This UK Tax Strategy applies to all taxes applicable to FD Technologies and its subsidiary undertakings (“the Group”). The online publication of the UK Tax Strategy Statement is regarded as satisfying the statutory obligation under Para. 16(2), Schedule 19 of Finance Act 2016. It takes effect for the year ended 28 February 2025 and will be duly updated annually in line with the above regulations.
The UK Tax Strategy was approved by the Board, and any subsequent amendments will also be approved by the Board.
A Corporate Tax Policy (‘Tax Policy’) has been developed by the Group and is approved by the Board annually, which sets out the Group’s approach to global management of taxes, governance, structuring, and risk management. Effective risk management is paramount for the Group and underpins its business strategy. FD Technologies is committed to ensuring that the Tax Policy is consistent with the Group’s overall strategy, its approach to risk, and its values.
FD Technologies strive to pay the correct amount of tax at the right time, under all relevant laws and regulations.
FD Technologies adheres to the Organisation for Economic Cooperation and Development’s (“OECD’s”) guidelines on transfer pricing, including the principles of recognising income and paying taxes in the countries where activities are undertaken.
FD Technologies takes advice from independent external tax, legal and accounting firms to ensure that its tax risk management decisions are based upon the latest and most relevant interpretations of laws and regulations. The Group recognise that tax laws are complex and may be open to multiple interpretation.
FD Technologies assesses the tax risks and analyses different tax outcomes that may arise from its commercial operations. FD Technologies does not participate in aggressive tax planning or in contrived or artificial tax avoidance schemes and adopts a low-risk approach to all tax matters, having established various tax risk management processes and systems.
Where possible, the Group will always aim for certainty on the tax positions that are adopted.
Where there is a material level of uncertainty or complexity in a specific tax matter, the Group will seek external advice to help reduce the risk.
FD Technologies is committed to the OECD’s initiatives on tax transparency, and it manages its tax affairs in a responsible and proactive manner.
FD Technologies complies with all tax laws and regulations, reporting and disclosure requirements in a timely fashion. The Group maintain candid and transparent relationships with tax authorities globally based on regular collaboration.
FD Technologies adopts its tax position on sound economic and business principles and commonly accepted best practices, recognising that tax situations can be very complex and making the right decisions requires careful consideration of many factors.
FD Technologies is committed to ensuring a transparent, open and constructive relationship with HMRC and tax authorities across the globe.
The Group strives to make full, accurate and timely disclosures in tax returns and in correspondence with HMRC.
The Group acts with integrity and seeks to always co-operate with tax authorities and to deal with issues in a timely and collaborative manner. Should genuine differences of opinion occur regarding the application of the law, the Group’s primary objective is to resolve such issues with tax authorities through open fact-based dialogue and with reference to the relevant legislation and tax law.
FD Technologies UK entities are committed to timely submission of accurate tax computations and returns in compliance with all tax laws and regulations in the UK and elsewhere.
