Worldpay Tax Strategy
This page sets out the Tax Strategy of Worldpay International Group Limited and its subsidiaries ("Worldpay" or the “Business”) as at 16 December 2019 as it applies to taxes and in particular UK taxes. Worldpay considers that this document fulfils the duty to publish a tax strategy under paragraph 19(2) of Schedule 19 of the Finance Act 2016 in the current financial year.
Our approach to UK tax risk management and level of acceptable UK tax risk
Given the scale of our business and volume of tax obligations, risks will inevitably arise from time to time in relation to the interpretation of tax law and nature of our compliance arrangements. We proactively seek to identify, evaluate, manage and monitor these risks to ensure they remain in line with the Business’s risk appetite. Where there is significant uncertainty or complexity in relation to a risk, external advice may be sought.
We comply with tax law and practice in all of the territories in which we operate, including the UK. Compliance for us means paying the right amount of tax in the right place at the right time and involves disclosing all relevant facts and circumstances to the tax authorities when responding to audits and enquiries, and claiming reliefs and incentives where available.
Our attitude to UK tax planning
In structuring our commercial activities we will consider – among other factors – the tax laws of the countries within which we operate with a view to maximising value on a sustainable basis for our shareholders. Any tax planning undertaken will have commercial and economic substance. We will not undertake planning that is contrived or artificial.
Our approach to working with HMRC
We engage with tax authorities with honesty, integrity, respect and fairness and in a spirit of co-operative compliance in light of the disclosure obligations we are subject to. We are prepared to litigate where we disagree with a ruling or decision of a tax authority but will first seek to resolve any disputed matters through pro-active and transparent discussion and negotiation.