The following outlines the Tax Strategy for Global Media & Entertainment Ltd and its UK subsidiary group members.
It has been made publicly available in accordance with the requirements of Paragraph 16 (2) of Schedule 19 of the Finance Act 2016.
It has been approved by the Board of Directors of Global Media & Entertainment Limited and is effective for the year ending 31 March 2026 and will be reviewed by the Board annually.
The UK Group’s approach to risk management and governance arrangements
The Group takes its obligations to ensure tax compliance seriously. The Board has overall responsibility for setting the Group’s tax strategy, overseeing its implementation, and managing tax risk.
We aim to pay the right amount of tax, in the right place and at the right time.
The Group has an in-house tax function which is staffed with qualified and experienced tax professionals and which reports to the Group CFO as a representative of the Board. The CFO escalates all material tax risks to the Board.
The adequacy of the tax accounting arrangements for each Group company are overseen by a Senior Accounting Officer (SAO) who operates independently of the tax function.
The Group’s attitude towards tax planning
As part of its wider considerations, when structuring its commercial activities, the Group takes into account the impact on taxation.
We will not undertake transactions solely for tax reasons that have no commercial purpose, or that are contrived or artificial.
Where tax law is unclear or the correct treatment is uncertain, we will engage professional advisers to support the positions taken where they are material.
The level of risk in relation to UK taxation that the Group is prepared to accept
Given the size and scale of the Group’s businesses, tax risks may arise from time to time. Where material, the Board considers the level of acceptable tax risk on a case-by-case basis in the context of the Group’s wider business strategy and its stakeholders.
The Board is kept informed of any material tax risks by the CFO who regularly meets with and discusses such risks with the in-house Head of Tax and the Group’s external advisors.
The approach of the group towards its dealings with HM Revenue and Customs (HMRC)
We engage with HMRC constructively, honestly and professionally. Where disputes arise, we seek to resolve these through open and active dialogue with HMRC.
The in-house tax team engages regularly with the Customer Compliance Manager and the broader team at HMRC.