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UK Tax Policy

Believing that excellence in business and high ethical standards go hand in hand, PPG is committed to acting with integrity at all times and being true to its values.
 
Governance
PPG manages tax (including uncertainties and risks) in line with its Global Code of Ethics, Corporate Governance Guidelines and risk management procedures.

PPG’s experienced tax professionals are in constant dialogue with the business finance functions and senior management and are the focal point for all tax matters. The tax professionals in the UK are supported by PPG’s corporate tax department.

PPG has robust internal control policies, processes and training to ensure there is alignment across businesses, tax obligations are met, and to ensure in-house tax professionals are appropriately qualified and up to date.    

These robust policies and processes support the Senior Accounting officer in certifying to HM Revenue & Customs (“HMRC”), the UK’s taxing authority, that there are appropriate tax accounting arrangements and internal controls.

This tax policy is approved and overseen by the Board.
 

PPG's Approach to Tax Planning
PPG tax management reflects the legal, commercial and regulatory environment in which the businesses operate with a view to maximising value on a sustainable basis for shareholders and employees, such as ensuring PPG is not taxed multiple times on the same profits or transactions.

All decisions within PPG are taken after careful consideration of all the facts, issues and potential impacts to align with business strategy and applicable law and regulations.

PPG adheres to relevant tax law and seeks to minimize the risk of uncertainty or disputes.
 
 
Tax Risk Management
Given the size and scale of our business, tax risks may arise from time to time due to the complexity of taxes, changes in laws, and the variety and volume of different taxes that affect business activities.

PPG’s tax professionals identify, assess and manage tax risks by using their knowledge of the operations and tax laws to ensure taxes are accounted for appropriately.  PPG considers reputation and corporate social responsibility as well as purely financial impacts.  We do not have a predefined limit of the amount of acceptable risk, we judge this on an issue by issue basis.

When there is a need for specialist guidance and support in relation to tax planning or areas of complexity or uncertainty external tax advisors are involved.

PPG conducts transactions between PPG group companies on an arm’s length basis and in accordance with OECD principles.
 
Interaction with Tax Authorities
PPG has an open, transparent and constructive relationship with HMRC. PPG updates its HMRC Customer Relationship Manager (CRM) on a regular basis about business developments and to exchange views and insights on tax matters.   PPG supplies information HMRC may require on a timely basis.
 
Where tax laws are unclear or subject to interpretation advance clearance from HMRC or professional advice will be sought to ensure that PPG’s position is in line with applicable law and regulations.
 
PPG regards this document as complying with its duty to publish a UK group tax strategy for the year ending 31 December 2017 in accordance with the requirements of the Finance Act 2016. This document applies to all PPG companies subject to tax in the UK.
 
Dated: 20th December 2017