Riverside

The Riverside Group Statement of Tax Policy
May 2025

Approved by the Group Board

On this page:

The Riverside Group Limited (“TRGL”) is not subject to the Senior Accounting Officer rules (“SAO”) as a Community and Benefit Society, as opposed to an incorporated company.  However, TRGL (and the wider group of Riverside companies) voluntarily seek to ensure compliance with the SAO rules as a matter of best practice, consistent with HMRC’s 2016 guidance. We seek to build and maintain open and transparent relationships with HMRC and to work collaboratively with them in real time to reduce our level of tax compliance risk.

Processes, activities, transactions and controls in relation to different taxes are reviewed by the Director of Treasury and Corporate Finance and the Group Tax Manager to identify key tax risks. The key risks are monitored for changes in business and tax legislation, and where required, processes and controls are updated accordingly.

By regularly reviewing our tax affairs and tax risk management procedures, we ensure that the tax strategy continues to be aligned with our overall business strategy and governance framework.

TRGL recognises that eliminating tax risks entirely is impossible.  Therefore, the group seeks to reduce the level of tax risk arising from its operations as far as is practically reasonable by implementing various measures including:

• Strong compliance procedures ensuring accurate and complete tax returns are prepared and submitted on time;
• Ensuring all decisions are taken at an appropriate level and supported with documentation that evidences the facts, conclusions and risks involved;
• Taking appropriate professional advice on substantial or particularly complex transactions;
• Maintaining open and transparent relationships with HMRC; and
• Ensuring the most effective tax elections, claims and options are made thereby ensuring the group does not pay more tax than is required by current tax legislation and practice.

The Board will review the Tax Strategy at least every three years and, where necessary, recommend and approve any changes required to remain compliant with all tax legislation and current best practice.

Riverside recognises its obligation to pay the right amount of tax, especially UK tax, in accordance with the legislative provisions and guidance issued by HMRC (and overseas jurisdictions if applicable).  However, as an exempt charity, TRGL also seeks to be efficient with its tax affairs so as to maximise the funds available to support its core charitable objectives. TRGL’s appetite for tax risk is low, so it does not engage in tax planning that is not aligned to meeting its charitable purposes.  Riverside’s operations mean that the Group is not currently subject to tax in any other jurisdiction than the UK.

The tax strategy of the Group is driven by simplicity, transparency and ensuring that the tax reliefs, allowances and tax exemptions to which the Group is properly entitled are claimed in the manner intended by statute and HMRC. All tax planning is built on sound commercial business activity; the Group does not believe in using artificial tax arrangements to take advantage of legal but essentially questionable loop holes in tax legislation.

Due consideration is given to the Group’s reputation, brand, corporate and social responsibilities when considering tax planning, as well as the fiduciary duties of the Group Board, Executive Directors and employees. In circumstances where tax uncertainty is identified, or where it is considered that there is insufficient internal expertise, the Group will seek external advice to assist with resolving the uncertainty and concluding on the appropriate tax treatment for the submission of returns to HMRC.

The Group seeks to reduce the level of tax risk arising from its operations as far as is practically reasonable by implementing various internal controls and procedures for the business to follow.

Processes, activities and transactions in relation to different taxes, including the controls relating to them, are reviewed regularly to identify key tax risks. These key risks are then monitored for changes in business operation and legislation, with the processes and controls then updated accordingly. As it does with other business risks, the Group Board considers significant tax risks as part of its oversight of the Group’s activities.

By regularly reviewing its tax affairs and tax risk management procedures, the Group ensures that its tax strategy continues to be aligned with its overall business strategy and governance framework.

The Group is committed to developing a transparent, collaborative and positive working relationship with HMRC.  Riverside values the on-going dialogue it has with HMRC which allows the business to keep HMRC aware, at an early stage, of significant transactions and/or changes in the business which may have significant tax implications.

The Group takes a proactive approach in the event that any inadvertent errors in respect of tax matters are identified, ensuring they are disclosed to HMRC as soon as is reasonably practicable.

The Group has been appointed a Customer Compliance Manager (“CCM”) by HMRC and engages in regular dialogue with both the CCM, designated VAT Inspector and other relevant tax specialists within HMRC.

This Statement of Tax Policy, to be published externally via our website and which has been approved by Group Board, satisfies Section 161 and Paragraph 16(2) Schedule 19 of the UK Finance Act 2016, in respect of our financial years ending 31 March 2026.