UK Tax Policy
MH Star UK Limited is a leading e-commerce retailer of garden furniture, household goods, toys, sporting and leisure products. Our customers rely on us for a variety of everyday activities. From the initial product search, through to purchase and delivery, we give customers a strong shopping experience and delivery quality products.
This document sets out the strategic tax objectives for MH Star UK Limited (MH Star UK), as head and sole UK company in the MH Star UK Limited Group, in accordance with section 16 of Schedule 19 of the United Kingdom’s Finance Act 2016 for the financial year beginning 1 January 2023 and thereafter, until superseded.
Our tax strategy is reviewed annually by the UK Management Team, which includes the Chief Financial Officer (CFO), supported by the finance team, and refers to all UK taxes and duties including:
- All UK corporate income taxes,
- Indirect taxes (VAT, Stamp Duty Land Tax),
- Employment taxes (PAYE, National Insurance, CIS),
- Other applicable tax matters.
- Our tax strategy
Our tax strategy encompasses the following key principles:
- To comply with tax legislation requirements at all times,
- To pay the correct amount of tax, utilising tax reliefs in an efficient manner intended by legislation,
- To engage fully and openly with HMRC,
- A low tolerance for tax risk.
- Risk Management
In managing our tax risks, the higher risk tax areas are identified, and suitable controls implemented to appropriately manage the risk.
To assist with this, MH Star UK may engage with specialist external advisors to review current processes that impact taxes, identify any significant risks and recommend appropriate controls.
The highest risk areas to the business include:
- New or complex transactions, including reorganisations, acquisitions or disposals,
- Transactions where there is inherent tax complexity,
- Ensuring compliance with new or amended tax legislation,
Where such risk areas are identified, internal resource is focussed, and external advisors provide support to the finance team as required to mitigate tax risks identified.
- Tax governance
- Governance refers to the responsibility and oversight of the UK’s tax affairs.
- The day to day tax management is the responsibility of the finance department who engage with external advisors where required.
- The finance department reports into the CFO, who has ultimate responsibility for the tax affairs of MH STAR UK. The CFO is responsible for implementing the tax approach approved by the Board.
- Tax Planning
- Our tax planning seeks to efficiently utilise all claims and reliefs available under UK tax legislation in a responsible manner, taking into account the wider Group strategy.
- We adhere to all relevant tax laws.
- Relationship with HMRC
- MH STAR UK is committed to full and transparent disclosure.
- We will engage in timely communication with HMRC if disputes arise until a resolution is achieved.
- The UK Tax Strategy was approved by the CFO and UK General Manager on 29 December 2022.