Scope
This UK tax strategy applies to the following UK company, Bennington Pet Foods Limited, whose ultimate parent undertaking is Arrow Group Limited, an Irish registered company (The group headed by Arrow Group Limited herein referred to as ‘the Group’ or ‘Arrow Group’)
Bennington Pet Foods Limited is a manufacturer of pet food. These products are distributed throughout the UK and internationally.
This strategy is published in accordance with para 19(2), Schedule 19, Finance Act 2016 relating to the financial year ended 31 December 2023 and applies from the date of publication until it is superseded.
Aim
The Group is committed to full compliance with all statutory obligations and full disclosure to relevant tax authorities.
The management of the Group’s tax affairs is aligned to the fundamental principles and approach to taxation and the wider overall high standards of governance of The Arrow Group.
Documenting this UK Tax Strategy provides direction and control over the UK tax activity of the Group.
Governance in relation to UK taxation
Risk Management
Ultimate responsibility for ensuring that the Group’s UK tax affairs are conducted in accordance with this UK Tax Strategy rests with the Board of the Arrow Group (‘the Board’).
The Board delegates executive responsibility to the Group’s Group Financial Controller ‘GFC’).
Day-to-day responsibility for the subsidiaries’ tax affairs is delegated to Senior Accountants within each subsidiary.
The work of the Financial Controller is supported by documentation that evidences the facts, and the conclusions reached during the course of their work, and where necessary the Group Financial Controller takes additional advice from appropriately qualified external tax advisers.
Systems and Controls
All applicable UK laws, rules and regulations are observed, and diligent professional care and judgement is applied in arriving at any conclusions and assessment of uncertain tax positions.
The Group operates appropriate systems, controls and processes to manage taxes effectively. Processes are regularly reviewed to ensure they remain robust and compliant. Wherever possible, risks of errors are mitigated by having segregation of duties, for example segregating the preparation and review of tax returns.
Governance in relation to UK taxation
All transactions are aligned with the commercial and economic activity of the Group’s operations. 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.
The Group manages risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax at the right time.
When entering into commercial transactions, the Group seeks to utilize available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. The Group does not undertake tax planning unrelated to such commercial transactions.
Consideration is always given to the Group’s reputation and corporate responsibilities when considering tax initiatives.
Where the impact of a transaction is complex or where the relevant tax legislation is unclear, the Group will seek external third-party advice to ensure that the tax position adopted is expected to be acceptable to HMRC.
Relationship with HMRC
We are committed to maintaining an open and transparent relationship with HMRC. We will engage with HMRC in a constructive manner, providing timely and accurate information as required. We seek to resolve any tax issues promptly and collaboratively.
When submitting tax computations and returns to HMRC, the Group discloses all relevant facts and identifies any transactions or issues where it considers that there is potential for the tax treatment to be uncertain.
Should any inadvertent error occur in submissions made to HMRC, these would be fully disclosed and corrected as soon as reasonably practicable after they are identified.
Conclusion
Arrow Group is dedicated to ensuring that its tax strategy is aligned with its overall business strategy and values. We are committed to compliance, transparency, and ethical conduct in all our tax affairs.
This UK Tax Strategy was originally approved by the Board of Arrow Group on 31 December 2024 for and on behalf of the Group.