WEPA UK Tax Strategy
The tax strategy is published to comply with the legislation requirement under paragraph 16 (2) Schedule 19, Finance Act 2016 and has been approved by the Business Delivery Team (BDT). This strategy relates to the financial year 2023.
WEPA UK is part of a multinational family-owned business. The WEPA Group is clear on its commitment that all companies, and its employees, should act with integrity and honesty ensuring any local legal and regulatory requirements are observed. WEPA UK takes tax governance seriously and this is reflected in our tax strategy below.
UK tax risk management and governance principles
WEPA UKs tax affairs are based on commercial principles and corporate values and in accordance with relevant tax legislation. WEPA UK uses tax reliefs and allowances in the manner intended and not abusively, aggressively or to the detriment of the corporation’s reputation. WEPA takes a proactive risk management approach for tax, in order to reduce tax risk for both the corporation as well as personal risk for the individuals involved. Monthly corporate governance meetings are held by the BDT in which tax is a mandatory agenda item. WEPA UK employees skilled staff with the experience and knowledge of tax laws to reduce risk of non-compliance. WEPA UK uses both its central tax function expertise as well as external advisors to advise on any tax issues foreseen.
Tax Planning
WEPA UK is committed to ensuring we only engage in tax planning that supports the business strategy. We do not engage in tax motivated planning and do not seek tax efficiencies if the underlying commercial objective do not support the position. Our priority remains tax compliance rather than tax planning.
We understand that, on occasion, tax law and regulation can be open to interpretation. WEPA UK uses reputable third-party tax specialists to advise on tax matters who understand our business and approach to tax.
Relationships with HM Revenue & Customs (HMRC)
WEPA UK is committed to a transparent and open approach when dealing with HMRC.
Whilst the Company does not have a Customer Compliance Manager, any dealings with tax authorities are conducted in an open, collaborative, and timely manner. It is the wish of the Company that any uncertainties or disputes would be discussed in a transparent manner and agreed upon at the earliest opportunity.