This Tax Strategy applies to Millennium & Copthorne Hotels Limited and its UK subsidiaries (“M&C Group) in accordance with paragraph 16 of Schedule 19 to the Finance Act 2016. All references to “tax” and “tax compliance” include all taxes and duties as set out in paragraph 15(1) of the schedule.
Our tax strategy is to effectively manage the tax cost and cash tax effect to the M&C Group of doing business and to provide value to our shareholders whilst ensuring that our tax affairs are transparent and aim to comply with all appropriate laws and regulations in relation to tax.
Tax Risk Management
Tax is a part of the finance function and the Senior Accounting Manager ("SAO") for the M&C Group is fully aware of their duty as signatory.
M&C Group is committed to paying the right amount of tax, in the right jurisdictions and at the right time. It will seek to actively resolve any uncertainty in the interpretation of tax legislation with the relevant tax authority. We ensure that tax returns are filed in a timely manner and payment is made when due.
M&C Group aims to comply with all applicable tax rules and regulations. Any transactions undertaken by M&C Group have a commercial purpose. We will consider a range of tax outcomes based on the underlying commercial intent of any business activity or transaction. Advice may be sought from external tax advisers in evaluating risk areas, adhering to complex tax laws and implementing best practice.
Working with HMRC
We engage with HMRC constructively, honestly and in a professional manner. We will seek to resolve disputed matters through active and transparent engagement. Regular contact is made with our Customer Relationship Manager at HMRC and we also provide HMRC with business update during face to face meetings.