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MJT Securities and Laindon Holdings are the holding companies for a number of companies with businesses primarily in the automotive retail sector but also with interests in contract hire and leasing, house building and exporting.
This document sets out the strategic tax objectives of these companies and their subsidiaries ('the Group').
The group operates effective tax governance, understanding the tax risks in place and ensures that senior personnel with the appropriate skill and experience are involved in key tax decisions.
The group uses third party advisors to provide advice and guidance necessary to assess tax risks and ensure its compliance with applicable laws, rules, regulations and reporting and disclosure requirements.
The group wants to ensure that it pays an appropriate amount of tax in relation to its commercial activities. It does not engage in aggressive tax planning arrangements, and believes that it is conservative in its approach to tax planning, applying tax rules and regulation in a way that it considers is consistent with Parliament's intention, and HMRC expectations.
We seek to be efficient in our tax affairs and ensure that any planning is based on sound commercial principles.
We take advantage of the reliefs and incentives that exist but show respect for the intention of the law, as well as the letter, at all times. The use of reliefs and incentives to minimise the tax costs of conducting our business will only be made where the group reasonably believes they do not contradict the spirit of the law, or are inconsistent with the underlying economic consequences. The group does not undertake marketed avoidance and will not establish business in tax havens.
In dealing with HMRC the group is committed to working in a collaborative, transparent and proactive way at all times. We adopt the principles of openness and transparency and believe in engaging in full, open and early dialogue with HMRC to discuss the group's tax affairs. The group aims to make fair, accurate and timely disclosure in correspondence and returns, and respond to queries raised by HMRC in a timely manner with the aim of resolving issues quickly and efficiently.