Shearings Leisure Group - Tax Strategy

Shearings Leisure Group Limited (“SLG”) is a British hotel and leisure travel company specialising in escorted tours, short breaks, events and river cruises throughout the UK, Europe and worldwide. The Group has a diverse portfolio of owned and managed UK hotels and a collection of sector leading travel brands that offer holidays by coach, rail, river and air.

This Tax Strategy is published by SLG in respect of all UK entities within the Group. The strategy has been approved by the board of directors, and will be subject to periodic review, and amended where appropriate.

Governance & Risk Management

To ensure compliance with relevant tax laws and to minimise errors within our tax reporting, SLG has implemented procedures in relation to taxation, which are managed by appropriately trained individuals within our Finance and Human Resources teams, under the control of the CFO, who has ultimate responsibility for the management of the SLG tax strategy.

Given the nature of our business, tax risks will inherently arise during the delivery of our commercial activities. Where there is uncertainty on the correct approach to be taken, we engage with professional advisors to mitigate these risks. Where material tax uncertainties arise, these are raised and discussed at Board level.

Our Approach to Tax

SLG’s approach to tax is to adopt a low risk strategy which is based on being compliant with our tax reporting requirements and paying the right amount of tax in accordance with the relevant laws and regulations, taking advantage of government offered reliefs and allowances. We will not enter into transactions that are not based on our commercial objectives.

Engagement with HMRC

SLG seeks to maintain an open and honest relationship with tax authorities, meeting with HMRC on a regular basis to discuss tax.

Where there is uncertainty on taxation matters, SLG engage with professional advisors for advice on the correct approach for tax, and where appropriate, engage with HMRC to gain certainty on the approach taken on a real time basis

This tax strategy has been published in accordance with Schedule 19 of the Finance Act 2016.

30th December 2018.

Shearing Leisure Group