MC 478 Limited – Group Tax Strategy
This document details the tax strategy for the 2023 financial year, as required by Schedule 19 of the Finance Act 2016, of MC 478 Limited and its subsidiaries including:
- Mon Motors Limited
- J.D. Cleverly Limited
- Cwmbran Motors Limited
- Motor Services (Bath) Limited
This strategy covers all direct and indirect taxes for all group companies, including corporation tax, employment taxes, VAT and stamp duty.
UK Tax Risk Management and Planning
The group tax strategy is approved annually by the Board of Directors, and the Senior Accounting Officer holds responsibility for its implementation, management and oversight.
The group maintains a tax risk register internally to identify and reduce tax risk and considers this a suitable governance framework for management of tax risk. This register is reviewed at least on an annual basis, and also on an ad hoc basis as and when required.
The group adopts a low risk approach in all forms of tax planning and consults regularly in an open and transparent manner with its professional advisers and HMRC to ensure full disclosure of accounting arrangements and internal controls.
Relationship with HMRC
The group continually communicates with HMRC on a number of matters, to ensure ongoing compliance. This communication takes place at a number of different levels within the organisation and is not restricted to board level. Key members of the finance team are encouraged to communicate directly with HMRC when there is any ambiguity relating to any transaction or arrangement.
The group submits all returns within the appropriate timeframes and will advise HMRC of any issues that may be discovered from time to time, should any arise. We will continue to maintain an open, transparent relationship with HMRC.