Tax Strategy 2020
The Tax Strategy set out below for East End Foods is in respect of the financial year to 31 December 2020 and it complies with paragraph 16 of Schedule 19 Part 2 of the Finance Act 2016.
The Board of East End Foods recognises that compliance with tax filing and payment obligations is one of its key responsibilities. In common with all aspects of the operation of its business, the oversight is assigned to one member of the Board, namely the Chief Financial Officer (CFO), whose responsibility is to appraise the Board of key tax events. This allows all Board members to be adequately engaged in the tax affairs of the business and thereby ensure East End Foods is adhering to its responsibilities. The Group is within the Senior Accounting Officer regime. The CFO is also the SAO.
There are five key principles to which East End Foods adheres when considering all aspects of
taxation. These principles provide steering to key stakeholders and offer a framework for decision
making as follows:
Transparency with HMRC
East End Foods has an open and transparent relationship with HMRC and values the trust which HMRC places in the business to correctly deliver taxes due. In all dealings with HMRC, East End Foods seeks to maintain and further build on this relationship through proactive engagement.
Appropriately qualified Finance team
East End Foods is supported by an appropriately qualified and experienced Finance team with an awareness of tax. The Board will continue to review the structure of the Finance team at suitable intervals to ensure it remains appropriate to the business environment and external tax environment.
To assist the Finance team East End Foods engages with external professional advisers to provide technical expertise when necessary. This engagement takes place with between the CFO / Director of Group Finance for operational and compliance matters.
Attitude to tax planning
East End Foods has a strong commercial focus and, as part of its duty to its stakeholders to control unnecessary costs, the Group utilises tax reliefs and allowances available in the manner in which intended by the tax authorities and statute. East End Foods is a straightforward business and does not engage in any artificial tax arrangements.
Risk Management and Governance
East End Foods has a clear overview of its tax risk. The Board recognises this and considers that the tax strategy sits alongside stringent financial controls to manage tax exposures.
Publication date : October 2020