Tax Strategy of Consumer Thoughts Limited

Year Ended 31 December 2024

Business Strategy and Tax Strategy Vision

Consumer Thoughts Limited is dedicated to pursuing a strategy focused on profitable growth with the overarching objective of becoming a leading digital company. Responsible and transparent corporate governance is regarded as a fundamental element of management, aiming to enhance the company's value sustainably. Consumer Thoughts Limited is dedicated to efficiency and transparency, embodying core values of creativity, entrepreneurial spirit, and integrity in all its endeavours, not limiting its self-image to economic success alone.

Consumer Thoughts Limited's UK business operations incur various taxes, including corporate income taxes, business rates, and employer's national insurance. Additionally, the business collects and remits employment taxes and indirect taxes such as VAT. This tax strategy encompasses all UK taxes.

Consumer Thoughts Limited's overall tax vision is to deliver value to key stakeholders in a sustainable and compliant manner, growing our business efficiently and with integrity.

Tax Strategy Objectives

Consumer Thoughts Limited manages tax affairs by focusing on the following objectives:

Approach to Tax Risk Management and Governance

This tax strategy is overseen by the Tax Department, with senior management of Consumer Thoughts Limited responsible for its implementation. Consumer Thoughts Limited aims for its tax affairs to comply with UK tax legislation, with directors committed to ensuring tax compliance.

Consumer Thoughts Limited has an established risk management process embedded within the organisation to support the identification and effective management of risks, including tax risks. The company actively reviews and updates its tax reporting, tax risk management, and governance processes, including how tax risks are identified, assessed, and mitigated. The UK-specific tax risk management framework, which captures key tax risks to mitigate them through effective controls, is also regularly reviewed.

The Finance Team of Consumer Thoughts Limited is accountable for ensuring all tax filings are made timely and comply with UK tax law, and any required tax payments are made punctually. All individuals with tax responsibilities are suitably qualified to understand tax issues and stay updated through training and advice from tax advisors.

The Tax Department reviews all material corporate transactions, consulting external advisors when necessary to properly assess and manage significant tax-related risks.

Attitude Towards Tax Planning

Consumer Thoughts Limited's attitude towards tax risk and planning aligns with its strategic and commercial objectives. The company does not engage in aggressive tax planning arrangements. While Consumer Thoughts Limited aims to comply with all applicable UK laws and regulations, it will consider the most tax-efficient means of conducting business transactions to deliver value to stakeholders, where appropriate. The company utilises available tax reliefs, incentives, and exemptions, including tax deductions on capital investments, only if they align with commercial and economic activities and the spirit of the law.

Consumer Thoughts Limited’s tax activities shall not compromise its ethical principles or damage its reputation.

Level of Tax Risk Acceptable

Consumer Thoughts Limited’s appetite for tax risk is low, structuring operations based on sound commercial principles. The company acknowledges that eliminating all tax risk is impractical due to the complexity of tax legislation. However, it is committed to identifying and monitoring relevant tax risks within the UK through a tax risk management and governance framework, which includes risk identification, assessment, and mitigation, with escalation to the relevant company board when necessary. Controls to reduce or avoid tax risks are monitored as part of this process.

Approach to Dealings with Tax Authorities

Consumer Thoughts Limited is committed to openness and transparency in all dealings with HMRC, seeking a proactive relationship that encourages open dialogue. In cases where tax law is unclear or open to interpretation, the company will consult external tax advisors to ensure compliance in all operations. Where applicable, Consumer Thoughts Limited will work with HMRC to resolve any differences in a timely and professional manner.

This published tax strategy satisfies Schedule 19 of the UK Finance Act 2016.