Huws Gray Tax Strategy

Since our formation in 1990, Huws Gray has developed from a single branch on Anglesey to become one of the largest independent Builders Merchants in the UK.

At Huws Gray we aim to be the customer's one-stop shop; we cover all the bases from below-ground drainage products to bricks and blocks, doors, windows and roofing materials.

This tax strategy sets out the approach to tax of all the UK entities of the Huws Gray Group, and is published in accordance with Paragraph 16 of Schedule 19 of the Finance Act 2016 for the period ended 31 December 2023.  The strategy has been approved by the board of directors, and will be subject to periodic review, and updated as necessary.

Our Approach to Tax

Huws Gray is committed to full compliance with all relevant tax laws and regulations in the UK, and aims to ensure all tax obligations are calculated and paid on a timely basis. The Company engages in reasonable tax planning in line with the nature of our commercial operations, but does not engage in any aggressive tax avoidance schemes.

We are proud to pay our fair share of tax, and seek to have a fully transparent relationship with HM Revenue & Customs across all taxes (defined for the purposes of this published tax strategy by Paragraph 15 of Schedule 19 Finance Act 2016) that the Company is exposed to.

The Company’s tax affairs are discussed periodically by the Board, particularly when large or complex transactions are anticipated.

Governance & Risk Management

The board has delegated responsibility for the management of the Group’s tax affairs to the CFO, who regularly reports to the Board regarding tax compliance and material tax uncertainties.  The CFO is assisted in the day to day management of the Group’s tax affairs by an experienced Finance and HR team, who operate and monitor processes to proactively manage the inherent tax risks that arise in a large business.  These implemented processes help to ensure our compliance with the relevant tax legislation and reporting requirements.

Our internal team are also assisted, to the extent required, by professional advisors.

Engaging with Tax Authorities

Huws Gray seek to have fully transparent working relations with HM Revenue and Customs based on mutual respect and trust.

Where there are complex areas of our tax affairs or we are unsure on the correct interpretation of specific legislation for tax purposes, we engage with our trusted professional advisors to clarify the appropriate tax treatment, and where appropriate, engage with HM Revenue and Customs to gain certainty on the approach taken.

Updated: 31st December 2023