Radwell - Tax Strategy (UK)

Introduction

Radwell is a leading international business that stocks and sells new and surplus industrial and electrical equipment for plant floor and facility maintenance machinery, together with associated repair capabilities. Our primary focus is on the development of products and services that lead in the marketplace and reinvesting in ourselves to ensure constant improvement in the service we offer.

This tax strategy is prepared by Radwell International-Europe Ltd (‘Radwell Europe’) and sets out its approach, and that of all its UK subsidiaries (‘collectively the ‘UK group’), to its tax affairs. It shapes the company’s attitudes towards tax and sets out how we deal with the associated risks.

This tax strategy document has been fully approved by the Radwell Europe’s board before being published. Radwell Europe regards the publication of the information set out below as complying with the duty under Finance Act 2016, Schedule 19, para 16 (duty to publish a tax strategy) for the year ended 31 December 2026. This strategy will be formally reviewed annually by the Radwell Europe’s board members and updated accordingly.

Approach to governance and tax risk management

Radwell as a global organisation is committed to maintaining high standards by following sound principles of corporate governance. Our board of directors and senior management are responsible for ensuring our business is conducted and managed in a responsible manner. Radwell’s tax risk management policy for the UK is set by the Director of Finance for Radwell Europe in collaboration with US senior management to ensure consistency throughout the group.

Radwell aims to identify and actively manage the inevitable tax risks that arise from time to time due to the size and global nature of our business. On key decisions regarding tax, the UK group will consult with US senior management as well as external advisors. Where appropriate we will discuss matters with HMRC. We take a conservative approach to tax and aim to always be fully compliant with HMRC’S regulations.

We seek to continually improve the processes and controls to ensure we have a robust system in place that underpins our tax reporting.

Tax Planning:

Radwell is committed to always paying the correct amount of tax that is legally due balanced with its duty to maximize return to its shareholders. We have a stringent attitude towards tax planning. Our formal policies towards tax planning are led by the US board of directors which considers the full scope of the group when building its tax policy.

The UK group does not engage in tax planning that is considered in any way artificial or contrary to the purpose of tax law. We take tax advice from trusted external advisors when it comes to any significant transactions or where the tax legislation is complex or uncertain. This is in order for us to always remain within the regulations that HMRC set out in regard to tax.

HM Revenue and Customs relationship:

Radwell is committed to filing all tax submissions within the filling deadline. Within these submissions we make full disclosure of all the relevant material facts and figures to provide clarity to HMRC of the approach taken.

Radwell seeks to maintain an honest and open relationship with HMRC. We want to be fully compliant with their rules and regulations at all times. We aim to be proactive and deal with any matters arising with HMRC as quickly as possible.