Klarent Hospitality Group
UK Tax Strategy
(Published in accordance with Schedule 19, Finance Act 2016)
Introduction
The Klarent Hospitality Group (“Klarent”) is one of the UK and Ireland’s leading hotel investment and hospitality management groups.
This tax strategy sets out Klarent’s approach to taxation in respect of all UK entities within the Group, including UK permanent establishments. It applies to all relevant UK taxes.
This strategy has been approved by the Board of Directors, is subject to periodic review, and will be updated as necessary to reflect changes in the Group’s business or in tax legislation. Klarent considers this document to comply fully with the requirements of Schedule 19 to the Finance Act 2016.
Governance and Risk Management
Klarent has established appropriate governance, procedures and internal controls to proactively identify, assess, manage and monitor tax risks and to ensure compliance with all relevant tax legislation and reporting obligations.
Day‑to‑day management of the Group’s tax affairs is undertaken by an experienced Group finance function with the support of external professional advisors. Overall responsibility for oversight and management of tax matters rests with the Group Chief Financial Officer and Group Financial Controller, who report regularly to the Board on tax compliance matters and any material tax risks or uncertainties.
Where appropriate, Klarent engages external professional advisers to support the interpretation and application of complex or uncertain areas of tax law.
Approach to Tax Planning
Klarent is committed to complying with all applicable tax laws, rules, regulations and disclosure requirements in the jurisdictions in which it operates.
The Group seeks to conduct its affairs in a tax‑efficient manner, including making use of legitimate reliefs, incentives and exemptions made available by governments, where appropriate, and where consistent with the Group’s commercial objectives.
Klarent does not engage in artificial or aggressive tax arrangements that lack commercial substance or that are inconsistent with the intent of the relevant tax legislation. Tax considerations support, but do not drive, business decision‑making.
Attitude to Tax Risk
Klarent seeks to pay the correct amount of tax, in the appropriate jurisdiction, and at the appropriate time, based on a reasonable interpretation of the relevant tax laws.
The Group only undertakes transactions where any material tax risks are understood, assessed and appropriately managed. Where there is uncertainty in the interpretation of tax law, Klarent will seek professional advice and adopt a balanced and responsible approach.
Protecting Klarent’s corporate reputation and maintaining the confidence of stakeholders, including tax authorities, investors and lenders, is a key consideration in managing tax risk.
Relationship with HM Revenue & Customs and Other Tax Authorities
Klarent seeks to maintain open, constructive and transparent relationships with HM Revenue & Customs (“HMRC”) and other relevant tax authorities, founded on mutual trust and professional respect.
Where uncertainty exists regarding the tax treatment of a transaction, Klarent will engage professional advisers and, where appropriate, engage proactively with tax authorities to obtain clarity or certainty on the approach adopted.
The Group aims to respond to tax authority enquiries in a timely, accurate and cooperative manner.
Publication
This tax strategy is published in accordance with Schedule 19 of the Finance Act 2016 and will remain publicly available until it is replaced by an updated strategy.
