Tax Approach

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src="/globalassets/investors/annual-report-2022/jt-new/taxpagebannernew-1.jpg" alt="A photo of a calculator"> </picture> <div class="multiHeroBody">  <div class="heroCol position-tl textLight"> <div class="multiHeroBodyWrap"> <div class="wysiwyg"> <h1>Tax</h1> <p class="large">Our approach to tax seeks to balance the interests of all our stakeholders, including shareholders, governments, colleagues and the communities in which Informa operates.</p> <p>Informa takes a principled and low-risk approach. We commit to paying our taxes in full and on time, in compliance with the letter and intent of the laws of countries in which we operate, and to manage tax in a responsible manner to optimise returns for shareholders.</p> <p>This section explains our Global Tax Policy and how we manage tax affairs throughout the Group.</p> </div> </div> </div>  <div class="heroCol position-center textDark"> <div class="promoBlock colour-scheme8"> <div class="promoBlockImage"> <a href="/investors/Annual-Report/" > <img alt="Front cover of the 20223 Annual Report - a woman climbing stairs with a spotlight on her" src="/globalassets/investors/annual-report-2023/ar2023-divpromo.jpg" /> <h2 class="promoBlockTitle" >2023 Annual Report</h2> </a> </div> </div> </div> </div> </div> </div></div></div></div><div class='section section_addPaddings' style='' ><div class='section-wrap'><div class='grid '><div class="col-12 "> <div class="wysiwyg"> <h2>Approach</h2> <p class="w-intro">Paying tax is an integral part of our commitment to the societies in which we operate. Taxes help governments provide vital services and infrastructure, which we in turn rely on to run the Group successfully. A fair and effective tax system is in the interests of tax-payers and society at large. Our approach to managing our tax affairs is:</p> <div class="section"> <div class="section-wrap"> <div class="grid"> <div class="col-2"> <div class="wysiwyg"> <p style="text-align: center;"><img src="/globalassets/global/tax/tax-announce.jpg" alt="" width="287" height="287" /></p> <p style="text-align: center;"><strong>To make transparent tax disclosures that meet all regulatory requirements and reflect best practice</strong></p> </div> </div> <div class="col-2"> <div class="wysiwyg"> <p style="text-align: center;"><img src="/globalassets/global/tax/tax-legal.jpg" alt="" width="287" height="287" /></p> <p style="text-align: center;"><strong>To comply with and follow the spirit of the law in the countries where we operate</strong></p> </div> </div> <div class="col-2"> <div class="wysiwyg"> <p style="text-align: center;"><img src="/globalassets/global/tax/tax-convo.jpg" alt="" width="287" height="287" /></p> <p style="text-align: center;"><strong>To engage constructively and openly with local and national tax authorities</strong></p> </div> </div> <div class="col-2"> <div class="wysiwyg"> <p style="text-align: center;"><img src="/globalassets/global/tax/tax-globe.jpg" alt="" width="287" height="287" /></p> <p style="text-align: center;"><strong>To pay our taxes in the jurisdictions where our revenue-generating activities take place and not to transfer profits or value to low tax jurisdictions or use tax havens.</strong></p> </div> </div> <div class="col-2"> <div class="wysiwyg"> <p style="text-align: center;"><img src="/globalassets/global/tax/tax-money.jpg" alt="" width="287" height="287" /></p> <p style="text-align: center;"><strong>To use tax incentives and exemptions only where appropriate and to only engage in reasonable tax planning that is aligned with our commercial and economic activities.</strong></p> </div> </div> </div> </div> </div> <p> </p> <p>We take a low risk approach to tax planning and adopt a consistent standardised approach to intercompany transactions using the arm’s length principle in line with OECD guidelines. This approach limits the likelihood of disputes with tax authorities and reduces the risk of unexpected tax liabilities.</p> <p>Tax risks can also arise from ongoing business activity. We operate a regular risk review process to identify if trading activity is giving rise to tax risk and how it can be remedied.</p> <p>When interpretation of law is uncertain, we seek to discuss the issue with HMRC (or other tax authority as appropriate) at the time or refer to it when tax returns are filed, depending on the significance of the matter.</p> </div> </div><div class="col-12 "> <div class="wysiwyg"> <hr /> </div> </div><div class="col-12 "> <div class="wysiwyg"> <h2>Contributions</h2> <p class="w-intro">Informa made a total tax contribution of £510.3m in 2023, of which £131.4m was made in the UK.</p> <p>Total tax contribution is made up of the taxes borne by the Group plus other taxes generated as a result of our business operations, where we collect tax on behalf of others and provide it to the relevant government tax authorities.</p> <p>The most significant taxes borne by the Group are corporation tax and equivalent taxes outside of the UK, and employer social security contributions.</p> <p>The taxes we collect for others include net payments of VAT and similar taxes outside of the UK, employee income tax deducted at source and employee social security contributions deducted from pay.<br /><br /></p> <div class="respTblOuterWrap"> <div class="respTblInnerWrap"> <table class="table-responsive responsiveTable table"> <tbody> <tr> <td class="tablehead"> </td> <td id="highlight uk" class="tablehead" style="text-align: right;"> <p>UK</p> <p>£m</p> </td> <td id="highlight us" class="tablehead" style="text-align: right;"> <p>US</p> <p>£m</p> </td> <td id="highlight other" class="tablehead" style="text-align: right;"> <p>Other</p> <p>£m</p> </td> <td id="highlight total" class="tablehead" style="text-align: right;"> <p>Total</p> <p>£m</p> </td> </tr> <tr> <td>Corporation Tax and Other Profit Taxes</td> <td id="Corporation Tax and Other Profit Taxes UK" style="text-align: right;">20.4</td> <td id="Corporation Tax and Other Profit Taxes US" style="text-align: right;">37.4</td> <td id="Corporation Tax and Other Profit Taxes Other" style="text-align: right;">54.6</td> <td id="Corporation Tax and Other Profit Taxes Total" style="text-align: right;">112.4</td> </tr> <tr> <td>Employment Taxes</td> <td id="Employment Taxes UK" style="text-align: right;">30.8</td> <td id="Employment Taxes US" style="text-align: right;">28.0</td> <td id="Employment Taxes Other" style="text-align: right;">16.7</td> <td id="Employment Taxes Total" style="text-align: right;">75.5</td> </tr> <tr> <td>Other Taxes</td> <td id="Other Taxes UK" style="text-align: right;">4.0</td> <td id="Other Taxes US" style="text-align: right;">0.3</td> <td id="Other Taxes Other" style="text-align: right;">1.9</td> <td id="Other Taxes Total" style="text-align: right;">6.2</td> </tr> <tr> <td id="Total Taxes Borne"><strong>Total Taxes Borne</strong></td> <td id="Total Taxes Borne UK" style="text-align: right;"><strong>55.2</strong></td> <td id="Total Taxes Borne US" style="text-align: right;"><strong>65.7</strong></td> <td id="Total Taxes Borne Other" style="text-align: right;"><strong>73.2</strong></td> <td id="Total Taxes Borne Total" style="text-align: right;"><strong>194.1</strong></td> </tr> <tr> <td> </td> <td style="text-align: right;"> </td> <td style="text-align: right;"> </td> <td style="text-align: right;"> </td> <td style="text-align: right;"> </td> </tr> <tr> <td>VAT and Other Sales Taxes Collected</td> <td id="VAT and Other Sales Taxes Collected UK" style="text-align: right;">0.6</td> <td id="VAT and Other Sales Taxes Collected US" style="text-align: right;">4.2</td> <td id="VAT and Other Sales Taxes Collected Other" style="text-align: right;">51.0</td> <td id="VAT and Other Sales Taxes Collected Total" style="text-align: right;">55.8</td> </tr> <tr> <td>Employee Income Tax Deducted at Source</td> <td id="Employees' Income Taxes Deducted at Source UK" style="text-align: right;">61.3</td> <td id="Employees' Income Taxes Deducted at Source US" style="text-align: right;">84.5</td> <td id="Employees' Income Taxes Deducted at Source Other" style="text-align: right;">50.2</td> <td id="Employees' Income Taxes Deducted at Source Total" style="text-align: right;">196.0</td> </tr> <tr> <td>Employee Social Security Contributions</td> <td id="Employees Social Security Contributions UK" style="text-align: right;">14.3</td> <td id="Employees Social Security Contributions US" style="text-align: right;">24.4</td> <td id="Employees Social Security Contributions Other" style="text-align: right;">25.7</td> <td id="Employees Social Security Contributions Total" style="text-align: right;">64.4</td> </tr> <tr> <td id="Total Taxes Collected by Informa on Behalf of Governments"><strong>Total Taxes Collected by Informa on Behalf of Governments</strong></td> <td id="Total Taxes Collected by Informa on Behalf of Governments UK" style="text-align: right;"><strong>76.2</strong></td> <td id="Total Taxes Collected by Informa on Behalf of Governments US" style="text-align: right;"><strong>113.1</strong></td> <td id="Total Taxes Collected by Informa on Behalf of Governments Other" style="text-align: right;"><strong>126.9</strong></td> <td id="Total Taxes Collected by Informa on Behalf of Governments Total" style="text-align: right;"><strong>316.2</strong></td> </tr> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td id="Total Tax Contribution"><strong>Total Tax Contribution</strong></td> <td id="Total Tax Contribution UK" style="text-align: right;"><strong>131.4</strong></td> <td id="Total Tax Contribution US" style="text-align: right;"><strong>178.8</strong></td> <td id="Total Tax Contribution Other" style="text-align: right;"><strong>200.1</strong></td> <td id="Total Tax Contribution Total" style="text-align: right;"><strong>510.3</strong></td> </tr> </tbody> </table> </div> </div> <p>The amounts shown above are actual amounts paid in 2023, which may include amounts arising from other years. Amounts paid in currencies other than sterling have been converted at the average exchange rate.</p> </div> </div><div class="col-12 "> <div class="wysiwyg"> <hr /> </div> </div><div class="col-12 "> <div class="wysiwyg"> <h2>Governance</h2> <p class="w-intro">External tax advice is sought on matters of uncertainty when in-house resource is not sufficient. This can occur when we do not have relevant experience in the tax issues or in the jurisdiction involved.</p> <p>The Global Tax policy is provided to all Informa Colleagues, and more detailed guidance given to those working in Finance roles that have a direct connection with tax matters.<br />Specific training is additionally provided to relevant Colleagues in relation to the corporate criminal offence of failure to prevent the facilitation of tax evasion.</p> <p> </p> <ul class="w-halfs"> <li class="w-bg"> <h3>The Audit Committee</h3> <p>Informa’s Audit Committee Is responsible for the Group’s Global Tax Policy and ensuring our principles and approach are adhered to. The <span class="searchHighlight">Tax</span> Policy is approved by the Audit Committee annually The Audit Committee last approved the <span class="searchHighlight">Tax</span> Policy in March 2024</p> </li> <li class="w-bg"> <h3>Group Tax Director</h3> <p>The Group Tax Director manages the tax function. This team has close contact with finance leaders in each of Informa’s Divisions and Shared Service Centres</p> </li> <li class="w-bg"> <h3>The Group Tax Committee</h3> <p>The Group Tax Committee oversees the day to day management of tax policies and standards. This comprises the Group Finance Director, General Counsel & Company Secretary, the Group Tax Director and Group Treasurer</p> </li> </ul> </div> </div><div class="col-12 "> <div class="wysiwyg"> <hr /> </div> </div><div class="col-12 "> <div class="wysiwyg"> <h2>Further Information</h2> <div class="grid"> <div class="col-8"> <div class="wysiwyg"> <p>Taken in full, this section explains our approach to tax affairs and includes information we are required to publish under the UK Finance Act 2016 (S161). It was last updated on March 2024.</p> <p>The Financial Review section in the Informa 2023 Annual Report, along with Note 2 to the Financial Statements, includes more detail on how the Group accounts for tax and tax payments.</p> <p>For questions or further information, contact Informa's <strong>Group Tax Director</strong></p> </div> </div> <div class="col-4"> <div class="wysiwyg" style="background: #e0e8eb; padding: 20px;"> <p><strong>Nick Perkins</strong><br /><strong>Group Tax Director</strong><br />Informa Group PLC<br />5 Howick Place<br />London<br />SW1P 1WG<br />UK</p> <p><strong>Telephone:</strong> +44 (0) 20 8052 0400</p> </div> </div> </div> </div> </div></div></div></div></div>  <footer class="footer"> <div class="wrap"> <div class="footerTopLinks"> <ul class="footerLinks"> <li> <a href="/contact-us/" class="cta-contact" > Contact Us </a> </li> <li> <a href="/contact-us/office-locator/" class="cta-location" > Office Locator </a> </li> </ul> <ul class="socialLinks"> <li> <a title="Email Alerts" class="icon i-email" href="/generic-content/latest-informa-news/" > Email Alerts</a> </li> <li> <a title="LinkedIn" class="icon i-linkedIn" href="https://www.linkedin.com/company/informa" target=_blank rel=noopener> LinkedIn</a> </li> <li> <a title="Twitter" class="icon i-twitter" href="http://twitter.com/informaplc" target=_blank rel=noopener> Twitter</a> </li> </ul> </div> <div class="footerMiddleLinks"> <ul> <li><a href="/about-us/">About Us</a></li> <li><a href="/divisions/">Divisions</a></li> <li><a href="/investors/">Investors</a></li> <li><a href="/sustainability/">Sustainability</a></li> <li><a href="/talent/">Talent</a></li> <li><a href="/media/">Media</a></li> <li><a href="/contact-us/">Contact</a></li> </ul> </div> <div class="footerBottomLinks"> <ul> <li> <a href="/generic-content/accessibility/" target="_top" rel="noopener">Accessibility Statement</a> </li> <li> <a href="/generic-content/terms--conditions/" target="_top" rel="noopener">Terms & Conditions</a> </li> <li> <a href="/privacy-policy/" rel="noopener">Privacy Policy</a> </li> <li> <a href="/generic-content/cookie-policy/" rel="noopener">Cookie Policy</a> </li> <li> <a href="/generic-content/modern-slavery-statement/" target="_blank" rel="noopener">Modern Slavery Statement</a> </li> <li> <a href="/site-map/" rel="noopener">Site Map</a> </li> </ul> <p class="registerText">Informa PLC registered in England & Wales with number 8860726, registered office and head office 5 Howick Place, London, SW1P 1WG, UK. 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Tax Approach