Published on: July 31, 2024
Introduction to Intuit’s UK Tax Strategy:
Scope
This strategy applies to Intuit Limited (UK), which is referred to throughout as “Intuit UK” in accordance with paragraphs 16(2) and 19 of Schedule 19 of the Finance Act 2016.
The financial statements for year ended July 31, 2024, require the publication of this strategy document, which will be reviewed regularly and revised whenever necessary. The document relates to all taxes listed in paragraph 15 of Schedule 19 of the United Kingdom Finance Act 2016.
Governance, risk management and risk tolerance in relation to UK taxation:
Ultimate responsibility for Intuit UK’s tax strategy and compliance rests with the Board of Intuit UK. Responsibility for setting and implementing Intuit’s global tax strategy and managing Intuit’s global tax risks is delegated by the Board to the Head of Global Tax. The Head of Global Tax reviews Intuit’s overall tax strategy and risks with Intuit’s Chief Financial Officer and Chief Accounting Officer on a quarterly basis; and with the Audit Committee periodically. A team of qualified experienced in-house tax and finance professionals manage Intuit’s routine tax matters. Intuit uses external tax advisors for guidance about UK tax laws that are new, complex, or uncertain.
Risk management and level of risk
Intuit is committed to complying with the tax laws and regulations in all countries in which it operates, including the UK. To ensure compliance and minimization of tax risks, we actively seek to identify, evaluate, and monitor tax risks through policies, processes and internal controls including continuously monitoring business and tax legislation changes.
Intuit’s Tax team is staffed with appropriately qualified tax professionals and training is carried out for staff outside of the Tax team who manage, or process matters which have tax implications. Where required, advice is sought from external advisers.
Intuit’s risk tolerance with respect to UK taxation is consistent with its overall objective of achieving certainty on tax positions.
Attitude of the business toward tax planning (affecting UK taxation):
Intuit aligns its tax planning with its worldwide commercial activities and business objectives. An Intuit value, integrity without compromise, guides our approach to compliance with tax laws and regulations for both tax planning and compliance in all jurisdictions that Intuit operates, including the UK.
When entering into commercial transactions, Intuit UK seeks to take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. Intuit UK does not undertake tax planning unrelated to such commercial transactions.
Approach toward dealings with HMRC (Her Majesty’s Revenue & Customs):
Intuit is committed to maintaining a professional, open, and transparent relationship with tax authorities in all jurisdictions in which it operates, including the UK. Intuit engages with tax authorities, including the HMRC, with honesty, integrity, transparency, respect, and fairness.
When submitting tax computations and returns to HMRC, Intuit UK discloses all relevant facts and identifies any transactions or issues where it considers that there is potential for the tax treatment to be uncertain.
Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.
Date of Publication: 21 July 2024
