UK tax strategy statement

Introduction

This UK Tax Strategy applies to Rentscore and its UK companies. The UK companies are holding companies that hold the interest in Rentscore.

Our company and business

Rentscore is an organisation dedicated to providing an accurate and objective evaluation of property renting scores for individuals. We are an independent team comprising various arms — property analysts, development, law, and management — and as such we work as a multi-disciplinary team with specialist skills and knowledge in building law, management, and construction.

We support all stakeholders of a property transaction — renters/tenants, guarantors, landlords and creditors — by providing an independent and unbiased evaluation of an individual’s Rentscore, based on the feedback and scoring from landlords who rented their properties in the past to the tenant. We apply a rational, evidence-based approach in our analysis, providing a high standard of care to promote the protection of all stakeholders’ capital.

Our overriding objective is to ensure that parties to a transaction — tenants, guarantors, and landlords — are fully aware of the risks entailed with a prospective tenancy or contract, and thus never suffer any permanent loss of capital. Our mission is to protect your money, hence our rigorous evaluation approaches. In addition to our core values, we pledge each day to be dutiful stewards and promise to uphold the highest standards of professionalism, ethics, and personal responsibility.

Tax governance and risk management

Tax governance and risk management for the UK companies is undertaken by our senior team at board level. The UK companies’ activities and resulting tax liabilities are straightforward and monitored through monthly, quarterly, and annual reporting packages and budget cycles.

Tax advice is sought from professional advisors in relation to significant UK transactions or changes to the business. Day-to-day tax compliance is delivered using reputable outsourced service providers whose activities and outputs are monitored and approved by our senior team.

Tax risk appetite

Rentscore strives for full compliance with all UK tax laws. We have an exceptionally low tax risk tolerance and seek to resolve or avoid areas of uncertainty in our tax affairs. We believe this approach is in line with the interests of all our stakeholders.

Approach to tax planning

Our presence in the UK is part of our global growth strategy, and our UK Tax Strategy is one of cooperative compliance. In line with our values, we do not enter contrived or artificial tax avoidance arrangements or seek to apply tax law in a manner contrary to the intention of the UK Parliament. Inter-company transactions are made on an arm’s-length basis in line with OECD principles, and all relevant reporting requirements are adhered to.

Approach to dealing with HMRC

The relationship between the UK companies and HMRC has to date been limited to the timely submission of tax registrations and returns, and the settlement of any associated tax liabilities.

Approval for this statement

The directors of the UK companies approve this UK Tax Strategy statement.