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PANTOS UK Tax Strategy
Pantos Logistics UK Limited, a limited liability company registered in England, is a direct wholly owned subsidiary of Pantos Co., Ltd.
This tax strategy applies to Pantos Logistics UK Limited and to all its operations in the UK in accordance with paragraph 19 of Schedule 19 to the Finance Act 2016. In this strategy, any references to ‘Pantos’ or the ‘Group’ mean all of these entities.
This strategy applies from the date of publication until it is superseded and covers all applicable UK taxes, which include Income Tax, Corporation Tax, PAYE, NIC, VAT, Insurance premium tax, Customs Duties and Stamp Duty Land Tax.
Approach of the group to risk management and governance arrangements in relation to UK taxation
Processes relating to different taxes are allocated to appropriate process owners and tax compliance is monitored monthly as part of the monthly reporting cycle. The internal tax function operates in compliance with Group Policies and Procedures and internal control framework.
Third party professional tax advisers are engaged to support the internal finance team where required including assisting with preparation of UK tax returns and computations and advising on compliance with tax-related obligations generally and in relation to significant transactions.
Attitude of the group towards tax planning (so far as affecting UK taxation)
The Group’s o-bjective is to comply with all tax rules and regulations with respect to UK taxation and only engages in UK tax planning that is aligned with its commercial business activities to the extent permitted by UK tax law.
Level of risk in relation to UK taxation that the group is prepared to accept
Pantos takes a conservative approach to tax risk and strives to manage tax risk at a low level. The level of risk which Pantos accepts in relation to UK taxation is consistent with its overall o-bjective of achieving certainty in the Group’s tax affairs.
Where tax law is unclear or subject to interpretation, the Group will only adopt a tax position that is at least more likely than not to be allowed under applicable UK tax laws.
Approach towards dealings with HMRC
Pantos seeks to comply with its tax filing requirements and tax payment obligations. All dealings with HMRC will be conducted in a collaborative, respectful and timely manner based on a policy of openness and transparency in order to strive for early agreement on disputed matters and to achieve certainty wherever possible.
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