From 26th March to 2nd April 2024, *10% of all Photo Gift sales will go to Make-A-Wish® International — a charity we are proud to be supporting. For more information, click here and to view the T&C's, click here.
Published on 26/05/2022 Introduction Photobox Group is the expert in personalised photo gifts. We're here to help you share all your favourite moments, big and small, with family and friends by giving our quality photo books, prints, calendars, wall art and gifts. We are committed to complying with applicable laws and regulations in the countries where we operate and we want to maintain good corporate social responsibility practices in the jurisdictions and communities where we are present. Tax governance arrangements The Board of Photobox Group's holding company, Horizon Group Holdco Limited, has overall responsibility for Photobox's tax policy and tax governance. Responsibility is delegated to the Photobox CFO, who reports regularly to the Board. Whenever significant decisions impacting tax liability or risk have to be taken, they are brought to the attention of the Board. Day-to-day management of Photobox's tax affairs resides with the tax team (comprising, inter alia the Group Finance Director and Group Tax Manager). Key decisions and projects are always discussed with senior management. Generally, advice from external advisors is obtained to assist in evaluating such decisions and projects. Approach to tax risk management Photobox's tax team is responsible for identifying, mapping, monitoring and managing tax risks, and ensuring that they comply with the standards of this tax strategy. In order to mitigate tax compliance and reporting risk, Photobox Group has invested in additional resources within the tax and accounting teams with specific focus on tax compliance, controls and processes. In addition, we ensure that our employees dealing with tax receive appropriate tax training in accordance with their roles. Level of risk that we are prepared to accept for UK taxation Our internal governance is not prescriptive on levels of acceptable tax risk, but, in practice, we have a very low tolerance for such risk. The fact that we operate in multiple tax jurisdictions requires that we accept a certain level of tax risk due to uncertainties in tax legislation and the increasing complexity of the international tax environment, particularly regarding transactions between affiliated companies. We seek to mitigate and manage this tax risk through our approach to tax compliance, tax planning and tax risk management. Attitude towards tax planning We manage the tax risks and costs inherent in every commercial transaction, in the same way as any other cost. Therefore, tax will follow the commercial outcomes, taking into account the need for tax efficiency and our understanding of the currently applicable laws and practice. Where there is material uncertainty in relation to the tax treatment of a transaction, we seek advice from leading tax practitioners and act accordingly. We take advantage of the available tax incentives and reliefs in the countries in which we operate. Relationship with HMRC We seek to establish a relationship with HMRC that is based on good faith and transparency with the goal of enhancing our long-term relationship. In view of this, we aim to have an open dialogue with HMRC in respect of developments in our business, current, future and retrospective tax risks, and interpretation of the law. Scope This Tax Strategy is prepared consistently with our Group Code of Conduct and it published in accordance and compliance with paragraph 16(2) of Schedule 19 of the Finance Act 2016 and is applicable to all UK companies within the Photobox Group ('Photobox' or 'Photobox Group'), as listed in the List of Companies below. This Tax Strategy has been approved by the Board of Directors of Horizon Group Holdco Limited, the holding company of the Photobox Group and it applies to the financial year ending 30th April 2022. List of Companies: Photobox Group comprises: Photobox Group
UK Tax Strategy FY 2022
when you sign up for our newsletter!
By continuing, you agree to the terms and have also read the privacy policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and terms apply.
© Photobox 2023, Registered company address is Herbal House, 10 Back Hill, London, EC1R 5EN.
Please note: this is our registered company address, and should not be used for returns or customer support enquiries.
Terms of use & Privacy Policy updated with effect from 25th May 2018. v3.1