This page sets out a summary of the Tax Strategy of Worldpay Group plc and its subsidiaries ("Worldpay" or the “Group”) as at 19 July 2017.
We comply with tax law and practice in all of the territories in which we operate, including the UK which is our main place of business. 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 and claiming reliefs and incentives where available.
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 and will have regard to the potential impact on our reputation and broader goals. We will not undertake planning that is contrived or artificial.
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 group’s risk appetite. Where there is significant uncertainty or complexity in relation to a risk, external advice may be sought.
We engage with tax authorities, including HMRC, with honesty, integrity, respect and fairness and in a spirt of co-operative compliance. 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.
This strategy is aligned with the Worldpay Way and is approved, owned and overseen by the Board.
The publication of this statement is regarded as satisfying Worldpay's statutory obligation under Para 16(2), Schedule 19, Finance Act 2016 for the year ended 31 December 2017.