Tax Strategy
FEVERTREE DRINKS PLC - GROUP TAX STRATEGY FOR THE FINANCIAL YEAR ENDED 31/12/2021
This tax strategy for financial year ended 31/12/2021 was published by Fevertree Drinks plc on 15/12/2021 in compliance with its duty under paragraph 16(2) Schedule 19 FA 2016. This policy was approved by the Fevertree Drinks plc Board of Directors.
This strategy applies from the date of publication until it is superseded. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which the Group has legal responsibilities.
The Board of Directors is responsible for our overall tax strategy and delivery of this strategy is delegated to the Chief Financial Officer. The Audit Committee has oversight responsibilities regarding the Group’s financial and corporate reporting, risk management and internal controls, including as they relate to taxation.
The Group takes its global tax responsibilities seriously and will not engage in any tax planning activities we deem to be aggressive. The goal of our tax strategy is full compliance with UK law and the laws of the various jurisdictions in which we operate.
Managing Tax Risk
Tax risks are reviewed regularly by senior members of the Finance and Legal teams and with our external tax advisors. Our Chief Financial Officer provides updates to the Board of Directors and Audit Committee on tax risks during the year.
As a fast-growing business, we regularly refine our tax processes and controls to better identify, manage and mitigate tax risks.
Approach to Tax Planning
The commercial substance of the Group’s transactions drives all tax arrangements. While we take advantage of tax incentives and rebates to which we are entitled, we do not structure transactions for the purpose of minimising or avoiding the payment of tax. The transfer pricing policy of the group ensures that all transactions between Group companies are on an arm’s length basis and that the Group pays the appropriate level of tax within the jurisdictions in which we operate.
Tax Risk Appetite
Our tax strategy is one of full compliance with legal obligations and to minimise risk and uncertainty whenever possible. If we have any uncertainty as to the correct tax treatment of our commercial transactions, we engage with tax advisors to understand the most acceptable treatment with lowest level of tax risk.
Working with HMRC and other tax authorities
We strive to maintain open and timely communications with HMRC and other relevant authorities. We look forward to working more collaboratively with HMRC in the future as the Group continues to grow.
List of UK entities covered by this Tax Strategy:
- Fevertree Drinks plc
- Fevertree Europe Limited
- Fevertree Limited
- Fevertree Germany Limited
- Fevertree UK Limited
- Fevertree ROW Limited
- Fevertree US Limited