Tax Strategy
1. Introduction
Total Security Limited (“the Company”) is a UK-based software as a service business specialising in cybersecurity products and services. The Company operates primarily from the United Kingdom and supplies customers both domestically and internationally.
This Tax Strategy sets out the Company’s approach to managing its UK tax affairs in accordance with Schedule 19 of the Finance Act 2016. It applies to all UK taxes relevant to the Company and is approved by the Board of Directors. The strategy is reviewed at least annually and updated as required to reflect changes in legislation or the Company’s business activities.
2. Tax Risk Management and Governance
Total Security Limited is committed to maintaining a robust tax governance framework to ensure compliance with UK tax law and reporting obligations.
Governance and Oversight
The Board of Directors has ultimate responsibility for the Company’s tax strategy and oversight of tax risk. The Board ensures that tax considerations are appropriately factored into the Company’s strategic and commercial decision-making.
The Chief Financial Officer (CFO) has executive responsibility for the Company’s tax affairs and oversees the management of tax risks. The CFO reviews all significant tax positions and material risks prior to submission to the Board and ensures appropriate escalation and transparency.
The Tax Accountant is responsible for the day-to-day management of the Company’s tax affairs, including compliance with UK and relevant international tax obligations. This includes the accurate preparation, review, and timely submission of tax returns and the payment of taxes due.
Risk Management Framework
The Company operates a tax risk assessment and control framework as part of its wider internal control environment. Tax risks are identified, assessed, and managed to ensure they remain within acceptable levels.
Tax processes and controls are subject to periodic review to reflect changes in legislation, business operations, and transactional activity. Where appropriate, controls are updated to ensure continued compliance and effective risk management.
The Company promotes ongoing training and development to ensure relevant personnel remain informed of changes in tax legislation and HMRC guidance. External professional advice is sought where necessary to support compliance or address complex tax matters.
3. Attitude to Tax Planning
Total Security Limited adopts a responsible and conservative approach to tax planning. The Company seeks to comply fully with UK tax law and does not engage in artificial or aggressive tax planning arrangements.
Tax planning is undertaken only where it supports genuine commercial activity and is consistent with the Company’s business objectives. Any tax planning is based on a clear interpretation of applicable legislation and, where appropriate, supported by external professional advice.
4. Level of Risk Accepted
The Company has a low tolerance for tax risk and seeks to minimise uncertainty in its tax affairs. Tax positions adopted by the Company are aligned with its risk appetite and are supported by a reasonable technical basis.
Where there is uncertainty in the interpretation of tax legislation, the Company evaluates the associated risks and, where appropriate, seeks professional advice or engages with HMRC to obtain clarity.
5. Relationship with HMRC
Total Security Limited seeks to maintain an open, transparent, and constructive relationship with HM Revenue & Customs.
The Company aims to engage with HMRC in a timely manner on significant or complex tax matters and responds promptly to HMRC enquiries. Where errors or inaccuracies are identified in tax filings, the Company takes appropriate steps to correct them and make disclosures in line with statutory requirements.