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Crown Oil

UK Group Tax Strategy

Crown Oil

Date: relevant for the financial year ending 31 July 2023

This document is regarded as complying with the duty under paragraph 16(2) of Schedule 19 of the Finance Act 2016 for Crown to publish its tax strategy for its UK companies.

1. Describe the business’s attitude to tax planning and give details relating to UK taxation

Crown aligns any tax planning with the actual commercial activity and aims to expand in a tax efficient manner.  We only undertake tax planning that relates to our business. Crown does not undertake artificial transactions, and we ensure all our activities comply with all applicable laws (including tax laws) which are in place at the relevant time any decision is made.  Where appropriate we engage external advisors to ensure we are fully advised.

2. Describe the business’s approach to tax risk management and governance

We have a limited desire for tax risk and only undertake transactions which have a business purpose.

Crown’s approach is to operate in a responsible manner and we aim to manage tax risks wherever possible both internally and by engaging with external tax advisors. We engage appropriately qualified tax advisors to appraise us of any tax consequences so as the board is fully informed.

3. What is the level of tax risk that the company is prepared to accept.

Crown’s main aim is to apply tax law correctly to all our transactions, and therefore minimise tax risk.  We do not adopt a “tax risk level” we endeavour to comply fully with all relevant legislation in place at the relevant point in time.

We recognise that tax legislation is complex and rely on external advisors for professional advice where required. This reduces uncertainty as far as possible.  We rely on the processes and controls in place to minimise tax risk.

4. Describe the business’s approach to dealing with tax authorities

Crown looks to have an open and honest relationship with the tax authorities.

We have dealt directly with HMRC on numerous occasions and we endeavour to be always transparent and cooperative with all departments within HMRC.

Crown regards the publication of this document as complying with the duty under Schedule 19 of the Finance Act 2016 to publish its tax strategy.

This UK tax strategy was approved by the Board of Crown on 4th March 2024 and is hereby approved by Matthew Greensmith as Chair and, evidencing acknowledgement by Crown management, Jon Taylor as Group Finance Director.

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