Tax Strategy statement for the financial year ending 30 September 2021.
This document sets out the tax strategy of Kazap Technologies LTD (“Kazap”, “we” or “the Company”). We consider publication of this document as complying with our duty under paragraph 16(2) of Schedule 19 of the Finance Act 2016 to publish the Company’s tax strategy.
The Company complies with applicable tax laws and regulations in the UK and other territories in which it operates. The UK is our main place of business with minimal operations elsewhere.
Kazap’s tax strategy is to ensure that we make tax filings in accordance with the law and pay the right amount of tax at the correct time, while efficiently managing the tax cost to the Company of doing business.
Tax risk management and governance
Kazap’s tax strategy is set by the Board of Directors. It has been reviewed and approved by the Board, which also provides oversight of compliance with the strategy. The Company has a low-risk appetite in respect of taxation. The ultimate responsibility for Kazap’s tax affairs rests with the Director of the company. Day to day management of tax is the responsibility of our Director and our accountancy company, Simpson Wreford LLP (“SW”). The team at SW is comprised of appropriately qualified and experienced personnel whose knowledge is up to date through continuing professional development.
We aim to minimise tax risks through:
- Submission of tax and VAT returns on time and online;
- We participate in the Make Tax Digital programme;
- Using approved accountancy software by HRMC;
- Paying the right amount of tax at the correct time;
- Maintaining appropriate tax accounting arrangements, procedures and controls, as required by SW Senior Accounting Officer rules;
- Ensuring adequate resource and training for staff responsible for completing tax and VAT returns;
- Seeking specialist external advice where appropriate;
- Ensuring that material tax filing positions are justifiable and are appropriately documented;
- Maintaining an open and honest relationship with HMRC.
Approach to tax planning and level of tax risk
We will claim tax deductions or credits which are due to us under the law, and where they arise as a consequence of the Company’s normal commercial operations.
Kazap aims to pay the amount of tax legally due. There are likely to be circumstances where this amount may not be clearly defined, or where alternative interpretations or approaches might result in different tax outcomes. In these circumstances, the Company will use its best judgement to determine the appropriate course of action. This will usually involve seeking advice from external professional advisors.
The Company will not enter into transactions that have a main purpose of gaining a tax advantage or intentionally make interpretations of tax law that are opposed to the original intentions of the legislation.
Our relationship with HMRC
We maintain an open and honest relationship with HMRC. We make fair, accurate and timely disclosure in correspondence and returns, and respond to queries and information requests in a timely manner.
We will seek to resolve any disputed matters through proactive and transparent discussion and negotiation, but are prepared to litigate where we disagree with a ruling or decision.