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The Range Tax Strategy

The Range is now one of the fastest growing retailers in the UK. With over 160 stores nationwide, we stock more than 65,000 products across 16 different departments, from Homewares and Furniture to DIY and Art Supplies. Our ethos has always been to bring our customers great quality products at the most competitive prices, drawing together everything you need for a beautiful home.

The Range’s (‘We’, ‘Our’ or ‘the Group’) tax strategy applies to all the entities within the Norton Group Holdings Limited group.

Our overriding strategic objective is to maximise the value generated by the business to return to our owners. This objective is guided by the following values which outline the approach that we take in the management of our tax affairs:

- To be a prudent guardian of the shareholder’s investments;

- To be seen as a good corporate citizen; and

- To treat others in a fair and responsible manner.

Compliance

Our approach to taxation is to pay what we consider to be the fair and correct amount of tax.

Our business activities generate substantial amounts in a variety of taxes: VAT, customs duty, corporation tax, stamp duties, employment and other taxes and we are committed to complying with tax laws in a responsible manner across all areas.

Process and procedures

We have a well-established set of procedures and processes to ensure the integrity of our tax data and that our tax affairs are carried out in line with our business operations. We always strive for continuous improvement and this is demonstrated in our approach to taxation.

Tax Planning

We manage and plan our tax affairs in the most tax efficient manner which is consistent with our business values and co-operative principles.

We undertake tax planning activities primarily to enhance the value of commercial, investment and financing decisions which the business has made. Therefore, we would not seek to enter into non-commercial transactions whose only purpose is to reduce the tax burden of the business.

Tax Risk

We manage tax risk by considering our various tax streams and identifying the key sensitive risk areas for each to ensure that we have appropriate controls and processes in place for these areas.

We aim to ensure that the level of tax risk remains within appropriate limits and is in line with our commercial activity.

We also seek either HMRC guidance or 3rd party advice for any new, particularly complex, or out of ordinary business activity.

Tax Governance

The management of our corporate tax planning, structures and affairs are the responsibility of the Financial Controller who is also the principal interface with our advisors.

As the financial data required for tax compliance is produced from the prime accounting systems the responsibility for process and controls over that data and the production of compliance information and returns also lies with the Financial Controller.

In accordance with the Senior Accounting Officer regime we maintain appropriate tax accounting arrangements throughout the business.

We also ensure that sufficient skilled resources are available either internally or via 3rd party advisors allowing our tax obligations to be properly met. Our staff training needs are continuously assessed, particularly in the light of any business or legislative changes.

Relationship with HMRC

We aim to maintain an open and positive relationship with HMRC at all times. We meet with HMRC on an appropriate basis and seek to ensure that tax matters and issues are addressed in real time.

 

 

 

 

Our tax strategy has been reviewed by Chris Dawson on 25 January 2019

The Range regards this publication as complying with the duty under para 16(2) and para 25(1), Sch 19 FA16