This document, approved by the Loomis Holding UK Limited Board of directors, concerns Loomis Holding UK Ltd, Loomis UK Ltd, Loomis UK Finance Company Ltd and Loomis Investments US Ltd (“Loomis UK Group”). It sets out Loomis UK Group’s approach to managing its tax affairs and associated tax risks for the year ending 31 December 2023.
Loomis UK Group’s approach to the management of its tax affairs is driven by its code of conduct and aims to ensure the following:
tax affairs is a complex cross-business function process and consequently eliminating tax risks entirely is impossible. Tax risks are assessed and monitored regularly and identified risks are assessed on a case by case basis, allowing the Loomis UK Group to determine how each individual risk should be mitigated.
Matters which require judgement are assessed by members of the finance team with a professional qualification and ultimately the Loomis UK Group CFO. Significant matters are ultimately subject to approval of the parent company Loomis AB (publ) and its board of directors. When required, external advice from major accounting firms and legal practices may be sought.
In reviewing the tax risks associated with a specific decision or action, Loomis UK Group will ensure that the following are considered:
In planning its tax affairs, Loomis UK Group aims to:
In accordance with CBI principles, Loomis UK Group will only engage in tax planning when it is aligned to our commercial and economic activity and does not lead to an abusive result.
An important part of our tax strategy is the maintenance and development of a strong, proactive working relationship with HM Revenue & Customs (“HMRC”).
We are transparent with HMRC and in complex cases, or those requiring interpretation, we will work with HMRC on a real time basis to determine the amount of tax due.
We understand the value of our financial reporting to customers, investors and other stakeholders. We work to provide enhanced, transparent and balanced disclosure in communicating our tax affairs.
Our annual reports can be found below. These are available in PDF format and can be viewed in your browser or downloaded to your computer. To view, simply click on the link: -
Contact the Customer Services Team using the support form
or call 0845 309 6419
(Calls to Loomis on this number include an access charge of 2p per minute PLUS your network provider’s standard call rate).
Find out how Loomis can help you cut costs while improving security and accuracy.Contact us