UK Tax Strategy Manitou
This tax strategy is published in accordance with the requirements of Part 2 of Schedule 19 of the Finance Act 20166. This tax strategy applies to Manitou UK Ltd, Manitou PS Ltd and Mawsley Machinery (the Company) which is part of the worldwide Manitou Group (the Group). This tax strategy is effective for the financial year ending 31 December 2023.
In line with Manitou Group's ethical values, tax governance and compliance are important elements of oversight and the Group is committed to comply with all relevant tax laws and regulations.
Approach of the Company to risk management and governance arrangements in relation to UK taxation
Risk assessment and management represent an integral part of the group's operational and strategic management. The Company has processes and procedures in place to ensure that it complies with UK tax legislation in respect of its UK tax filings, payment of UK taxes and other UK tax compliance obligations. The Company ensures diligent professional care and judgment are in place to identify, evaluate, monitor, and manage potential tax risks. Advice is sought from our external UK tax advisers where appropriate. Local management is responsible for complying with UK taxation obligations, under the control of the Group Management.
Attitude of the Company towards tax planning (so far as affecting UK taxation)
The Company aims to meet its business objectives and as such, seeks to be efficient in relation to UK tax by claiming reliefs and allowances that are available in accordance with UK tax legislation. The Company is not engaged in UK tax planning that is not aligned with business and commercial strategy and operations. The Company has not entered into, and do not intend to enter into, tax planning arrangements that would be considered aggressive or contrived with the main purpose of reducing or eliminating UK taxation liabilities. Where material uncertainty exists, the Company seeks advice to ensure that it is fully compliant with applicable laws.
Level of risk in relation to UK taxation that the company is prepared to accept
Risk in relation to UK taxation is one of the business risks that the Group has to consider and seeks to minimize as part of its overall risk management. In line with Manitou Group's ethical values, Manitou’s processes, policies, and governance operate to ensure compliance with tax laws and regulations in the territories where we operate and are designed to identify and mitigate material tax risks. Where there is significant uncertainty or complexity in relation to a risk, external advice may be sought.
Approach of the Company towards their dealings with HM Revenue & Customs
The Company seeks to maintain an open, cooperative and professional relationship with the HM Revenue & Customs dealing with them in a professional and respectful manner.
The Company is committed to respond to requests from the HM Revenue & Customs in a timely and professional manner and to provide all relevant information that this required, in a transparent manner.