Linklaters' Tax Policy
This policy applies to Linklaters LLP and all UK entities in its group for the financial year ending 30 April 2024.
The policy covers our approach to arranging our United Kingdom tax affairs.
1. Our commitment to compliance
We are committed to compliance with tax law and practice. That means paying the right amount of tax in the right place at the right time. It also involves disclosing all relevant facts and circumstances to the tax authorities on a timely basis while claiming available reliefs and incentives relevant to our business activities. Our partners are also expected to personally comply with tax laws.
2. Tax planning
In structuring our business activities, we consider (along with other relevant factors) tax laws in all countries in which we operate. We will take steps to reduce the risk of double taxation (where tax is incurred on the same income in different jurisdictions). Any structuring that is undertaken will have commercial and economic substance and will consider the potential impact on our reputation and our strategy as a responsible business. We will not put in place any arrangements that are contrived or artificial.
3. Risk management
Given the scale of our business and volume of tax obligations, risks will inevitably arise on occasion in relation to the interpretation of complex tax law and compliance obligations. We pursue a low-risk approach towards our tax affairs and therefore seek to identify, evaluate, monitor and manage risks to ensure we comply in full with our legal obligations and our commitment to being a responsible business. Where there is uncertainty or complexity in relation to a risk, external advice may be sought.
4. Our relationship with HMRC
We engage with HMRC with honesty, integrity, respect and fairness and in a spirit of co-operative compliance. We meet and correspond with HMRC to explain our business and any relevant tax issues and risks that arise. We seek to resolve any differences firstly through transparent discussion, but are prepared to litigate in appropriate circumstances where we disagree with a ruling or decision of a tax authority.
5. Governance and oversight
The governance of our arrangements in relation to UK taxation is under the day to day management of our partnership tax team reporting to the Chief Finance Officer. These arrangements are approved and under the control of our Risk Committee and overseen by the Audit Committee of the Partnership Board.
Linklaters LLP regards this policy as complying with its duty under paragraphs 16 and 25 of Schedule 19 Finance Act 2016.