UK Tax Strategy

Our Commitment to Compliance

Kenwood UK (comprised of Kenwood Appliances Ltd, Kenwood International Ltd and Kenwood Ltd) as the UK presence of the De’Longhi group continues to be committed to conducting its tax affairs in accordance with the following objectives:

Commitment to Compliance

Kenwood UK is committed to considering all laws, regulations, payment and reporting requirements when ensuring full and timely compliance in the UK and beyond. The use of Tax incentives and reliefs (such as those to encourage UK Research and Development) where available will only be used in way that ensures no contradiction with the intent of the ruling.

 
Attitude towards tax planning

Kenwood UK aims to be efficiently organised, focussed on the commercial needs of the markets, customers and wider corporate group. Only Tax planning with a commercial substance will be engaged in and the commitment to uphold the reputation of the De’Longhi group and it’s brands will be at the base of all actions.

Level of tax Risk

Where appropriate advance clearances, with the appropriate tax authorities, are sought due to the clear focus on the minimisation of the tax risks. This would involve discussions with Independent specialist advisors to remove any uncertainty in interpretation of changing tax rules and laws.

 
Working Relationship with HMRC

The company has and will continue to maintain a proactive, open, mutually respectful and honest relationship with HMRC at all times. Kenwood UK recognises the benefits of discussing tax issues and development with HMRC and assists the group’s Customer Compliance Manager (CCM) whenever requested.

[This tax strategy has been approved by representatives of the Kenwood UK and De’Longhi Boards and is considered to be in compliance with the requirements of Schedule 19 Finance Act 2016 and has been reviewed during July 2024]