UK Tax Strategy
Year ending 30th June 2020
UK Tax Strategy Statement
The Tax Strategy Statement for Ramsay Health Care UK Limited and its UK subsidiaries, (together “Ramsay Health Care UK”) is published in accordance with the requirements of paragraph 19(2), Schedule 19, Finance Act 2016, and has been approved by the Board of Directors (the “Board”) for the year ended 30th June 2020.
Ramsay Health Care UK is ultimately wholly owned by Ramsay Health Care Limited, a public company listed on the Australian stock exchange.
Ramsay Health Care UK is one of the largest providers of independent hospital services in the UK, providing a comprehensive range of medical and surgical treatments to privately insured and self-pay patients as well as patients funded by the National Health Service.
This document will be periodically reviewed by Ramsay Health Care UK finance team and any amendments will be approved by the Board of Directors.
Risk management and governance arrangements
The Board’s role includes ensuring that high standards of tax corporate governance are maintained. Part of exercising good tax corporate governance involves the establishment of a strong framework for identifying, assessing and managing tax risk.
We apply professional diligence and care in the management of all risks associated with tax matters, and ensure governance and assurance procedures are appropriate and robust. This includes policies, procedures and the maintaining of appropriate tax accounting arrangements under the Senior Accounting Officer (“SAO”) obligations. The SAO is supported by senior finance personnel, (which includes a corporate financial controller & tax accountant) and in addition, where appropriate, by external specialist tax advisers to ensure compliance with respect to developments in tax legislation.
Ramsay Health Care UK ensures that its approach to UK taxation is at all times consistent with the group’s overall tax strategy and core values whilst managing tax risk proactively.
Approach to tax planning
Ramsay Health Care UK acts with integrity and complies with all the relevant laws, rules, regulations and disclosure requirements. Ramsay UK will use statutory reliefs, exemptions and incentives in a manner consistent with tax legislation and the spirit of the tax law.
The Board recognises the need to articulate and disseminate the acceptable level of tax risk tolerance. In this regard, Ramsay Health Care UK adopts a proactive and transparent low risk approach to UK taxation and in its engagement with HMRC. The tolerance of tax risk is low.
Ramsay UK’s approach to tax planning is consistent with that adopted by its parent company Ramsay Health Care Limited.
Approach to dealing with Her Majesty Revenue & Customs (“HMRC”)
Ramsay Health Care UK adopts an open, professional and honest relationship with HMRC based on the concepts of integrity, collaboration and mutual trust. The relationship with HMRC is overseen by the SAO. The SAO, and members of the senior finance team regularly meet with the Customer Compliance Manager, (“CCM”) which includes providing the CCM updates on business developments.