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Tax Policy

Introduction

This Tax Strategy applies to all UK incorporated companies and UK resident establishments of the AllSaints group1 (“AllSaints”) and sets out AllSaints’ approach and attitude to UK taxation. The Tax Strategy is published in accordance with paragraph 162 of Schedule 19 of the Finance Act 2016 and relates to the financial period ended 3 February 2024.

Tax risk management and governance

AllSaints’ Board of Directors (“the Board”) is ultimately responsible for the setting of, and compliance with, this Tax Strategy. The Chief Financial Officer (“CFO”) has executive responsibility for tax and day-to-day management is delegated to the Head of Tax (“HoT”) who is appropriately qualified and reports to the CFO.

The HoT is supported by an in-house tax team (“Group Tax Function” or “GTF”) whose members are appropriately qualified and experienced. The GTF identifies and manages tax risks arising from AllSaints’ business operations by applying their knowledge and experience and endeavours to ensure that reasonable care is applied to controls and processes that could materially affect tax.

Specifically, the GTF: oversees tax payments as they fall due, maintains the Tax Risk Register for Senior Accounting Officer3 certification purposes; monitors business and legislative changes that may impact tax risks and advises, as appropriate, on changes to be made to controls, processes or systems; engages with other AllSaints’ personnel that manage or process matters that affect tax and recommends, as required, relevant sources of assistance, knowledge or training, and engages with external advisers when needed.

Tax planning

AllSaints does not undertake any aggressive tax planning, including the undertaking of any artificial transactions, the sole purpose of which is to reduce tax.

AllSaints’ tax planning aims to support the commercial needs of its business by ensuring that the group’s affairs are carried out in the most tax efficient manner whilst remaining compliant with all relevant laws and compliance obligations. AllSaints seeks to establish the tax consequences of transactions prior to them being carried out, taking advice where required from reputable external advisors and, where appropriate, from the relevant tax authorities.

Acceptable levels of tax risk

Whilst AllSaints does not have defined levels of acceptable tax risk, consistent with its approach to corporate responsibility AllSaints takes a prudent approach to risk in relation to tax. AllSaints’ approach is to identify, evaluate, manage and monitor risks. The Board is ultimately responsible for identifying risks, including tax risks, and, having regard to all facts and circumstances, for determining how they are addressed. Relevant stakeholders, including external advisors, contribute to evaluation and addressing tax risks.

Relationship with HMRC

AllSaints is committed to maintaining an open, co-operative, professional and transparent relationship with HMRC and to work collaboratively therewith to resolve disputes and to achieve timely agreement and certainty.

In particular AllSaints endeavours to ensure that HMRC are made aware of any significant changes or transactions in its business. AllSaints strives to provide accurate and timely responses to HMRC queries, demonstrating a commitment to transparency. Where there is uncertainty as to the application or interpretation of legislation, or where the applicable legislation is complex, AllSaints may engage with external advisers, and, as necessary, will discuss the matter with HMRC at the earliest possible stage to gain certainty or to reduce the potential for future dispute. AllSaints considers this collaborative approach with HMRC to be fundamental to delivering its Board led strategy.


Approved by the Board of Directors on 2 January 2025


1 Headed, as defined by paragraph 9, Schedule 19, Finance Act 2016, by Klotho Brands Ltd (formerly Lion/Heaven UK II Ltd) as from 20 November 2023; previously Lion/Heaven UK Ltd

2 Paragraph 15(1), Schedule 19, Finance Act 2016

3 Paragraph 2, Schedule 46, Finance Act 2009