The Vaillant Group is a 100% family-owned global leader in the development of high-efficiency heating, cooling and hot water products and solutions.
Courage, Integrity and Passion are the central values that shape the Vaillant Group’s culture. The result is a corporate culture that is worthy of the name – and that makes an essential contribution to our company’s sustainable success.
This document, approved by the UK Board, sets out the approach of the UK group of companies to conducting its tax affairs.
This document has been prepared in accordance with schedule 19 of the Finance Act 2016, paragraph 16(2).
The UK Commitment to Tax Compliance
The Vaillant Group has developed a core set of corporate values based on Integrity, Courage and Passion. These values shape the identity of the company and are a reflection of its culture. These values are also embodied in the way that tax is handled within the business.
The UK Group adheres to the following tax principles, in line with those followed by Group:
- To effectively manage tax risk through a robust governance and control framework.
- To comply with all applicable Laws and Regulations
- To uphold Vaillant’s reputation and ensure sustainable growth.
- To avoid artificial tax planning schemes but take advantage of reliefs or incentives that are legally available. Our Group will seek to maintain its record for being an honest and responsible taxpayer, in paying the right amount of tax.
- To reduce the level of risk to an acceptable level that ensures compliance in its tax affairs and reduces any risk to reputation.
- To develop and maintain a transparent and honest working “partnership” with the tax authorities.
- To seek external advice for transactions where specialist knowledge is required or where there will be a material impact to our business.
|Board of Vaillant Group UK Ltd
|Finance Director UK & Ireland
|Senior Tax Manager
|Frequency of Review
|Date of Next Review