Tax

Stonor Medical’s Tax Strategy sets out our policy and approach to conducting our tax affairs and dealing with tax risk within the business. The strategy applies to UK taxation, including corporation income taxes, indirect taxes and employment taxes payable and reportable to HM Revenue & Customs (HMRC).

Stonor Medical’s tax strategy is to ensure that it complies with all tax laws wherever it does business, and it pays all taxes it is legally required to pay, when they fall due.

Approach to manage tax risks

The governance of the business is led by the Board of Directors, supported by KDM Accountants with the aim of ensuring that Stonor Medical meets its business and financial obligations.

Stonor Medical has an experienced group of Directors who work within the business to ensure that to ensure that: The Tax strategy is adopted and followed consistently across the business, with clear lines of responsibility and accountability; there is alignment of the strategy with the businesses overall approach to governance and risk management; and Stonor Medical pays the correct amount of tax required of it as determined by law. The Directors considers sufficient controls and processes are in place to meet Stonor Medical’s tax strategy. These controls and processes are subject to testing and review over the course of the year and continue to evolve as appropriate with legislative changes.

Attitude to tax planning

The tax strategy is aligned with Stonor Medical’s core values. Stonor Medical does not participate in any tax planning arrangements that do not comply with either the legal interpretation or the spirit of tax laws. Stonor Medical is transparent and proactive with tax authorities and seeks confirmation of treatment where tax law appears unclear.

Level of tax risk tolerated

Stonor Medical looks to ensure that it identifies and mitigates tax risks to a low level of risk through the controls and processes that are in place. All Stonor Medical’s transactions are based on sound commercial values with the intent to comply with all relevant laws including applicable tax laws.

This tax strategy was approved by the Board of Directors, Stonor Medical Limited on 28^th January 2022.