UK tax strategy
This document sets out the UK tax strategy employed by Gowling WLG (UK) LLP, its subsidiary companies and its controlled overseas entities. The UK tax strategy has been published in accordance with UK law, and the provisions of Schedule 19 of the Finance Act 2016. In this document, Gowling WLG (UK) LLP will be referred to as "Gowling WLG" or "the firm".
The Gowling WLG tax strategy has been approved by the Executive Board as being an accurate representation of the strategy being implemented by the firm, and the Board has responsibility for ongoing monitoring of its application to ensure that this continues to align with our strategy. This document is periodically reviewed to ensure its continued accuracy and applies to the financial year ended 30 April 2025.
1. Governance
The Executive Board of Gowling WLG has overall accountability for the Firms approach to the management of taxes, including tax risk management and controls, international expansion and business structure.
The Executive Board have delegated day-to-day responsibility of the management of the Firms taxes to the firm's Partner Fund and Tax team, with oversight from the Chief Financial Officer (CFO) who forms part of the Executive Board at Gowling WLG.
Gowling WLG is committed to compliance within tax law and practice. The systems and controls operated by the firm have been designed to help support this and, as a responsible business, we believe in paying the right amount of tax in the right place and at the right time.
2. Tax Risk Management
The Executive Board takes the lead in establishing and maintaining a strong risk management culture, the appropriate governance procedures and internal controls to ensure compliance with all tax obligations.
The CFO updates the Board as appropriate on tax matters which enables the Board to:
- Track the Group's compliance status;
- Have the necessary oversight over the Group's tax risks;
- Ensure tax decisions are made in line with the Group's approach to the management of taxes; and
- Monitor the Group's relationship with HMRC
The specialist Partner Fund and Tax Team manages, maintains and routinely reviews internal systems, processes, risks and controls to deliver compliantly in line with our UK and global tax obligations. The team advises on important, strategic tax issues both in the UK and internationally. As far as is reasonably practicable, the firm actively seeks to identify, evaluate, control and minimise tax risks across all tax processes to ensure compliance with relevant legal obligations, and our strategy of being a responsible business.
Where the firm requires additional specialist knowledge due to uncertainty or complexity, we engage with leading legal and accountancy firms to obtain appropriate professional support.
3. Tax Planning
In recent years, Gowling WLG has experienced considerable international growth resulting in a more complex business structure spanning across multiple jurisdictions. When entering a new jurisdiction, the firm engages with leading local legal and accountancy firms to understand applicable tax laws, compliance obligations and structuring options.
Structural decision-making is driven by regulatory requirements, as well as economic and commercial considerations, and shall remain consistent with our firm reputation and strategy as a responsible business. Gowling WLG will not put in place any arrangements that are contrived, artificial, inconsistent with the intention of any applicable legislation or contrary to antiavoidance legislation.
Where available, the firm will compliantly utilise appropriate tax reliefs and incentives (for instance capital allowances), and look to mitigate against double taxation of the same income across jurisdictions.
4. Working with HMRC
Gowling WLG seeks to have an open, honest and collaborative relationship with HMRC, and views this relationship as a critical part of the managing the firm's tax affairs. We recognize that there can be areas of differing legal interpretation, and where this occurs, we will seek to engage in proactive discussions with HMRC in order to bring matters to an appropriate resolution.
Signature:
David Fennell
Chief Executive Officer
Gowling WLG (UK) LLP
May 2024