Steven Eagell Ltd. is a privately owned, award winning, family run group based in the South East of England. With 18 Toyota branches and 5 Lexus branches, Steven Eagell Ltd. is currently the largest Toyota Dealer in Europe.
This statement sets out the strategy in relation to the tax affairs of Steven Eagell Ltd and all its group The strategy has been published in accordance with paragraph 16(4) of Schedule 19 to the Finance Act 2016. It has been approved by the board of directors and will be reviewed annually.
The Finance Director is responsible for leading the Tax Strategy. The strategy is approved by the Board of Directors.
The document will be reviewed annually, and any amendments will be approved by the Board of Directors. The group operates wholly in the UK, and therefore has no overseas activities and does not pay tax in any overseas jurisdictions. References to taxes include all forms of direct and indirect tax set out in paragraph 15(1) of Schedule 19, including corporation tax, income tax, national insurance contributions, VAT, and stamp duty land tax.
The group is committed to full compliance with all tax laws, and disclosure to all the relevant tax authorities. It is the responsibility of the board of directors to ensure that appropriate tax procedures are followed, and that the group is compliant in all matters affecting tax. The Finance Director has overall responsibility for all tax matters.
Taxation work is carried out by suitably qualified external agents, who liaise with relevant internal staff, to ensure information is produced timely and accurately.
The Group takes a conservative approach to tax planning and does not pursue aggressive tax planning arrangements. Where alternative routes exist to achieve the same commercial result the most tax efficient approach in compliance with all relevant laws shall be considered.
We seek to be efficient in our tax affairs but ensure that any planning is based on sound commercial principles.
We will take advantage of the reliefs and incentives that exist but show respect for the intention of the law, as well as the letter, at all times.
The Group will use incentives and reliefs to minimise the tax costs of conducting its business activities, but will only undertake arrangements which they reasonably believe do not contradict the spirit of the law. For example, the Group will not undertake transactions for tax which are inconsistent with the underlying economic consequences or undertake marketed avoidance. The company will not establish business in tax havens.
The group seeks to adopt and maintain an open collaborative approach with HMRC, all returns and information requests are submitted in a timely manner.
Where there is uncertainty in relation to interpretation of tax laws, the group will commit to ensure any disputes are resolved at the earliest possible instance.
The group strives to ensure that HMRC is informed should there be any changes to the group’s operations which are likely to lead to issues with its tax position.