Introduction
The G-Research group is committed to being a responsible taxpayer, complying with local tax laws and regulations and with OECD guidance. The primary objective of G-Research’s tax strategy is accurate and timely tax compliance. This includes the following:
- To ensure local and international laws and regulations are complied with, and that OECD guidance is followed;
- To ensure that all taxes, including corporation tax, employer taxes, employee withholding taxes, indirect taxes and other local taxes are paid in full and in a timely manner;
- To provide training and guidance on tax matters to the business as required; and
- To maintain a relationship with HMRC based on foundations of compliance and transparent communication.
Approach to Risk Management and Governance Arrangements in Relation to UK Taxation
Responsibility for G-Research’s tax contribution, tax risk and governance ultimately sits with the Board and Management Committee; however, day-to-day responsibility is delegated to the Head of Finance and the Head of Tax. They are supported by the wider Finance team.
G-Research’s tax compliance function is managed by its team of in-house qualified accountants, ensuring that tax decisions are informed and current. A control framework is in place to ensure that tax risks, including changes to relevant laws, regulations and guidance, are identified in a timely manner and subsequent action is taken to mitigate those risks to an acceptably low level. Tax risks and responses are documented to ensure that G-Research’s tax strategy remains transparent, and to ensure that it is communicated to and recognised by those in charge of governance.
Attitude Towards Tax Planning and Risk
G-Research does not consider tax planning to be a major driver in determining business strategy and key decision making. G-Research has a low-risk appetite in terms of tax planning opportunities.
We may utilise available tax reliefs and incentives where appropriate and in a manner which is consistent with the government’s policy objectives.
Applicable tax advice will be sought from external advisors in respect of material transactions or when the Finance team do not have the necessary expertise required in a particular area. Significant transactions within, or changes to, the business is reviewed and approved by the Board or Management Committee.
Our Approach to Working With HMRC
G-Research looks to maintain an open, positive and cooperative working relationship with HMRC.
We are committed to working with HMRC to resolve any issues that arise and to providing appropriate disclosure of relevant facts to enable the progression of HMRC enquiries.
This strategy statement has been prepared in accordance with paragraphs 19(2) and 25 of Schedule 19 of the Finance Act 2016 and provides an overview of G-Research’s policy and approach to its tax affairs for the financial period ended 31 March 2024. This strategy was published on 1 March 2024.