This tax strategy for Likezero Holdings Limited1 (“Likezero”) is published in accordance with Schedule 19 of The Finance Act 2016. It sets out the strategy towards UK taxation adopted by Likezero for the financial year ending 31 December 2023. References to tax include corporation tax, PAYE, NIC, stamp duty land tax, land and buildings transaction tax, stamp duty, stamp duty reserve tax, VAT, and insurance premium tax.
Likezero is a provider of a market-leading software technology to deliver revolutionary real-time, contextualised, contract intelligence to leading financial institutions for enhanced decision-making. Likezero employs a high standard of professional diligence in developing its business. This tax strategy forms part of that approach.
The Directors of Likezero have joint overall responsibility for tax matters. They are experienced and appropriately qualified. They include a highly experienced Chief Financial Officer who is supported by an experienced outsourced accounting team of finance professionals. Expert external legal, accounting, tax and other support is provided on a regular basis by appropriately qualified and regulated firms.
Both ongoing and potential tax risks are regularly considered, discussed and mitigated by this team of people. As part of its investment and business management procedures the Likezero Directors are required to review tax risks, taking advice from qualified advisors as appropriate. The CFO, finance team and advisers communicate with and advise the Likezero Directors on tax affairs and risks on a regular basis.
A system of review, with distinct roles and responsibilities, is in place for Likezero’s statutory tax filings.
The preparation of corporation tax returns is outsourced to appropriately qualified and regulated professional firms and reviewed by both the CFO at Likezero and, if appropriate, the Likezero Directors, prior to submission.
Likezero does not undertake any tax planning which is artificial, contrary to the spirit of the legislation, or considered aggressive by its Directors or its advisers. All transactions undertaken by Likezero have a commercial purpose and the level of tax risk considered acceptable on any transaction is low. The level of risk is considered via discussions with tax advisers.
All Likezero entities are based in the UK.
Likezero does not set targets around effective tax rate and remuneration policies are not linked to
the after-tax results of the business.
Likezero is transparent and honest in its dealings with HMRC. It is committed to making appropriate disclosures for all relevant tax issues, whether that is through the submission of tax returns, responding to requests in a timely manner or, in the case of any inadvertent errors, reporting promptly to HMRC with full disclosure.