This tax strategy has been prepared in accordance with requirements detailed at paragraph 19(2) Schedule 19 Finance Act 2016. This statement is applicable to the tax strategy of Calibre UK Ltd in the United Kingdom for the financial year ending 31 December 2018.
Introduction
Calibre provides image scaling technology for use with large LED videowalls primarily used for award ceremonies, rental / staging and advertising, and for image scalers for professional projection applications. We are led by our parent Coretronic Corporation, based in Taiwan.
Calibre provides product development with technology centres in Bradford and Hannover, and sales, marketing and production from our Bradford location.
Our tax strategy, as set out by our board of directors and summarised below, is based on our strong ethical values as defined by our parent company’s commitment to business integrity and probity.
Tax Planning
We have a low tolerance to tax risk and seek to comply with all tax legislation and the spirit of the law.
We are committed to ensuring that our tax strategy is aligned with business and commercial strategy and that tax planning opportunities are evaluated within clear risk parameters and reflect the group’s existing internal governance and compliance policies.
External tax advisers are employed to provide assistance with regard to certain tax matters and we would consult with HM Revenue and Customs where appropriate to obtain certainty of treatment.
Relationships with HMRC
We seek to be open and transparent in all dealings with the UK tax authorities and wherever possible have open dialogue with HMRC. The company endeavours to respond timely and completely to requests for information from tax authorities. If any enquiry from HMRC were to arise, the company would endeavour to respond in a timely manner to any requests for information and would work as quickly and collaboratively as possible in order to resolve such matters.
Approach to risk management and governance
Tax is managed day to day by the General Manager. The Chief Financial Officer would approve any changes to policy, as well as providing supervision and guidance. The company will seek professional advice on tax matters where needed to support the knowledge of the finance team.
We have well developed and established internal controls. We report our results on a monthly basis to our parent company in Taiwan, and undergo annual audits to ensure the policies and procedures that support our approach are in place, maintained and are followed to ensure strong governance.