Tax Strategy

This tax strategy document, approved by the HC-One Board, sets out the HC-One’s policy and approach to Income Tax, PAYE and National Insurance, VAT, Corporate Tax, SDLT or LBTT and Withholding Tax. It covers all the UK subsidiaries of HC-One TopCo Limited (see Appendix I) and is made available to the HC-One’s stakeholders.

The document will be periodically reviewed by HC-One’s Tax Manager and any updates or amendments are overseen by the HC-One Audit Committee and to be approved by HC-One’s Board. This tax strategy is effective for the financial year ending 30 September 2023. HC-One regards this publication as complying with the duty outlined under paragraph 19(2) Sch. 19 Finance Act 2016.

HC-One Tax Policy

HC-One’s overall aim is to remain fully compliant to all statutory tax compliance, reporting and governance obligations along with maintaining full disclosure to HMRC and other relevant tax authorities. We believe that this is met through the below policies.

Tax compliance
HC-One is committed to conduct its tax affairs to comply with all relevant laws, rules and regulations and reporting and disclosure requirements. The Group’s tax affairs are managed in a way which considers the Group’s wider reputation and standards of governance.

Tax planning
HC-One aims for certainty regarding the tax positions adopted by the HC-One Group. HC-One seeks to take advantage of available tax incentives, tax reliefs and exemptions, to minimise tax liabilities when conducting our business activities. HC-One will not knowingly enter into artificial tax arrangements.

Minimising tax risk through governance
Our tax matters are reported regularly through HC-One’s Chief Financial Officer who ultimately has the responsibility for tax reporting to the HC-One’s Audit Committee and Board. HC-One believes that by approaching the control of risk in a strategic and organised manner, risk factors can be reduced to a level that is acceptable given their likelihood and impact.

Professional diligence and care are applied to our management of all risks associated with tax matters to evaluate those risks. HC-One’s Tax Manager is a professionally qualified person who oversees the HC-One day-to-day tax matters. Where there is uncertainty as to the application or interpretation of tax law, appropriate advice is taken from third party tax advisors.

Level of risk in relation to UK taxation
HC-One’s policy is to minimise risk wherever possible when conducting our business affairs including tax matters. We actively seek to identify, evaluate, monitor and manage UK tax risks to mitigate such risks. Where there is significant uncertainty or complexity in relation to a risk, third party tax advice is sought.

Relationship with HMRC
It is important part of the tax strategy for HC-One to maintain a transparent and pro-active working relationship with HMRC and are in regular contact with our designated Customer Compliance Manager (CCM). HC-One strongly believes in a good working relationship with HMRC with openness, honesty, integrity, comprehensive, respect and fairness and in a transparent and timely manner. Should any errors be found in the tax computations and returns submitted to HMRC, HC-One will endeavour to inform HMRC as soon as it practically can.  

The HC-One Group has historically undergone a number of corporate and refinancing transactions. HMRC would be notified of any significant corporate transactions and changes in the business and tax clearance, if deemed appropriate, would be sought ahead of such transactions.





Appendix I – List of UK entities
HC-One FinCo Limited
HC-One Holdings Limited
HC-One Management Limited
HC-One Upper Midco Limited
HC-One Intermediate Holdco 1 Limited
HC-One Intermediate Holdco 2 Limited
HC-One Intermediate Holdco 5 Limited
HC-One Alium Holdco Limited
HC-One Properties Group Limited
HC-One Properties 1 Limited
HC-One Properties 4 Limited
HC-One Properties 5 Limited
HC-One Limited
HC-One No.1 Limited
HC-One No.2 Limited
HC-One No.3 Limited
HC-One No.4 Limited
HC-One No.5 Limited
HC-One No.6 Limited
HC-One (NHP1) Limited
HC-One (NHP2) Limited
HC-One (NHP3) Limited
HC-One (NHP5) Limited
HC-One (NHP6) Limited
HC-One (NHP7) Limited
HC-One (NHP8) Limited