Attitude towards tax planning and level of risk
The UK Group 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, the UK Group seeks to take advantage of available tax incentives, reliefs and exemptions in line with tax legislation. The UK Group does not undertake tax planning unrelated to such commercial transactions.
The level of risk which the UK Group accepts in relation to UK taxation is consistent with its overall objective of achieving certainty in the UK Group’s tax affairs. At all times the UK Group 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 ensuring there is a mechanism in place to identify risks, including tax risks, which need to be addressed and or determining what actions should be taken to manage those risks, having regard to the materiality of the amounts and obligations in question. We, therefore consider that we have a low tax risk appetite.
Relationship with HMRC
The Group seeks to have a transparent and constructive relationship with HMRC through regular meetings and communication in respect of developments in the Group’s business, current, future and retrospective tax risks, and interpretation of the law in relation to all relevant taxes.
The Group seeks to discuss with HMRC any tax issues arising at an early stage. When submitting tax computations and returns to HMRC, the UK Group discloses all relevant facts and identifies any transactions or issues where it considers that there is potential for the tax treatment to be uncertain.
Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.
Contribution to the UK economy
As the UK Group is a significant employer in the region, the UK Group contributes to the UK economy via various indirect and direct taxes including Employer’s National Insurance contributions, the Apprenticeship Levy, Business Rates, Value Added Tax and Income Taxes that our employees pay as well as their consumer spending.
Full list of companies and subsidiaries covered by this tax strategy
1. Goodyear Dunlop Tyres UK Limited
· Kelly-Springfield Tyre Company Limited
· Tyre Services Great Britain Limited
· Kettering Tyres Limited
· Dunglaide Limited
2. Dunlop Tyres Limited
· Motorway Tyres and Accessories UK Limited
· Goodyear Dunlop Tyres UK (Pension Trustees) Limited
· Goodyear Dunlop Tires Ireland Limited (Incorporated in Ireland)
· Goodyear Dunlop Tires Ireland (Pension Trustees) Limited (Incorporated in Ireland)
3. Goodyear Industrial Rubber Products Limited