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Tax Strategy

This page sets out the UK tax strategy of BI Worldwide Holdings Limited and its subsidiary BI Worldwide Limited (collectively the “UK Group”). BI Worldwide Holdings Limited is a wholly owned subsidiary of Schoeneckers Inc, incorporated in the United States of America. This document is published in accordance with Paragraph 16(2), Schedule 19 of the UK Finance Act 2016. This tax strategy is effective from 1 July 2024 and will remain effective until any amendments are approved by the Board.

Introduction and Scope

As part of a global group headquartered in the United States of America, the UK Group is committed to managing its tax affairs in a way that is consistent with the group’s values of integrity, transparency, and compliance.

This tax strategy covers our approach to:

  • Governance and risk management relating to UK taxation
  • Attitude toward UK tax planning
  • Level of risk in relation to UK taxation
  • Our relationship with HM Revenue & Customs (HMRC)

Governance and Risk Management

The UK subsidiary’s tax governance is embedded within the broader governance structure of the group. The Board of BI Worldwide Holdings Limited is ultimately responsible for UK tax matters and ensures oversight through regular reporting to the US parent company.

Key elements of tax governance include:

  • Day-to-day management by qualified finance professionals
  • Support from external UK tax advisors for local compliance and technical matters
  • Internal controls to identify and manage tax risks
  • Regular review of tax risks as part of broader financial risk management

Tax Planning and Risk Appetite

The UK Group does not engage in artificial or aggressive tax planning. All transactions are conducted on an arm’s-length basis in accordance with OECD transfer pricing guidelines and reflect the underlying commercial substance of the business.

We take advantage of available tax reliefs and incentives in the UK only where:

  • They are aligned with the business’s commercial operations
  • They are intended by Parliament and applied in accordance with UK legislation

We maintain a low appetite for tax risk in the UK. Where there is uncertainty or complexity in the application of tax law, we seek external advice or clarification from HMRC where appropriate.

Relationship with HMRC

We are committed to maintaining a transparent and cooperative relationship with HMRC, based on mutual respect and open communication.

Our approach includes:

  • Timely and accurate submission of tax returns and payments
  • Responding promptly to HMRC queries

We support the UK’s efforts to improve tax transparency and trust between business and government.

Transparency and Reporting

The UK Group complies with UK and international tax reporting requirements, including:

  • Annual tax return filings
  • Transfer pricing documentation
  • Country-by-country reporting, coordinated at group level
  • Compliance with DAC6 (where applicable)

We aim to align with international best practices in tax transparency and responsible corporate citizenship.

This UK tax strategy has been approved by the Board of Directors of BI Worldwide Holdings Limited and is reviewed annually.

If you have any questions regarding this statement, please contact: BI Worldwide Limited CFO, 1 Vantage Court, Newport Pagnell, Buckinghamshire, MK16 9EZ