Our approach to tax

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We support a relationship with HM Revenue & Customs (HMRC) and regulatory bodies that is transparent and based on mutual trust and respect, enabling constructive dialogue and engagement with all.

Tax principles

Our tax services are provided according to these requirements and principles:

1 Compliance with the relevant legal and regulatory requirements

We act lawfully and honestly in our professional and business relationships, and we expect the same behaviours from our people and clients.

2 Consideration of the potential reputational risk to our clients and/or Grant Thornton UK Advisory & Tax LLP when providing tax services

We recognise that our reputation is as important to our clients as it is to us. When providing tax services, we act in a way that will not bring the tax profession or our brand into disrepute.

3 Strict adherence to the ICAEW and CIOT ‘Professional Conduct in Relation to Taxation’ (PCRT)

We strictly adhere to PCRT guidelines, particularly its fundamental principles: integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour.

4 Our clients are not advised to enter into arrangements that evade tax or that rely on an inability of any taxing authorities to collect tax.

We do not advise clients on tax arrangements which seek to evade tax, contain a dishonest intention not to pay the tax lawfully due or possess the elements of tax fraud. We are engaged with HMRC, professional bodies and other stakeholders to curb these behaviours, benefitting society as a result.

5 Compliance with the requirements of the General Anti-Abuse Rule (GAAR), the Disclosure of Tax Avoidance Schemes' (DOTAS) and the Disclosure of Tax Avoidance Schemes for VAT and other indirect taxes’ (DASVOIT) rules.

We comply with all applicable disclosure requirements, particularly the GAAR, DOTAS and DASVOIT. We do not encourage or promote tax planning arrangements or structures that are contrary to Parliament’s intent or are artificial or contrived and seek to exploit shortcomings in the relevant legislation.

6 Clients are made aware that, although in their view (and ours) transactions or structures have both substance and commercial purpose, HMRC, or other taxing authorities, may form a contrary view which may result in an increased risk of challenge and failure.

We recognise that transactions or structures can have a commercial basis but still be open to challenge by HMRC. Keeping our clients informed of any increased risks allows us to support our clients in their purpose and their decision-making process in tax matters.

7 Grant Thornton UK Advisory & Tax LLP operates an ethical policy of full disclosure with HMRC in connection with any tax services that it is engaged to perform. It also expects that its clients follow the same principle.

A relationship of mutual trust and transparency is only possible if we take an ethical approach to our work. A policy of full disclosure means that we earn and maintain the trust of our clients and HMRC. We adhere to the HMRC Standard for Agents so that our work meets the expectations of HMRC as well as our clients.

Tax Strategy

The Finance Act 2016 introduced the requirement for businesses like ours to publicise their tax strategies as from the end of the 2018 financial year. The tax strategy sets out:

the firm’s approach to risk management and governance in relation to UK taxation
the firm’s attitude towards tax planning (so far as affecting UK taxation)
the level of risk in relation to UK taxation that the firm is prepared to accept
the firm’s approach towards its dealings with HMRC

Download our strategy to read more [ 2858 kb ]

Preventing the facilitation of tax evasion

Grant Thornton UK Advisory & Tax LLP recognises that UK or foreign tax evasion, and its facilitation, are serious criminal offences. We have a policy of zero tolerance towards tax evasion and its facilitation in line with the firm’s code of conduct, our Tax Principles and Tax Strategy. Our people, and those who provide services on our behalf, are required not to do anything which criminally facilitates tax evasion. Those providing services on our behalf should also comply, as appropriate, with the expectations outlined in our policy.