J Barbour and Sons Limited (“Barbour”) Tax Strategy

This tax strategy was published on 1st April 2023 and Barbour regards this publication as complying with its duty under paragraph 16(2) Schedule 19 FA 2016 in its financial year ended 30 April 2023.

 

This strategy applies to J Barbour and Sons Limited and to the group of companies headed by J Barbour and Sons Limited (together “Barbour”).

 

Aim

This strategy sets out Barbour’s approach to taxation and details responsibilities in this area.  Barbour aims to take a low risk approach to taxation, and as such is committed to full compliance with all statutory obligations and full disclosure to relevant tax authorities.  

Barbour’s tax affairs are managed in a way which reflect the core fundamental principles on which the business was founded and operates.  Adhering to Barbour’s solid reputation and good standing as a Royal Warrant holder, and in line with Barbour’s ethical behaviours and company values.

 

Governance
All aspects of taxation are managed as part of the Group Finance function at Barbour, and the ultimate responsibility lies with the Group Finance Director who is responsible for the Group’s tax strategy and policies.

 

Tax strategy and policies are assessed by the Group Finance Director in conjunction with the Group Managing Director in accordance with the decision making framework that forms part of our internal governance process.

 

On a day-to-day basis, tax matters are overseen by a team of qualified in house professionals, this is supplemented with advice from external professional advisors as and when required.

 

 

Risk Management and Tax planning

Barbour stands by its obligation to pay the correct amount of tax due, in a timely manner, and in accordance with all rules set out by HMRC in the UK.

 

Barbour seeks to remain compliant across all of its tax affairs by ensuring a robust system of internal control processes are in place, and that all key personnel have access to sufficient resources to enable them to stay informed of any legislative reforms that would impact our tax position.

 

In accordance with its aim to adopt a low risk approach to tax, Barbour complies with all tax rules and regulations and only engages in tax planning that is aligned with its commercial business activities.  The level of risk which Barbour accepts in relation to UK taxation is consistent with its overall objective of achieving certainty in the group’s tax affairs.

 

Barbour does not engage in any form of corporate or tax structuring which has no commercial purpose that may lead to beneficial tax positions, or where such structuring might harm our corporate or social responsibilities, reputation and brand.

 

Barbour intends that the tax implications arising from any transactions it enters into, reflect the commercial reality of each situation.

 

 

Relationship with HMRC

Barbour has always sought to maintain a healthy working relationship with HMRC and other tax authorities.   In dealing with such organisations it is our intention to:
 

·       undertake all such dealings in a professional, courteous and timely manner

·       be open and transparent about our commercial activities and the substance and nature of the underlying transactions

·       provide adequate resource to facilitate swift resolutions where practically possible

·       manage the relationship with the tax authorities with the aim of minimising the risk of challenge, dispute or damage to our tax position

·       participate in any tax authority formal consultation process

·       act with honesty and integrity at all times