Tax Strategy

This tax strategy document sets out Polaris’s approach to managing the Group’s tax affairs and the risks associated with them. Our approach to tax is a key part of our ESG (Environmental, Social and Governance) agenda and helps to underpin the trusted relationship we have with the communities in which we operate.

This tax strategy document is approved by the Board of Directors and is subject to periodic review. This document is compliant with the requirements under paragraph 16(2) of Schedule 19 of the Finance Act 2016, applicable in the United Kingdom for the financial year ending 31 December 2023

Tax Risk Management

Polaris operates within a strong corporate governance structure and has policies and procedures in place to ensure compliance with tax laws and regulations.

Polaris’s tax affairs are managed by correctly qualified individuals within our finance department supported by external advice from reputable professional firms with specialist knowledge.

The directors of the board have overall accountability in ensuring that tax is considered in the wider context of the business and how risk is managed across the Group.

Attitude to Tax Planning 

Polaris is committed to complying with the UK tax laws and regulations and believes that it should pay the right amount of tax at the right time. Polaris undertakes an ethical and transparent approach to the management of its tax affairs.

Polaris will engage with external tax advisers when it requires specialist technical input, assistance with compliance requirements or updates on developments in taxation.

The tax affairs of any newly acquired subsidiary company will be managed by Polaris as soon as possible.

Attitude towards level of tax risk

Overall, Polaris has a low appetite for tax risk.

We seek to comply fully with applicable tax laws and believe it is our responsibility to pay the correct amount of tax. We ensure that our financial statements and tax returns include sufficient detail to enable the tax authorities to form an accurate view of our tax affairs, with an adequate supporting audit trail and sign-off process.

Relationship with HMRC

We seek to maintain a professional, open and collaborative relationship with HMRC at all times.

This is achieved through the timely submission of tax returns, responding promptly to any queries, and proactively seeking advice on any complex issues.