This document outlines the tax strategy and approach for Richardson Milling (UK) Limited for the year ending December 31, 2022. Richardson Milling (UK) Limited regards this publication as complying with paragraph 16(2) of Schedule 19 of the Finance Act 2016.
Our approach to tax strategy aligns with the values and beliefs of our business. We act with honesty, integrity and fairness to ensure that we comply with all tax laws, rules and regulations.
Tax Risk and Governance
We recognize that tax risks will inevitably arise from time to time in our business due to uncertainty with regards to tax law and interpretations. We manage this risk through our own research and by consulting external advisors for technical expertise when necessary in order to keep any risk to a minimal level.
Compliance with tax regulations is one of the key responsibilities of the board, and as such, the Plant Director is responsible for advising the other board members of key tax issues that arise.
In order to satisfy our responsibility to the shareholders to minimize costs, we utilize tax reliefs available to us in the manner in which they were intended to be used. We are a responsible taxpayer and would not enter into planning arrangements which would not comply with applicable laws.
Relationship with Tax Authorities
We are committed to a professional, open and transparent relationship with HMRC. We are proactive in all dealings with HMRC. It is important to us to maintain a positive working relationship.