation and identification of tax risks, which are documented in tax risk registers covering all UK taxes.

Adaptavist uses external tax advisors to provide specialist input on areas of uncertainty or when tax legislation is subject to interpretation.

Adaptavist will only engage in responsible tax planning aligned with genuine commercial economic activities and will not enter into any artificial tax planning arrangements. Adaptavist strives to operate within the spirit as well as the letter of the law and we will only utilise legitimate tax incentives and reliefs where these are available and appropriate.

Adaptavist’s tolerance for tax risk is low. Our company comply fully with all applicable tax laws and regulatory obligations and act with due professional care ensuring the tax arrangements are consistent with a low tax risk approach to conducting its business.

External tax advice will be sought where there is uncertainty over the interpretation of tax law or the application, or purpose, of a law is considered unclear.

It is Adaptavist’s policy to be transparent and proactive in all interactions with HMRC. We engage openly and constructively with HMRC on matters relating to our tax affairs and work directly and collaboratively with authorities to resolve tax matters and audits in an efficient and effective manner.

Adaptavist is committed to pay the right amount of tax at the right time and seek to have an open and honest relationship with HMRC. Should any dispute arise regarding the interpretation and application of tax law, Adaptavist is committed to addressing the matter promptly and resolving it in an open and constructive manner.