The tax strategy of JP Boden (Holdings) Limited and its wholly owned subsidiaries (collectively referred to as “Boden”) is set out below.
At Boden, along with creating stylish clothes, we feel it’s important to manage tax issues within the spirit as well as the letter of the law – always. Being trustworthy is one of our brand values, and we are committed to paying our fair share of tax in each of the countries where we trade. We take a conservative approach to our management of tax risk and aim to achieve low-risk status with HMRC and overseas tax authorities.
We like to do things by the book, so our tax matters are managed through robust business processes and controls, to ensure that we comply with the law and make tax returns, payments and any disclosures to the tax authorities accurately and on time. While we seek to arrange our affairs in a tax-efficient manner based on the commercial drivers of the business, we do not enter into transactions which are considered to be contrived and/or artificial.
Our in-house numbers whizz, the CFO, is responsible for the management of the Group's tax affairs, supported by an in-house tax team with expertise and experience in complex tax affairs, which is in turn supported by professional external tax advisers. This tends to be where there is uncertainty in tax treatment or conflict between rules in different countries. So, to make sure everything runs like clockwork, the Board’s audit committee review our taxation policy twice a year and the compliance committee is updated on tax matters quarterly. We know that tax can be complicated, so Boden seeks to manage tax risk through fair and open dialogue and agreat working relationship with HMRC and overseas tax authorities.
This tax strategy has been published in accordance with Schedule 19, Finance Act 2016 and applies to the year ending 31 December 2021.