Attitude towards tax planning and level of risk
Lil-Lets manages risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax.
When entering into commercial transactions, Lil-Lets seeks to take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. Lil-Lets does not undertake tax planning unrelated to such commercial transactions.
The level of risk which Lil-Lets accepts in relation to UK taxation is consistent with its overall objective of achieving certainty in the group’s tax affairs. At all times Lil-Lets seeks to comply fully with its regulatory and other obligations and to act in a way which upholds its reputation as a responsible corporate citizen. In relation to any specific issue or transaction, the Board is ultimately responsible for identifying the risks, including tax risks, which need to be addressed and for determining what actions should be taken to manage those risks, having regard to the materiality of the amounts and obligations in question.