Saba UK Tax Strategy

“Saba UK” refers to Saba Group UK Limited and its subsidiary companies.

The purpose of this strategy is to satisfy the obligation set out in Part 2 Schedule 19 Finance Act 2016.

This strategy applies to the Financial Years from 1 January 2023  and covers all UK taxes applicable to Saba UK.

Saba UK is committed to full compliance with UK tax legislation and approaches all statutory obligations in a responsible manner in order to have an open and constructive relationship with HMRC. The strategy shall be reviewed annually, and updated as appropriate.

Saba UK’s tax strategy is covered by the following areas:

1. Management of UK tax risks

Ultimate responsibility for Saba UK’s tax strategy and compliance rests with the Board of Directors of Saba UK. The Finance Department, led by the Finance Director, ensures that Saba UK’s tax strategy is one of the factors considered in all significant business and commercial decisions that may have a tax impact. The Finance Director reports monthly to the Board on tax matters.

Saba UK operates a system of tax reconciliations as a component of the overall internal control framework applicable to Saba UK’s financial reporting system.

Saba UK seeks to reduce the level of tax risk arising from its operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all transactions that could materially affect its compliance with tax legislation.  External advisers are used where appropriate in:

- preparing its corporation tax computations and submissions;

- advising about other taxes, especially in respect of any large or unusual transactions.

2. Attitude to tax planning

Saba UK will not undertake contrived or artificial tax planning. When entering into or undertaking transactions, Saba UK will ensure that it takes advantage of tax reliefs or incentives in a way that is aligned with its commercial objectives and UK tax legislation.

3. Approach to UK tax risk

Saba UK is committed to complying with all relevant laws and regulations to ensure the correct amount of tax is settled in a timely manner.

Saba UK’s aim is to submit all UK tax returns on a timely basis and report to HMRC sufficient information to ensure that the Group’s tax affairs are transparent. Documentation is retained to support the information presented in the tax returns for at least the period required by law.

4. Working with HMRC

Saba UK has a relationship with HMRC that is constructive and based on honesty and integrity.  The aim is that information and all relevant legal disclosure requirements should be presented to HMRC in a clear and transparent manner in order to avoid unnecessary disputes.

Saba UK conducts all interactions with HMRC in an open, collaborative and professional manner and would work with HMRC to resolve any disputes, should they arise, through transparent discussion in order to achieve early agreement.