Tax Strategy

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The Contractor Co-op’s tax strategy reflects its status as a business which requires strong governance and consideration of our reputation. Our tax strategy also reflects our status as a worker co-operative, which requires strict compliance with tax laws for the security and benefit of all our members.

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The Contractor Co-op is committed to full compliance with The Criminal Finances Act 2017 (CFA) and has taken steps to mitigate the risk of tax evasion by any party in the supply chain. The Co-operative will not engage in any schemes to evade tax (e.g. offshore schemes, loan schemes, annuities, job board schemes) and will not allow any employee to use such scheme. Where a scheme advertises “90% take home pay” or similar then HMRC would no doubt argue that any employee would be aware that such a scheme was set up to evade tax.

 

In pursuit of this the Contractor Co-op is committed to:

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• applying due diligence and care in our management of the processes and procedures by which all tax related activities are undertaken, and ensuring that our tax governance is appropriate;

• staying within the spirit of legislation and only using incentives for their intended purpose;

• following all applicable laws and regulations relating to its tax activities;

• ensuring that staff is adequately trained on the CFA;

• maintaining an open and honest relation with the relevant tax authorities; and

• engaging third parties to advise on complying with legislation and mitigating tax risk.

 

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