This tax strategy document, approved by the Board of Jubilee Topco Limited (Vue International’s ultimate parent company), sets out Vue International's policy concerning how it conducts its tax affairs. This document will be reviewed periodically by the Chief Financial Officer and Head of Tax and any amendments will be approved by the Jubilee Topco Limited Board. Vue International is committed to complying with tax legislation in a responsible manner with due regard to governments, shareholders and other stakeholders and to engaging in open and constructive relationships with tax authorities in all of the territories in which it operates ("Territories").
Compliance with tax regulations
Vue International is committed to complying with the tax laws and practices in all Territories. Compliance means paying the appropriate amount of tax and involves disclosing all relevant facts and circumstances to tax authorities and claiming reliefs and incentives where available.
Approach to tax risk management and governance
Vue International applies diligence and care in the management of tax risks. The Group has procedures and controls in place which are overseen by the Chief Financial Officer and monitored and reviewed by the Head of Tax and the finance function. The Finance Directors within the Territories are responsible for the day to day management of tax affairs. Professional tax advisors are used to provide guidance concerning transactions and developments in tax legislation. Tax returns are prepared by external tax consultants or by qualified in-house professionals. Tax risks are monitored within the business and escalated to the Head of Tax and Chief Financial Officer as necessary. The Head of Tax develops tax policy within Vue International and provides tax support to the business. The Chief Financial Officer and the Board of Jubilee Topco Limited are regularly updated by the Head of Tax of tax matters affecting the Group. Should any material tax issue be identified, the matter will be discussed with the Chief Financial Officer, and if appropriate the Board, who will agree an appropriate course of action with reference to Vue International's commercial objectives, the Vue International Group Tax Policy and this tax strategy.
Level of tax risk the organisation is willing to accept
Vue International's approach to the level of tax risk is one of caution and prudence. For example, if a business transaction presents any material tax uncertainty the Group will seek advice from its tax advisors or from the relevant tax authorities. Material transactions are only implemented if they make sense operationally and the tax position is supported by our tax advisers. The Head of Tax is involved in all stages of material transactions.
Attitude to tax planning
Tax planning is limited to structuring the Group's affairs in a manner that is consistent with the letter of the law, the outcome being one that reflects the commercial and economic reality of the Group's activities. Vue International will seek to utilise tax treaties, tax reliefs and other tax efficient mechanisms to which it is entitled while ensuring adherence with tax legislation. We work closely with tax advisers when dealing with areas of complexity or material transactions.
Relationship with tax authorities
Vue International engages with tax authorities, including HMRC, with honesty, integrity and transparency and in a spirit of co-operative compliance. Vue International is prepared to seek external advice where it disagrees with a ruling or decision of a tax authority but will first seek to resolve any disputed matters through pro-active and transparent discussion and negotiation.
This tax strategy has been published in accordance with Schedule 19 of the Finance Act 2016 and is in relation to the accounting period ended 30 November 2023.