AGS Tax Strategy
AGS Airports Holdings Limited and its subsidiaries (“AGS”) Tax Strategy
This report provides an overview of AGS’s tax strategy in accordance with the requirements of paragraph 19(2) of Schedule 19 of The Finance Act 2016.
A list of entities to which it applies is set out below:
- AGS Airports Holdings Limited
- AGS Airports Investments Limited
- AGS Airports Limited
- Airports Holdings NDH1 Limited
- BAA Lynton Limited
- AGS Airports Pension Trustee Limited
- Aberdeen International Airport Limited
- Glasgow Airport Limited
- Southampton International Airport Limited
This strategy document was reviewed on 21st November 2019 and applies from the date of publication until it is superseded.
AGS tax arrangements
AGS pays a range of taxes in the UK, including Corporation Tax, Employment Taxes, VAT, Insurance Premium Tax and Business Rates.
Our tax policy is to operate both within the letter and spirit of the UK’s tax laws at all times.
Approach to tax governance and risk management
AGS conducts its business through its three UK airport sites, with no overseas operations.
AGS operates a system of tax risk assessment and controls as a component of its overall risk management and internal control framework.
We manage risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax at the right time.
Ultimate responsibility for AGS´s tax strategy and compliance rests with the Board of Directors. The Chief Financial Officer maintains executive responsibility for tax matters and for fulfilling compliance requirements.
Attitude to tax planning and level of risk
AGS seeks to reduce the level of tax risk arising from its operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all processes which could materially affect its compliance with its tax obligations.
As part of our business and commercial operations we seek to utilise available tax reliefs, incentives and exemptions in line with both the intent and letter of tax legislation.
AGS does not undertake tax planning inconsistent with its commercial objectives.
The level of risk that AGS is willing to accept in relation to UK tax is consistent with its overall objective of achieving certainty in its tax affairs.
We will seek external tax advice where necessary to ensure the right amount of tax is determined in any complex circumstances.
Relationship with HMRC
AGS seeks to have a transparent, honest and constructive relationship with HMRC. Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.
For more information on the AGS Group visit www.agsairport.co.uk