JW Kane Precision Engineering Limited (JW Kane or the Company) is committed to acting with integrity and transparency in all tax matters, complying fully with both the spirit and the letter of all tax legislation. Accordingly, JW Kane adopts the following five principles:
- Compliance with all tax legislation at all times or the territory in which we operate.
- Non‐ use of any tax avoidance schemes or aggressive tax planning.
- Engagement in a full and a transparent cooperative manner with HMRC and other Government Bodies in the resolution of disputes.
- Adoption of a conservative approach in relation to tax risk management.
- Acceptance of a low level of risk in relation to taxation
Compliance for the Company means paying the correct amount of tax at the right time and disclosing all the relevant facts and circumstances to the tax authorities and claiming reliefs and incentives where applicable.
To support and assist JW Kane in adhering to these five principles the Company seeks advice from external tax advisers. Company continues to comply with best practice.
Tax compliance and governance is part of the Finance function within the Company and is the ultimate responsibility of The Board of Directors. Under its Corporate Governance structure, the Company employs suitably qualified staff in key roles in the management of its tax obligations.
The Company does not use any artificial tax avoidance scheme nor does it use any tax havens to reduce its tax liabilities.
JW Kane is transparent in its communications with HMRC. In conjunction with its advisers, tax issues are updated and reviewed regularly on an on‐going basis.
The nature and scale of the business together with the volume of tax obligations means, that risks will inevitably arise from time to time in relation to the interpretation of tax law and the nature of Company’s compliance requirements. The Company actively seeks to identify evaluate monitor and manage these risks to ensure they remain in line with overall risk strategy. In cases where there is significant uncertainty or complexity external advice is sought.
The Company regards this publication as compliance with the obligations under paragraph 19(2) and paragraph 23(4), Schedule 19 FA 16.
This document, approved by the board of Directors, sets out JW Kane approach to conducting its tax affairs and dealing with tax risks for the year ending 31 March 2022.