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Tax Strategy

Bloom Procurement Services Limited is a subsidiary of V4 UK Holdings Limited.

This document sets out the Tax Strategy of V4 UK Holdings Limited and its UK subsidiaries for the year ended 31 December 2023 in accordance with Finance Act 2016, Schedule 19 paragraph 16 (2). The strategy refers to all UK taxes applicable to the Group and has been approved by the Board of Directors.

Governance in relation to UK Taxation

  • The Board of Directors has the ultimate responsibility for the publication of the UK’s tax strategy and governance. Responsibility for UK tax policies and procedures is delegated to the Chief Financial Officer (“CFO”).
  • The CFO is responsible for ensuring that there are policies and procedures in place to manage the Group’s UK Tax Responsibilities.
  • The Group has policies and controls in place which have been communicated to relevant members of the team to ensure that they have the tools available to allow them to fulfil their roles.
  • The CFO reports to the Board on material tax matters.
  • The CFO is supported by the finance team who are qualified and trained for their specific roles.
  • The CFO and the finance team are therefore most suitably placed to identify any issues which may have an impact on the Group’s UK taxation responsibilities.
  • The CFO and the finance team ensure that their tax knowledge is kept up to date with regular training and through discussions with their external tax advisers.
  • The Group uses external tax advisers for advice and support in relation to its UK taxes to help ensure that the Group is fully compliant with its UK tax responsibilities.

Management Of UK Tax Risk

  • The Group regularly reviews and assesses its controls, procedures, and processes in place to identify any potential areas of weakness and looks to address and rectify these areas as soon as possible. 
  • These policies and procedures are consulted and considered when the Group is considering any transactions which could have a tax impact.
  • The Group regularly seeks advice and confirmation from external advisers on routine tax matters as well as on commercial transactions to ensure that the tax implications and reporting obligations arising from a potential transaction are identified and the Group is fully aware of all obligations before proceeding.
  • The CFO encourages regular conversations and discussions in the team to ensure that the team are fully briefed on any developments which may have a tax impact

Attitude towards level of tax risk and tax planning

  • The Board of Directors does not condone, encourage, or support tax evasion and is committed to ensuring the correct tax liability is identified and paid when due.
  • The Group adopts a prudent approach to tax planning and seeks to minimise its tax liabilities by taking advantage of the various tax reliefs and incentives available. The Group strives to ensure it is tax compliant at all times.
  • Advice is sought from external tax advisers in relation to the utilisation of reliefs as well as advice regarding the potential tax implications of any commercial transactions to ensure that transactions are conducted tax efficiently and within the spirit of the tax legislation.
  • The overall basis and rational for a transaction is driven by the future strategy and direction of the Group rather than the potential tax savings.
  • The Group does not participate in any aggressive tax planning or schemes.

Relationship with HMRC

  • The Group wishes to adopt an open and constructive relationship with HMRC and aims to cooperate with them fully and timeously.
  • Where relevant the Group will seek advance clearance from HMRC in relation to relevant transactions. 
  • The Group is keen to further strengthen its relationship with HMRC and hopes to be able to do so through the appointment of a Customer Compliance Manager