The Board of Lohmann GB Limited ("the Company") is responsible for ensuring that the tax obligations of the Company are understood, complied with and managed appropriately.
The Company is committed to following all applicable laws and regulations relating to its tax activities. Maintaining a transparent and co-operative relationship with HMRC is integral to the Company's tax strategy.
Managing the Company's UK fiscal obligations is a complex process and as such there will inevitably be risks of error or omission which may result in the incorrect application of tax rules or the calculation of tax returns.
The Company's on-going tax risk approach is based on the principles of reasonable care and materiality.
The aim is not to avoid or eliminate risk entirely, but to closely manage the Company's exposure to risk.
The Company's tax planning aims to support the commercial needs of the business by ensuring that the Company's affairs are carried out in the most tax efficient manner whilst remaining compliant with all relevant laws.
The Company is committed to the principles of openness and transparency in its approach to dealing with HMRC. The Company is committed to making fair, accurate and timely disclosures in respect of correspondence and returns, to respond to queries raised by HMRC in a timely manner with the aim to resolve any issues quickly and efficiently and with certainty where possible.
Matters, where the Company Finance Director considers there to be insufficient skill or experience internally, are referred to external advisors who have suitable knowledge of the Company, and hold suitable accounting and taxation qualifications, as well as the relevant experience.
The Board of Directors review the Company's tax strategies and risks as well as the internal controls and systems employed by the Company on a regular basis.