Apollo Group Holdings Limited UK Tax Strategy for the year ended 31 December 2022
Apollo Group Holdings Limited is a parent entity within the Apollo group. The principal activities of its subsidiaries is that of a specialist Insurer and Reinsurer which provides services and participates on Lloyd’s Syndicates.
Apollo is committed to being a responsible business and a compliant taxpayer.
The Apollo groups tax strategy supports the way we operate, our culture and how we conduct business.
This tax strategy applies to Apollo Group Holdings Limited and its UK subsidiaries.
How the business manages UK tax risk
The responsibility for our tax affairs rests with our Chief Finance Officer who is a member of our senior executive team and director of Apollo Group Holdings Limited.
The day-to-day tax management is delegated to the Finance team who have in place a framework of governance and controls and who are supported by external tax advisors to ensure professional diligence.
This governance framework includes:
- Senior management review and oversight
- Policies and Proceedures
- Robust processes and controls to minimise the risk of error
- Staff training and continuous professional education activities
- Engagement with external advisors and legal counsel for technical
- support and feedback
Tax returns are prepared by our appointed tax agent and reviewed by senior management.
Management of employee related tax is delegated to the Chief of Staff and the Human resource department.
Structuring our tax affairs
Business structures are based on commercial purposes that do not seek to gain a tax advantage and comply with anti-abuse legislation; we take external advice on all tax matters.
We seek to utilise tax reliefs only as intended by parliament.
Our approach to risk
We have a low tolerance for tax risk and have in place controls to mitigate them, we seek to rectify any errors that may arise in the ordinary course of our business.
Approach of dealing with tax authorities
Apollo recognises the importance of a cooperative, open, and transparent relationship with HMRC.
Legislation
This tax strategy has been reviewed and approved by the Apollo Group Board and regards its publication as complying with the duty under paragraph 16(2) Schedule 19 of the Finance Act 2016.