Financial Information – Tax Strategy
This paper sets out the Tax Strategy for Allwyn UK Holding Ltd and its UK subsidiary Allwyn Entertainment Ltd in accordance with paragraph 19 and 25 of Schedule 19 of the Finance Act 2016. This applies to all taxes applicable to the company.
Our business has a strong focus on corporate responsibility, and we see responsible administration and payment of taxation as a responsibility of our business.
Allwyn UK Holding Ltd's overriding Tax Strategy is:
- To fulfil all of its tax reporting and payment obligations as they fall due.
- To pay the right amount of tax at the right time.
- To structure its tax affairs in an effective and efficient manner ensuring all transactions have a commercial rationale.
Approach of Allwyn UK Holding Ltd's risk management and governance arrangements in relation to UK taxation:
- Our statutory directors understand the importance of tax compliance, and how it is achieved.
- There is a constant dialogue between those directors and individuals tasked with the operation of our finance function, regarding the way our businesses manage their tax risk.
- Tax risk is managed in a manner consistent with the management of other risks.
- Key tax risks are identified and appropriate controls and procedures are implemented.
to mitigate these risks.
Tax planning:
- We undertake appropriate tax planning as part of our overall business strategy.
- We do not undertake aggressive tax planning, or deploy artificial arrangements to
obtain a tax advantage. - We aim to minimize any tax compliance risk.
- Professional advice is sought on certain transactions, with the extent of such advice
being driven by our assessment of the risk presented by each relevant transaction.
Attitude towards risk:
- The Board sees compliance with our tax obligations as key to managing our tax risk.
- We understand the importance of tax in the wider context of business decisions and have processes in place to ensure tax is addressed appropriately as part of our decision-making process.
- Allwyn UK Holding Ltd is committed to complying with all applicable tax laws.
- Allwyn UK Holding Ltd has a low appetite for risk in relation to tax matters, assessing tax risk and making tax decisions with regards to its reputation and integrity.
Relationship with HM Revenue & Customs (HMRC):
- Allwyn UK Holding Ltd is committed to developing and fostering good working relationships with HMRC.
- Allwyn UK Holding Ltd proactively manages this relationship by being open, honest and transparent in all dealings with HMRC.
- Allwyn UK Holding Ltd seeks to keep HMRC aware of significant changes in the business and seeks to discuss any issues at an early stage.
This updated Tax Strategy was approved by the Board of Allwyn UK Holding Ltd in July 2023.
