HMRC requires a published tax strategy for organisations that fall within either of the definitions below:
1) A UK group, sub-group, company or partnership, that in the previous financial year had one or both of a:
- turnover over £200 million
- balance sheet total over £2 billion
2) UK companies or groups that are part of a Multi-National Enterprise (MNE) group that meets the Organisation for Economic Co-operation and Development’s (OECD’s) ‘Country-by-Country Reporting’ framework threshold of global turnover over 750 million euros.
The NDA Group falls within these definitions and therefore requires a published tax strategy.