Klarent Tax Strategy

The Klarent Hospitality Group (“Klarent”) is one of the UK and Ireland’s leading hotel investment and hospitality management groups. This tax strategysets out the approach to tax of all the UK entities, including UK permanent establishments, of Klarent.

The strategy has been approved by the board of directors, and will be subject to periodic review, and updated as necessary. We consider this document to meet the requirements of Schedule 19 of the Finance Act 2016. Governance & Risk Management

Klarent have implemented procedures and processes to proactively identify tax risks and manage and monitor our compliance with the relevant tax legislation and reporting requirements.

These processes are managed on a day-to-day basis by our experienced group finance function. The Group CFO and Group Director of Finance has overall responsibility for the oversight and management of the tax affairs of the Group, and regularly reports to the Board regarding tax compliance and material tax uncertainties.

Our Approach to Tax

Klarent are committed to complying with applicable tax laws, rules, regulations and disclosure requirements, making use of government offered reliefs and incentives to enhance shareholder value, whilst ensuring the reputation of the group is not compromised. Our approach is to be tax compliant and to operate in a tax efficient manner, paying the correct amount of tax at the appropriate time based on the prevailing tax laws, rules and regulations.

We do not engage in artificial tax arrangement lacking economic or commercial substance. Engaging with tax authorities Klarent seek to have constructive and transparent working relations with tax authorities based on mutual respect and trust. Where we are unsure on the correct interpretation of a transaction for tax purposes, we engage with professional advisors to clarify the correct treatment, and where appropriate, engage with tax authorities to gain certainty on the approach taken.

Publication date: January 2022