For the best experience, use Google Chrome or Mozilla Firefox.
ValueEdge: Value Stream Management
Continuous quality from requirements to delivery
Resilient AI-powered functional test automation
Deliver continuous application performance testing
Align corporate investments with business strategy
Govern quality and implement auditable processes
Scale enterprise SCCM with security and compliance
Plan, track, orchestrate, and release applications
Automate deployments for continuous delivery
Build business applications using new tools & platforms
The leading solution for COBOL application modernization
Modernize mainframe applications for the Cloud
Modernize host application access
Discover the future of CORBA
Modern mainframe application delivery for IBM Z
Secure, zero-footprint access to host applications
Access host data and automate processes with RPA
Multi-factor Authentication for IBM z/OS endpoints
Build secure software fast
Augment human intelligence
Discover, analyze, and protect sensitive data
Drive IT ecosystem with identity-centric expertise
Deliver simplified, secure access to users
Scale to billions of identities with IGA platform
Gain control of privileged user activities
Track changes and activities in managed services
Get fast, accurate detection of threats
Analytics for text, audio, video, and image data
Reduce risk, cost, and maintenance, and T2M
AI and machine learning for data analysis
Enterprise backup/disaster recovery
Unified traditional and mobile device management
Meet regulatory & privacy retention requirements
Email, IM, and chat-based collaboration
Mobile workforce communication & collaboration
Secure critical file storage and print services
Manage IT & non-IT services with automation and AI
Discover, monitor, and remediate with AIOps
Monitor and optimize complex networks
Discover, manage, and map configurations & assets
Accelerate provisioning with governance in place
Automate and orchestrate processes end to end
Manage IT & software assets for better compliance
Automate server provisioning, patching, and compliance
Automate screen-based human actions with robots
All Micro Focus learning in one place
Build the skills to succeed
Streamline software delivery for faster value
ValueEdge: Value Stream Management
Continuous quality from requirements to delivery
Resilient AI-powered functional test automation
Deliver continuous application performance testing
Align corporate investments with business strategy
Govern quality and implement auditable processes
Scale enterprise SCCM with security and compliance
Plan, track, orchestrate, and release applications
Automate deployments for continuous delivery
Access all products in application delivery management
Modernize Core Business Systems to Drive Business Transformation
Build business applications using new tools & platforms
The leading solution for COBOL application modernization
Modernize mainframe applications for the Cloud
Modernize host application access
Discover the future of CORBA
Modern mainframe application delivery for IBM Z
Secure, zero-footprint access to host applications
Access host data and automate processes with RPA
Multi-factor Authentication for IBM z/OS endpoints
Access all products in Application Modernization & Connectivity
Security at the core to everything you do; Operations, Applications, Identity and Data
Build secure software fast
Augment human intelligence
Discover, analyze, and protect sensitive data
Drive IT ecosystem with identity-centric expertise
Deliver simplified, secure access to users
Scale to billions of identities with IGA platform
Gain control of privileged user activities
Track changes and activities in managed services
Get fast, accurate detection of threats
Access all products in CyberRes
Trusted, proven legal, compliance and privacy solutions
Analytics for text, audio, video, and image data
Reduce risk, cost, and maintenance, and T2M
AI and machine learning for data analysis
Enterprise backup/disaster recovery
Unified traditional and mobile device management
Meet regulatory & privacy retention requirements
Email, IM, and chat-based collaboration
Mobile workforce communication & collaboration
Secure critical file storage and print services
Access all products in Information Management and Governance
Simplify Your IT Transformation
Manage IT & non-IT services with automation and AI
Discover, monitor, and remediate with AIOps
Monitor and optimize complex networks
Discover, manage, and map configurations & assets
Accelerate provisioning with governance in place
Automate and orchestrate processes end to end
Manage IT & software assets for better compliance
Automate server provisioning, patching, and compliance
Automate screen-based human actions with robots
Access all products in IT Operations Management
Give your team the power to make your business perform to its fullest
This document sets out the Group’s strategy for managing its tax affairs. The document will be published externally, on an annual basis in accordance with UK legislation.
Overall responsibility for the Tax Strategy rests with the Board.
The detailed policies for implementing the Tax Strategy are set out in the Group’s Tax Policy document. Responsibility for updating and implementing the Tax Policy rests with the Chief Financial Officer.
The Audit Committee monitors compliance with the Tax Strategy and reports / makes recommendations to the Board accordingly.
The Tax Strategy is kept under ongoing review and is subject to formal review by the Board at least once a year.
The Group’s strategy with regards to tax is:
to ensure the Group is fully compliant with its statutory, regulatory and reporting obligations - ensuring complete and accurate tax returns are filed and the correct amount of tax is paid on time;
to manage its tax costs by ensuring that tax is considered when the group carries out significant transactions or reorganizations, and that appropriate steps are implemented, which accords with the Group’s long term business strategy and stakeholder expectations;
to ensure the group utilizes statutory tax reliefs which are available to businesses generally (such as R&D tax credits or Patent/Innovation Box benefits). With specific regard to tax reliefs made available to help mitigate the impact of the COVID-19 pandemic, the Group gives due consideration to its reputation and both corporate and social responsibilities in its decision making process;
to ensure tax risks are appropriately identified, assessed and managed; and
to ensure stakeholders have a comprehensive understanding of the Group’s tax position.
The Group’s tax strategy is fully consistent with the CBI’s tax principles for UK business (attached).
Further details are set out below.
Where the application of tax law is unclear, the Group will obtain appropriate professional advice which will support the position taken in the relevant tax return.
The Group will develop good working relationships and be fully open, honest and transparent in its dealings with HMRC in the UK and other tax authorities. The Group will aim to meet with HMRC on a formal basis at least annually to update them on business developments and significant ongoing / forthcoming projects. The Group will cooperate fully with enquiries raised by tax authorities and will respond in a timely manner to requests for information.
The Group is committed to managing its tax costs as part of its strategy to maximize total shareholder returns.
All tax planning undertaken must be driven by a business purpose or commercial rationale and support the Group’s business objectives, which may include the reduction or elimination of double taxation. The Group will only enter into transactions which are fully justifiable in the event of scrutiny by the Group’s wider stakeholders.
The Group will be fully open, honest and transparent with tax authorities with regards to all tax planning undertaken.
Tax risks will be managed in accordance with the Group’s risk management framework and procedures. This includes the maintenance of a risk register which includes the material tax risks faced by the Group.
The tax implications of all major transactions (for example M&A transactions, corporate structure changes, and cross-border intra-group transactions) will be reviewed in advance by the Group Tax team with appropriate support from external advisors.
The Group will ensure that all decisions are taken at the appropriate level with appropriate supporting documentation. As part of the decision-making process, due consideration will be given to the Group’s reputation and corporate and social responsibilities.
The Group accepts that certainty of tax treatment cannot be achieved in all circumstances (in the context of both compliance and transactions). The precise amount of tax risk the Group is willing to bear will depend on the facts and circumstances relevant to the issue under consideration. The level of tax risk, which the Group is exposed to overall, is considered as part of the review of the risk register and the level of provisions for tax exposures in the Group’s financial statements.
The Group has undertaken a risk assessment to identify areas of its business that may be susceptible to tax evasion, or facilitation thereof by associated persons. The Group’s due diligence procedures are monitored to ensure they remain fit for purpose, which includes identifying and preventing facilitation of tax evasion by associated persons.
Additionally, the Group maintains measures to ensure that staff are suitably aware of the risks of associated persons engaging in tax evasion and how to prevent it from occurring. This includes, but is not limited to, annual mandatory staff training.
The Group’s financial reports, stakeholder presentations and other publicly-available documentation will provide stakeholders with a clear understanding of the Group’s tax position, including its Tax Strategy and governance processes as well as the financial position (effective tax rate, taxes paid and tax assets/liabilities).
To advance the debate on the responsible management of tax by UK business, the CBI offers this statement of tax principles for its members.
This statement of principles is intended to promote and affirm responsible business tax management by UK businesses. These principles are based on five key observations:
Relationships between UK businesses and HMRC should be transparent, constructive, and based on mutual trust with the result that HMRC should treat business fairly and with respect, and with an appropriate focus on areas of risk. UK businesses should, therefore: