Datacom is committed to conducting its tax affairs in accordance with the following principles:
We interpret UK tax law in a reasonable, non-aggressive manner taking into account both the purpose and intent of the applicable law. We seek external professional guidance on any uncertain or contentious matters as and when they arise. Where applicable to our business circumstances, we will seek to apply UK tax incentives and exemptions in the manner in which they are intended.
We conduct business with honesty, integrity, and in compliance with applicable laws and regulations. The Datacom Group, including Datacom UK, has a low tax risk appetite which is supported by Datacom Group’s senior leadership and Board of directors. Datacom utilises qualified and experienced internal tax professionals in conjunction with our external global tax advisors to identify uncertainties and ensure tax risks are assessed and addressed appropriately. The Audit Committee of Datacom Group Limited’s Board of directors provides regular oversight of tax matters, along with the full Board as appropriate.
Where a tax opinion is sought, no position will be adopted unless it is supported by at least a ‘should’ opinion. Relevant considerations that Datacom takes into account when evaluating its UK and global tax risk profile include, but are not limited to, the quantum of tax concerned, local and international tax authority guidance (if applicable), potential reputational damage and impacts on relationships with HM Revenue & Customs (“HMRC”), and other stakeholders.
Datacom is committed to maintaining an open, proactive, professional, and transparent relationship with the local tax authority, HMRC. Where necessary, we will seek formal or informal clearance from HMRC on uncertain tax positions insofar as they relate to our tax affairs.