This document sets out the tax strategy applicable to SG Fleet UK Holdings Limited, SG Fleet Solutions UK Limited, SG Fleet UK Limited, and Fleet Hire Holdings Limited, collectively referred to as ‘SG Fleet UK.’
SG Fleet UK is part of SG Fleet Group Limited; a company listed on the Australian Stock Exchange.
SG Fleet Group Limited are a leading provider of integrated mobility solutions, including fleet management, vehicle leasing and salary packaging services. SG Fleet Group has a presence across Australia, the United Kingdom, and New Zealand.
This strategy applies to SG Fleet UK in accordance with paragraph 16 of Schedule 19 to the Finance Act 2016. This tax strategy was published on 16th October 2023, and SG Fleet UK regards this publication as complying with its duty under paragraph 16(2) Schedule 19 FA 2016 in its financial year ended 30 June 2024.
This strategy applies from the date of publication until it is superseded. References to ‘UK Taxation’ are to the taxes and duties set out in paragraph 15(1) of the Schedule which include Income Tax, Corporation Tax, PAYE, NIC, VAT, Insurance Premium Tax, and Stamp Duty Land Tax. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which the Group has legal responsibilities.
This Tax Strategy has been approved by the SG Fleet UK Board as well as the Board of Directors of SG Fleet Group Limited and will be reviewed annually by the Executive Risk Committee. Any amendment will be subject to approval from the relevant Boards and Committees.
SG Fleet UK will manage its tax affairs in line with the following objectives:
This Tax strategy provides a governance structure to enable SG Fleet UK to comply with current tax obligations and remain compliant in the ever-changing environment.
The SG Fleet Group Board has the ultimate responsibility for corporate governance and the establishment of a tax control framework for the entire Group, which includes the UK business. The Group structures include an UK Executive Risk Committee who are responsible for oversight and monitoring of tax risk management and compliance with policies and frameworks.
Ultimate responsibility for the operation of SG Fleet UKs tax affairs rests with the UK Finance Director, who is the Senior Accounting Officer (SAO).
The Finance Director attends all SG Fleet UK Board meetings and is responsible for ensuring compliance with tax laws and regulations, including filing and payment obligations in a timely manner, managing relationships with revenue authorities, responding to regulator queries on tax matters and ensuring records and controls are in place to keep tax registrations up to date and meet data keeping obligations.
Authority to manage the day-to-day tax affairs of SG Fleet UK is delegated to the UK Finance
The Governance structures also include a Group Risk Officer and an Internal Audit Function. The Internal Audit function is responsible for control reviews, testing programs and reporting of results to the relevant Boards / Committees.
The wider SG Fleet Group has a tax risk management framework which applies to the UK business, this aligns with the Group Risk Management Policy and Risk Appetite Statements.
SG Fleet UKs general principles on tax risk management are:
Below is a summary of the three lines of defence we operate for tax risk management:
These risk management processes set out above provide assurance that the requirements of our Tax Policy and Governance Frameworks are being met.
The wider Group and SG Fleet UK has a conservative tax risk appetite for anything that would compromise achievement of its tax objectives. This means that:
In line with our Group wide Tax Governance Policy, SG Fleet UK seeks a transparent and cooperative approach with HMRC.
We will engage with HMRC with high standards of honesty, integrity, and ethics in the spirit of cooperative compliance and will proactively correspond with HMRC, including obtaining upfront agreements and/or clearances on uncertain matters, as appropriate. We will also work to answer any queries or resolve any differences in a timely and professional manner, aiming to respond to enquiries by due dates and cooperating fully in our engagement.