Tax Strategy



The publication of this UK Tax Strategy statement is regarded as satisfying the statutory obligation under Para 19, Schedule 19, Finance Act 2016. This strategy applies from the date of publication until it is superseded and is relevant to all entities within Bidcorp UK (‘the Group’). This strategy applies to all taxes and duties set out in paragraph 15(1) of the Schedule which include Corporation Tax, PAYE, Employee Taxes, VAT and Insurance Premium Tax. As part of Bid Corporation Ltd, ‘Bidcorp’, a multinational group, we are aligned with and follow the wider Bidcorp Group taxation principles and policies which govern behaviour and guide the decision-making process.

Guiding tax principles and level of risk

The Group manages risk to ensure compliance with legal requirements in a manner which aims to ensure that we pay on time the right and proper amount of tax. The Group’s attitude towards tax planning is consistent with the guiding taxation principles outlined below. When entering into business transactions, the Group seeks to utilise available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. The Group does not undertake tax planning unrelated to its business transactions.

Guiding Taxation Principles:

  • 1. We commit to act responsibly in relation to our taxation affairs, to fulfil our compliance and disclosure obligations, and to operate in accordance with all relevant laws and regulations.
  • 2. We aim to ensure that we pay the right and proper amount of taxation.
  • 3. We seek to be efficient with our taxation affairs and, in this context, will ensure that all taxation planning is built on sound commercial business activity.
  • 4. We manage taxation in line with our governance framework and procedures.
  • 5. We build constructive relationships with tax authorities, use third party tax specialists when necessary to continuously improve our administration capabilities and the promotion of efficient tax systems.
  • 6. We understand the value of our financial reporting and work to provide enhanced and balanced disclosure in communicating our taxation affairs.

The Board’s risk appetite for tax is for certainty, defined as a preference for delivery options that have a low degree of residual risk and may only have limited potential benefit. Our accounts will be prepared in compliance with this policy and, in conjunction with the statutory filings, will seek to provide all that information that users, including HM Revenue & Customs, might need to properly appraise our tax position. Our board shall be responsible for overseeing the application of this policy and can confirm that it has been complied with over the past year.

Taxation governance and responsibilities

Oversight of the Tax Strategy is with the UK Boards. The Finance Directors are responsible for implementing the Tax Strategy and providing an update to the Boards on significant tax risks and developments. Day to day tax matters are delegated to the Financial Controllers and internal communication and escalation procedures are established within the business.

Our internal procedures, maintained by the Finance Directors, outline the tax compliance procedures, controls in place and the role of the person responsible for them. Policies are under continuous review and are revised in the light of factors such as material changes within the Group or within applicable tax legislation updates.

Advisory and technical tax support is provided by professional advisors who, in particular, provide support for any material or complex areas and appraise all senior members of the Finance team of all major tax developments.

The Bidcorp Group Finance team supported by the Bidcorp Group Audit and Risk Committee provide an oversight role to ensure that all Bidcorp Group operations adhere to the Bidcorp Taxation Policy.

Relationship with tax authorities

The Group pro-actively engages with the relevant tax authorities, on the basis of mutual respect and trust. Opportunities are sought out to meet with the local tax authorities to ensure that business operations and structures are understood, and to exchange views and insights. The Group’s tax principles endorse the long-held aim that information held about the operations and tax affairs should be well understood by the relevant revenue authorities. As such the Group emphasises the commitment to open, timeous and ongoing disclosure.

List of entities covered by this tax strategy

Bidcorp Foodservice (Europe) Ltd Bidcorp (UK) Ltd BFS Group Ltd 3663 Transport Ltd Snowdon & Bridge Ltd Bidcorp Developments Ltd Bidcorp Property Ltd Bidcorp Manufacturing Ltd Texmod Holdings Ltd Simply Food Solutions Ltd Yarde Farm Ltd Caterfood Holdings Ltd Caterfood (South West) Ltd Motec (SW) Ltd South Lincs Foodservice Ltd Elite Fine Foods Ltd Cimandis Limited Thomas Ridley & Son, Limited Food Angles Limited Nicol Hughes Foodservice Limited Harvest Fine Foods Limited Bidfresh Holdings Limited Bidfresh Limited Campbell Brothers Limited

This tax strategy also include the dormant subsidiaries as set out in the statutory accounts of Bidcorp Foodservice (Europe) Ltd.

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