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John Sisk & Son UK Tax Strategy 2019
John Sisk & Son Limited UK Tax Strategy
John Sisk & Son Ltd UK tax strategy
In accordance with the UK statutory obligation under Para 19(2), Schedule 19 of the Finance Act 2016, John Sisk & Son Limited and other UK entities (“UK Group”) outline their tax strategy in this document.
The strategy applies to the financial year end 31st December 2019.
This strategy document outlines the approach of the UK Group to tax related risk management and governance arrangements, the Group’s interactions with the UK tax authorities (HMRC) as well as its attitudes towards tax planning.
John Sisk & Son Limited is a member of the Sisk Group – an international corporation specialising in construction, distribution and property. The Sisk Group was founded in 1859 and its extensive experience allows it to develop long term relationships with its customers, professional advisors and supply chain. The Group takes pride in ensuring its responsibilities are met and that our corporate values on Trust, Quality and Openness also extends to the conduct of our tax affairs.
Roles and responsibilities
Tax strategy is ultimately the responsibility of the Construction Group Finance Director, who sits on the Sisk Group Board. The Finance Director acts as Senior Accounting Officer (SAO) and as part of this role must submit an annual certificate to HMRC stating that the Group has appropriate tax accounting arrangements.
Day to day tax matters such as VAT, CIS and PAYE are dealt with by the UK Financial Controller and UK finance and payroll teams, overseen by the Group Financial Controller. The services of third party specialists are used where required, for example in respect of Corporation tax. All finance staff hold qualifications and experience commensurate to their roles. The Group also has an internal audit function.
Approach to Risk Management and Internal Governance
The UK Group operates with the underlying policy that all business transactions are to be carried out in strict accordance with UK law and regulations. UK tax risks are minimised through the maintenance of an effective control environment and the advice provided by external advisors where appropriate.
Our obligations under the SAO framework are audited in alternate years by third party professionals and our internal audit function to verify the adoption of a best practice approach. The SAO framework is linked into our internal control framework to ensure that all UK tax obligations are dealt with and that any risks are identified and managed appropriately.
John Sisk & Son Ltd UK tax strategy
The UK Group has a low appetite for tax risk. Our primary responsibility is to ensure compliance with tax legislation and regulations. The UK Group seeks to reduce the level of tax risk arising from its operations as far as is practical using internal controls
UK tax law is considered throughout the commercial decision making process to ensure that the tax implications of any decisions made are understood and complied with. The UK Group aims to take efficient tax positions and utilise UK tax incentives whilst maintaining full compliance as well as an understanding of our responsibilities under UK tax law. Professional advice is sought when necessary as required.
The Group does not enter into in any artificial tax arrangements or tax planning structures. It does seek to take advantage of legitimate tax incentives and reliefs where available.
Relationship with tax authorities
The UK Group values its low risk status with HMRC and maintains a positive and proactive relationship ensuring that queries are dealt with promptly and efficiently. The UK Group will seek the views of HMRC on any uncertain tax positions. Any engagement requiring professional advice/HMRC clearance is managed primarily by the UK Financial Controller with support from the Group Finance Director as required.
This tax strategy has been approved by the Board of John Sisk & Son Limited and will be reviewed annually.