Tax Strategy.
Last Reviewed: 30/01/2025Overview.
BOM Group Limited Tax Strategy Year Ended 30th of September 2024. This policy covers our approach to how we arrange our tax affairs. At BOM Group Limited, we provide managed IT and ancillary services to organisations. Our skilled technical and service desk teams are backed by equally talented, information technology, data operations, procurement and finance teams.
Our tax policy consists of 5 areas:
1. Engagement with the Tax Authorities.
2. Compliance.
We are committed to paying the right amount of tax on time, every time. We have put in place a robust accounting and compliance system to ensure all our tax returns are accurately prepared.
3. Responsibility.
In arranging our commercial activities we do not prioritise tax planning or tax avoidance. We believe all responsible businesses should pay their fair share of taxation. We have never engaged in any artificial arrangements or contrived transactions which are deliberately designed to avoid taxation. All transactions we undertake have economic and commercial substance.
4. Risk Management.
Given the scale of our business we recognise that the erroneous calculation of taxes payable by BOM Group Limited, to HMRC, is a risk to the company. We therefore have robust processes and internal audit procedures in place to mitigate any such risk. In addition, we provide training plans for employees to mitigate risk of process failure. When significant risks or uncertainties arise we seek expert external advice to ensure we follow correct procedures. We remain up to date on changes in tax law and are particularly mindful of taxation issues. In particular we monitor any developments concerning the taxation of workers and treatment of intermediary workers under HMRC’s IR35 and ancillary legislation and guidance.
We continue to monitor for changes in tax legislation. The Finance team has adopted a business partnering approach to pro-actively engage with internal stakeholders to maintain a comprehensive knowledge of business activities and transactions to ensure any potential tax impacts arising from any legislative, operational or transactional changes are captured.
5. Oversight & Governance.
Our tax policies are regularly reviewed by the Board of Directors. Should any changes be required to extant policy that is communicated to BOM Group Limited finance team. BOM Group Limited regards this publication as complying with its duty under para 16(2), Schedule 19 Finance Act 2016.