This document, approved by Marley Group PLC board, the ultimate parent Company of Marley Limited and Viridian Solar Limited, sets out the Group’s policy and approach to conducting its tax affairs and dealing with tax risk, and is made available to all of our stakeholders.
The document is periodically reviewed by the CFO, and any amendments are approved by the Board of Directors. It is effective from the year ending 31 December 2019.
Monty Topco Tax Policy
Our policy comprises five key components.
We are committed to conduct its tax affairs to comply with all relevant laws, rules and regulations and reporting and disclosure requirements. The Group’s tax affairs are managed in a way which takes into account the Group’s wider reputation and standards of governance.
2. Our approach to risk management and governance arrangements in relation to taxation
Our tax strategy is aligned to our overall risk strategy. We believes that by approaching the control of risk in a strategic and organised manner risk factors can be reduced to a level that is acceptable given its likelihood and impact.
Responsibility and accountability for the Group’s tax affairs is clearly defined and overseen by the Group’s Board.
Professional diligence and care is applied to our management of all risks associated with tax matters to evaluate those risks. Where there is uncertainty as to the application or interpretation of tax law, appropriate advice is taken from third party advisers.
3. Attitude of the Group to risk management and governance arrangements in relation to taxation
Tax strategy is reviewed on an on-going basis by the Group’s Board.
We aim for certainty regarding the tax positions adopted by the Group. Incentives and reliefs will be claimed to minimise tax costs of conducting our business activities, but we will not knowingly enter into arrangements that are contrived or artificial.
4. Level of risk to taxation
Our policy is to minimise risk wherever possible when conducting our business affairs including tax matters. We actively seek to identify, evaluate, and monitor and manage tax risks to mitigate such risks. Where there is significant uncertainty or complexity in relation to a risk, external advice is sought.
5. Approach towards dealings with HM Revenue & Customs (‘HMRC’)
An important part of our tax strategy is the maintenance and development of a co-operative and proactive working relationship with HMRC. We engage with HMRC with honesty, integrity, respect and fairness and in a transparent manner. Wherever possible, we do so, on a real-time basis.
Marley Group PLC and all of it’s subsidiaries regards this publication as complying with the duty under para 16(2) Sch 19 FA16.
Marley Limited and Viridian Solar Limited are trading subsidiaries of Monty Bidco Limited. Marley Limited and Viridian Solar Limited are part of a group of entities whereby the ultimate parent entity is Marley Group PLC. The above tax strategy has been endorsed and adopted by all subsidiaries in the Marley Group PLC