Harvey Nichols Tax strategy

INTRODUCTION

This document has been prepared to summarise the tax strategy for the Broad Gain Group of companies including Harvey Nichols Group Limited and its subsidiaries which is a UK based tax Group. All references to “Harvey Nichols” or “the Group” include all such companies. We consider that this publication complies with the requirements of Schedule 19 of the Finance Act 2016. This document has been approved by the Board and relates to the financial year ended 31 March 2019.

APPROACH TO RISK MANAGEMENT IN RESPECT TO TAX

Harvey Nichols seeks to ensure that all tax affairs are managed with the highest standards of ethical conduct and integrity.

Overall responsibility for all matters relating to corporate governance and internal control lies with the Board of Directors. This includes tax matters.

Annual corporation tax returns are prepared internally and reviewed by external tax advisors. VAT returns and PAYE are prepared and reviewed by appropriately qualified members of staff.

A tax risk matrix is regularly updated and monitored to identify high risk areas and to ensure appropriate controls are in place for these areas with periodic reviews performed by internal audit.

The day to day tax management is performed by the Group finance team.

Where appropriate, advice is sought from external advisors regarding complex issues/ transactions.

APPROACH TO TAX PLANNING AND LEVEL OF RISK

The Group has a low appetite for tax risk and is committed to fully and timeously complying with all UK tax law. Transactions that lack commercial substance but provide tax benefits are not entered into.

Harvey Nichols works with external tax advisers in order to manage our tax affairs efficiently and claim tax reliefs where available.

WORKING WITH HMRC

Harvey Nichols is committed to maintain a transparent and collaborative relationship with HMRC. This is achieved by submitting compliant tax returns containing all relevant and true facts and co-operating with any audits or checks performed by HMRC.

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