BDO complies with its duty under paragraphs 16(2) and 25(1) of schedule 19 Finance Act 2016 through the publication of this tax strategy. This strategy applies to BDO LLP and its UK group subsidiary companies for the year commencing 5 July 2025.
References to ‘BDO’, ‘the firm’, ‘our’ and ‘we’ are to all these group entities.
This tax strategy has been approved by our Executive Board and is in line with our overall strategy and operations.
The Executive Board is responsible for our tax strategy. They have established a Tax Strategy Board, which consists of three senior tax individuals and three senior finance individuals, who are responsible for its implementation. Our Chief Operating Officer chairs the Tax Strategy Board, reporting directly to the Executive Board, and is responsible for preparing our tax strategy.
Identified tax risks are assessed and managed through our day-to-day tax operational framework and escalated to our Executive Board as appropriate. The Executive Board seek to reduce or eliminate any such identified tax risks wherever this is possible and are committed to ensuring we are fully compliant with all our statutory obligations. We aim to file our tax returns on or before their due dates and pay all our tax liabilities on time.
We will always undertake tax planning/ structuring based on sound commercial principles in accordance with the requirements of relevant tax legislation. This includes utilising tax reliefs and incentives as intended by Parliament.
We seek to maintain an open, honest and positive relationship with HMRC, and we will always operate on the basis of full disclosure. We have regular correspondence with our HMRC Customer Compliance Manager.
We are the UK member of BDO International and therefore we conduct our business predominantly in the UK. However, some transactions and operations require the consideration of non-UK tax matters, and we apply the same strategy adopted for UK tax matters, as set out above, to non-UK tax matters.