AMADA Tax Strategy
This document sets out the tax strategy for Amada UK in the UK for the financial year ending 31st March 2023. Our tax strategy is comprised of the following four components:
Commitment to compliance
Amada UK are committed to complying with UK tax law and practice. Our understanding of compliance is that Amada UK will pay the right amount of tax, in the right place, at the right time. Amada UK consult with our professional advisers to ensure this commitment to compliance is met.
Tax planning and attitude towards risk
Amada UK undertake routine tax planning as part of our overall business strategy. Our tax planning aims to ensure that the business is conducted in a tax efficient manner, with a view to maximising value on a sustainable basis for our parent company. Any tax planning undertaken will have commercial and economic substance and will have regard to our reputation and broader goals. We will not undertake any planning that is contrived or artificial.
Amada UK considers tax as part of our overall decision-making process. Our aim is to manage our tax risk and achieve tax efficiency as part of normal business transactions. We do not undertake transactions whose main objective is the reduction of tax liabilities.
Amada UK seeks guidance as appropriate from our professional advisers to support the company’s decision-making process in line with the above.
Risk management and governance arrangements
Amada UK actively seeks and receives information from its wider business to ensure UK taxation is appropriately managed. Where there is significant complexity or uncertainty, Amada UK will consult with our professional advisers.
The strategy is consistent with the Amada Global Code of Conduct and our principles.
Approach to dealing with HMRC
Amada UK is committed to dealing with HMRC in a proactive and transparent manner and seeks to maintain a positive relationship with them at all times. In particular this includes:
• Maintaining an open dialogue with HMRC in a co-operative and professional manner
• Responding to all queries and information requests in a timely manner
• Meeting all tax filing and payment deadlines
Where necessary we may engage with HMRC in advance of undertaking transactions to ensure the correct application of tax law.