Introduction to Tax Strategy

This document sets out the tax strategy for Pertemps Network Group Ltd (“Pertemps) and subsidiaries. It is set by the Group Finance Director and Head of Tax and they will jointly monitor the effectiveness and review the implementation of this policy.

The tax strategy is primarily of relevance to the Board of Directors, the Audit Committee and all members of the UK Group Tax Department. It is also of relevance to all finance, legal and operational personnel at Pertemps whose decisions have tax consequences.

The approach to managing our tax affairs, as set out in this Tax Strategy document, is approved by Stephen Mogano, Group Finance Director.

Specific HM Revenue & Customs (“HMRC”) requirements for a published tax strategy

The Finance Act 2016 requires the published tax strategy of a business to cover four specific requirements:

• The approach to risk management and governance arrangements in relation to UK taxation;
• The attitude to the group towards tax planning relating to UK taxation;
• The level of risk in relation to UK taxation the group is prepared to accept;
• The approach of the group towards its dealings with HMRC.

Pertemps considers the above requirements are all considered and addressed in this document, and the Tax Strategy applies to the Group and is published in accordance with paragraph 16(2) of Schedule 19 of the Finance Act 2016.

The Tax Strategy is reviewed in accordance with the Act and this version is for the financial period ending 31 March 2024. The Tax Strategy is reviewed annually.

Our approach to tax risk management and governance arrangements in relation to UK taxation

Given both the size and scale of the Pertemps group of accompanies, risks will inevitably arise from time to time.

• The Group’s approach to tax risk is founded on the principle of being a responsible and low-risk taxpayer.
• The Head of Tax and Senior Accounting Officer are responsible for ensuring that appropriate tax policies, processes and systems are in place and that these are reviewed for operational effectiveness.
• The Group Tax Department is adequately staffed, has clearly defined roles, and has the required skills and support to carry out their role effectively. Regular training is provided to ensure tax staff can identify and manage the tax risks faced by the Group. External tax support is considered where a certain level of risk is identified.
• We act in accordance with and seek to comply with the spirit and the letter of the law. Through established risk management procedures, we ensure all UK tax requirements are met including the filing of all UK tax returns and the settlement of UK tax liabilities.
• Tax forms part of the factors considered when accounting for investment opportunities, to ensure that all decisions are made with the knowledge of all future associated tax costs. It is important all Group business operations receive the appropriate level of tax support and the UK Group Tax department aim to be involved in all stages of material and/or tax sensitive transactions from initial planning through to post implementation.

The Attitude to the Group Towards Tax Planning Relating to UK Taxation

Pertemps will utilise tax incentives or opportunities for obtaining tax efficiencies where these:

• Are aligned with the intended policy objectives of the relevant government; and
• Are aligned with business or operational objectives.

The Group recognises there are occasions where more than one tax outcome could arise in commercially motivated transactions. We will not however wilfully engage in tax schemes or structure transactions in such a way that we believe are artificial and/or contrary to the spirit and the clear intentions of the tax legislation concerned.

The Level of Risk in Relation to UK Taxation that the Group is Prepared to Accept

Pertemps does not have any appetite for breaching tax laws or allowing customers or its supply chain to use its services to evade tax.

The acceptable nature of tax risk we are prepared to take is inextricably linked to the level of business risk we are prepared to take, which in itself is aligned to Pertemps’ commercial, reputational and business practices.

In this regard, various factors will always be considered including, but not limited to, the financial impact, the impact on corporate reputation / brand and the impact on relationships with external stakeholders.

The Group also understands the reliance it places on the Group’s Tax Department to ensure appropriate tax risks are managed.

The Approach of the Group Towards its Dealings with HMRC

Pertemps seeks to maintain an open and transparent relationship with HMRC and other tax authorities (where applicable) by:

• keeping them informed of business activities and key developments are they arise and proactively disclosing issues;
• responding to their questions and enquiries in a timely manner;
• engaging on consultations relating to matters affecting our Group or industry at large;
• meeting with them regularly to maintain our relationship through scheduled ‘Risk Review’ meetings or other periodical matters.

Mr Stephen Mogano

Group Finance Director / Senior Accounting Officer

21 March 2024