Tax Strategy

Bovis Homes Group PLC Tax Strategy

December 2018

Scope

This strategy applies to Bovis Homes Group plc and to the group of companies headed by Bovis Homes Group plc (“the Group”) in accordance with paragraph 16 of Schedule 19 to the Finance Act 2016.

This strategy applies from the date of publication. 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. All references relate to UK taxation as the Group has no subsidiaries incorporated or operating outside of the UK.

Aim

The Group is committed to full compliance with all statutory obligations and to managing its taxation in order to maintain both its corporate reputation and an open and transparent relationship with HMRC.

Governance in relation to UK taxation

The governance of the Group’s taxation is managed in the following distinct levels:

  • Ultimate responsibility for the Group’s tax strategy and compliance rests with the PLC Board
  • Executive responsibility of the Group’s tax is delegated by the Board to the Group Finance Director, who is also the Group’s Senior Accounting Officer
  • Day to day management of tax matters rests with the Group Head of Financial Reporting, overseen by the Group Financial Controller and Group Finance Director

Risk Management

The Group operates a system of tax risk assessment and controls as a component of the overall internal control framework applicable to the Group’s financial reporting system. Through this, the Group seeks to reduce the level of tax risk arising from its operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all processes which could materially affect its compliance with its tax obligations.

This framework is supported by advice from external professional advisors and proactive dialogue with HMRC where appropriate.

Attitude towards tax planning

The Group has a low level of appetite for tax risk. When entering into commercial transactions or making major business decisions, the Group will consider the tax implications in order to ensure that its obligations are fully understood and complied with and that any available incentives, reliefs and exemptions are taken into account. The Group does not undertake tax planning unrelated to its commercial transactions or allow tax planning to drive business decisions.

Level of risk that the Group is prepared to accept in relation to UK taxation

The level of risk which the Group accepts in relation to UK taxation is consistent with its overall objective of achieving certainty in its tax affairs. The Group seeks to comply fully with its regulatory and other obligations and to act in a way which upholds its corporate reputation. In relation to any specific issue or transaction, the Board is ultimately responsible for identifying the risks, including tax risks, which need to be addressed and for determining what actions should be taken to manage those risks, having regard to the materiality of the amounts and obligations in question.

Relationship with HMRC

The Group has an open and transparent relationship with HMRC and will proactively engage with its officers where appropriate in order to ensure HMRC is kept aware of significant transactions or to discuss any tax issues arising at an early stage. Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.

List of entities covered by the Tax Strategy

Active companies

Bovis Homes Group PLC Company registration 306718
Bovis Homes Limited Company registration 397634
Elite Homes Group Limited Company registration 2781237
Elite Homes (North West) Limited Company registration 2297984
Elite Homes (Yorkshire) Limited Company registration 1530215
Kilbride Tavistock Limited Company registration 7380791
Bovis Homes (Broadbridge Heath) Limited Company registration 8112950
Orchard Homes (Pitt Manor) Limited Company registration 7545908
Abbotswood Parcel M (Romsey) Management Company Limited Company registration 7909606
Knights Mount Management Company Limited Company registration 09217567

Dormant Companies

Bovis Homes Wessex Limited Company registration 282957
H Newbury & Son (Builders) Limited Company registration 413864
Bovis Homes Eastern Limited Company registration 406250
Bovis Country Homes Limited Company registration 1018388
Bovis Homes (New Ash Green) Limited Company registration 979679
Bovis Homes BVC Limited Company registration 739983
Bovis Homes Cornwall Limited Company registration 903316
Bovis Homes Devon Limited Company registration 321982
Bovis Homes Southern Limited Company registration 293409
Bovis Homes Developments Limited Company registration 1111870
Bovis Homes South East Limited Company registration 564904
Unitpage Limited Company registration 1968144
Bovis Homes Projects Limited Company registration 597132
Bovis Homes Insulation Limited Company registration 589694
Bovis Homes Freeholds Limited Company registration 05287523
Bovis Homes Scotland Limited Company registration SCO46508
RT Warren (Builders, St Albans) Limited Company registration 315620
Gigg Lane Limited Company registration 2552800
Bovis Homes (QUEST) Company Limited Company registration 3869493
Bovis Homes Midlands and Northern Limited Company registration 636195
Page Johnson Properties Limited Company registration 532535
Bovis Homes Pension Scheme Trustee Limited Company registration 03422197
Nether Hall Park Open Space Management Company Limited Company registration 5887174
Oxford Land Limited Company registration 2057655