Tax Strategy Report

Year Ended 31 July 2023


This report covers Peoples Limited and its subsidiary companies who are a motor retail group operating exclusively in the United Kingdom.

The Group pays Corporation Tax and Employers Employment Taxes which incorporate National Insurance and Apprenticeship Levy. It also pays taxes which it collects from its employees as well as VAT. All taxes are paid within the prescribed time limits.

Tax Risk Management and Governance

The Group’s tax strategy is the responsibility of the Group Finance Director who is also the Senior Accounting Officer (SAO). The SAO has held a professional accounting qualification for over 40 years and has been in his current role for over 30 years. Significant matters will be fully discussed at Board Meetings. We operate in a well-defined and organised structure with few complex tax issues. We only operate in the UK and the structure of the Group has not changed for many years.

In their recently completed Business Risk Review, HMRC have assessed the Group as low risk in all areas covering Inherent Risk, Behavioural Risk Factors – how our behaviour mitigates the inherent risk and Contribution – namely that our tax declarations reflect what HMRC know about our business and sector. The Group has a low tolerance to tax risk. We are committed to paying the right amount of tax at the right time, and to comply with tax legislation and reporting requirements in the UK. To achieve this, we ensure we have the right procedures, processes and controls in place throughout our business to minimise the risk of non-compliance. We aim to ensure reasonable care is applied in relation to all processes which could materially affect our compliance with tax obligations. Our processes and controls are reviewed on a regular basis. If errors or weaknesses are identified then the potential impact is assessed, and our processes are amended if required.

We retain external tax advisers and consult with them to further ensure we comply with all necessary legislation.

Attitude towards Tax Planning

The Group manages risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax. At all times the 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 of Directors and Finance Director are ultimately responsible for identifying the risks, including tax risks, which need to be addressed and for determining what actions should be taken to manage those

Relationship with HMRC

We have an open relationship with HMRC and have a history of accurate and timely returns and payments. We do not engage in any complex tax planning. Recent tax visits have not uncovered any issues.

Compliance Statement

Peoples Limited considers that the publication of this statement complies with the duty set out in Part 2 of Schedule 19 Finance Act 2016.