Tax Strategy Statement
Litre Meter Ltd has earned an international reputation and conducts business with focus on issues relating to the wider environment. Litre Meter Ltd strives to meet its obligation in paying the amount of tax legally due, whilst adhering to our policies, values and wider business objectives. Our aim to balance all stakeholders’ needs means that any tax planning undertaken relates to sponsored government initiatives or relates to transactions that are commercially driven rather than tax motivated. Additionally, external tax advice is sought where tax law is unclear and subject to interpretation.
In a fast paced tax environment, tax needs to be managed proactively to ensure that we are compliant. We achieve compliance by managing our tax processes and outputs, ensuring that risks are mitigated and controls operate effectively, consulting with tax advisors and communicating with HMRC over matters of uncertainty. This allows us to have confidence that we operate an effective tax control framework. Whether compliance, operational, financial or strategic risk associated with UK taxation, our organisation seeks to minimise tax risk for our stakeholders.
A vital part of our proactive approach is an open and honest relationship with our stakeholders regularly to provide transparency over our commercial affairs and to discuss and agree the associated tax implications. Litre Meter Ltd prioritises speed to market in the competitive and dynamic industry that we operate within. Our finance team support the business to retain a speed to market by providing real time tax advice to support commercial decision making, and ensure tax is at the forefront of any planning discussions.
The Litre Meter Ltd Tax strategy complies with the requirement for large businesses to publish a UK tax strategy as outlined under paragraph 16 of Schedule 19 in Finance Act 2016.
This Tax strategy was approved on 31st December 2018