UK Tax Strategy
This statement sets out the Group’s Tax Strategy as required by Paragraph 16 (2), Schedule 19 of the Finance Act 2016
Supporting Education Group, hereinafter referred to as “the Group”, is a leading provider of education and training services in the UK. Our services can be broken down as follows:
Educator Talent Solutions
Our Educator Talent Solutions Division helps thousands of schools and educators deliver millions of hours of teaching and education support every year.
Education Management Services
Our Education Management Services Division provides schools, senior leaders and teachers with best-in-class professional advice, consultation, accreditation and systems.
Our Tuition Division helps parents augment their children’s education with excellent tuition resources that harness the best people and the latest technologies.
We have a strong reputation for quality, innovation, and customer satisfaction. We are also committed to social responsibility and making a positive impact on the communities we serve.
This statement sets out the Group’s Tax Strategy as required by Paragraph 16 (2), Schedule 19 of the Finance Act 2016. The Tax Strategy was approved on 30th November 2023 for the year ending 30 November 2023 and applies to Hood Topco Limited and all UK subsidiaries.
The Group’s overall tax strategy is to ensure that it complies with all tax laws and that it pays the right amount of tax at the right time.
Management of tax risks
We are committed to managing our tax affairs in a responsible and transparent manner. Our tax strategy reflects our values and our approach to risk and governance.
Responsibility and accountability for our tax strategy and the way we manage our tax risks sits with our Board of Directors, who review and monitor our tax performance.
The Board of Directors delegates the responsibility for day-to-day tax matters to the Group Chief Financial Officer. The Group Chief Financial Officer is responsible for ensuring all UK tax filings are made in a timely manner and are compliant with tax law and regulations.
The Group Chief Financial Officer is supported by a qualified and experienced finance team. The finance team implements and maintains effective tax processes and controls to ensure compliance and accuracy in our tax filings on a regular basis and in relation to specific transactions or events. This facilitates the capturing of key risks, such that they can be mitigated through the operation of effective controls.
The finance team meets regularly to discuss key tax matters which may be raised with the Board of Directors. Any significant tax risk is reported to the Board of Directors and overseen by the Group Chief Financial Officer.
The Board of Directors ensure that we have adequate resources to meet our tax obligations and to align our tax strategy with our business objectives.
We consult with external tax advisors when we face new or complex tax issues, such as changes in tax legislation or the tax implications of a new business activity or transaction. We also engage with external tax advisors to review our tax positions and to provide assurance on our tax compliance and reporting whenever necessary.
Approach to tax planning
We are committed to ensuring that we pay the right amount of tax at the right time. We preserve our reputation by acting with integrity and complying fully with tax laws in all jurisdictions where we operate.
We do not engage in any artificial or aggressive tax arrangements conceived for the purposes of avoiding, deferring, or reducing tax. We will take advantage of available tax incentives, reliefs and exemptions offered by the Government, for example available research and development tax credits. These incentives and are only utilised if they are aligned with our commercial objectives.
We aim to minimise tax risk for our stakeholders by complying with tax rules and regulations, managing our operational, financial, and strategic tax risks effectively and efficiently.
The level of risk we prepared to accept for UK taxation
The Group accepts a low level of tax risk, requiring a strong technical basis for any tax positions adopted and supported by external professional advice if necessary.
We recognise that tax legislation is complex and that different interpretations may arise. We regularly evaluate the areas of tax risk that affect us, and we implement appropriate measures to reduce any risks that exceed our risk tolerance. Our tax risk management processes are proactively managed by suitably qualified personnel, with support from external professional advisers as required. We are comfortable that our low tax risk tolerance can be achieved.
We do not engage in transactions that are not consistent with our objectives or that lack a genuine commercial purpose. Our stakeholders expect us to comply with tax laws in conducting our activities and trust us to manage our tax affairs without any undue influence.
Approach towards dealing with HM Revenue and Customs (HMRC)
An important part of our tax strategy is the building and maintenance of a strong and proactive working relationship with HMRC. The Group’s approach is to ensure it conducts its business in an honest and open way, and this applies to all of its interactions with HMRC.
We will engage with HMRC with high standards of honesty, integrity and in the spirit of co-operative compliance to ensure that we comply with our tax obligations, and that we inform HMRC of any current, future, or past tax issues that may arise.
However, there may be occasions where disagreements may arise and the Group’s opinions on the correct tax treatment in a particular matter may differ with those of HMRC. If this happens, we will engage constructively and proactively with HMRC with the aim of reaching a timely resolution to any matters arising.