The Watling Group’s tax strategy, approved by the Board, aims to fulfil its compliance and disclosure obligations and ensure that the Watling Group accounts for and settles its tax liabilities. The Watling Group is committed to conducting its tax affairs in accordance with the relevant tax laws and practices.
The tax affairs of the Watling Group are managed in line with group policies and procedures to ensure tax liabilities are accurately calculated. The Watling Group’s commitment to paying its tax liabilities takes into account any incentives and reliefs that are made available by the relevant tax authorities. The Watling Group considers the tax laws of the countries in which it operates when conducting its commercial activities.
The Watling Group does not enter into artificial arrangements for the purposes of tax avoidance. The Watling Group’s tax risk management process is conducted by the Finance and Managing Director who monitor and manage tax risks on a real-time basis. Tax uncertainties are monitored, documented and reported to the Board on a regular basis. In the event of any material uncertainty or complexity in respect of any identified risks, external advice is obtained as a matter of course.
The Watling Group has a constructive and transparent relationship with Her Majesty’s Revenue & Customs (HMRC).
The Watling Group pays a substantial amount of tax in the UK, through direct taxation and through the collection of employment taxes and social security contributions from its employees. The publication of this Watling Group tax strategy complies with Schedule 19 of Finance Act 2016.
Core to this policy, is a commitment to conducting our tax affairs in accordance with all relevant tax laws and practices. As such, Watling JCB Limited does not tolerate any form of tax evasion or the facilitation of tax evasion.
WHAT IS TAX EVASION?
The deliberate and dishonest failure by a taxpayer to declare and pay the correct amount of tax. This is a criminal offence.
WHAT IS THE CRIMINAL FACILITATION OF TAX EVASION?
The deliberate and dishonest provision of assistance to a taxpayer to commit tax evasion. This is also a criminal offence.
WATLING JCB EMPLOYEES’ ACTIONS
All Watling Employees are required to avoid any activities that might lead to, or suggest, that Watling JCB Limited is involved in tax evasion or the facilitation of tax evasion.
In particular Watling Employees must not:
- Make or submit any declarations whatsoever (either written or verbal) to any tax or customs authority without consulting with and obtaining the approval of the Finance Director and the Managing Director, Watling JCB Limited.
- Engage in discussions or negotiations with other Watling Employees or third parties in matters relating to the reduction of taxation (including duties) without consulting with the Finance Director and the Managing Director, Watling JCB Limited.
Where a Watling Employee is approached by another Watling Employee, JCB dealer, supplier or other third party to discuss taxation matters (and in particular the reduction in taxation liabilities), the Watling Employee should notify the Finance Director and the Managing Director, Watling JCB Limited immediately.