Krispy Kreme UK has adopted the following set of tax principles, which will be reviewed and updated at least annually.
Risk Management and Governance
The company's central finance function develops the company's tax policies and processes and ensures that appropriate knowledge is in place. External advisors are used to support the company where additional expertise is required. Tax is the ultimate responsibility of the Chief Financial Officer.
Krispy Kreme UK engages in tax planning to support its business activity and to take responsible and appropriate steps to utilise exemptions and reliefs that are properly available under UK tax legislation, in the manner in which they are intended. The company is committed to complying with all applicable tax laws.
Assessing and Mitigating Risk
The company has a low risk appetite in relation to tax matters, taking external advice on any matters where there is uncertainty. Tax risk is assessed with regard to the company's reputation, integrity and status as a subsidiary of a worldwide group.
Relationship with HMRC
The company is committed to engaging with HMRC proactively in a timely and transparent way to ensure it is compliant with all of its filing and compliance obligations.