IG Design Group plc, its subsidiaries and all entities over which it has effective control, together referred to as “the Group”, is one of the world’s leading designers, innovators and manufacturers across various celebration and creative categories. The Group’s principal operations are in the United Kingdom, the United States of America, Europe, Asia and Australia. Our global business activities incur a variety of taxes, including corporate income taxes, state and local taxes, sales taxes, business rates and, in the UK, employer’s national insurance. In addition, we collect and pay employment taxes and indirect taxes such as VAT.
This document sets out the tax strategy of IG Design Group plc and its UK subsidiaries (the UK Group) in effect for the year ended 31 March 2025. It summarises the UK Group’s approach to conducting its tax affairs and dealing with tax risk, and in making this information available the UK Group is fulfilling its responsibilities under paragraph 16(2) of Schedule 19, as per the requirement by paragraph 17(4) of the Finance Act 2016. It covers all UK taxes and duties as set out in paragraph 15 (1), Schedule 19, Finance Act 2016. This tax strategy was approved by the Board of Directors on 27 March 2025 and will be reviewed on an annual basis or as required.
The Group’s tax strategy focusses on both maximising opportunities and minimising risk. The Group has a code of conduct that sets out what is expected of employees and associates and our approach to tax aligns with that. HMRC’s current assessment is that the UK Group’s tax risk rating is low.
1 – Risk management, governance and compliance
The Group is committed to complying with taxation regulations in all jurisdictions in which it operates, and to pay the appropriate amount of tax, in the right jurisdiction, at the right time, in accordance with the letter and spirit of the law. The Group has a low appetite for tax risk.
The governance of the business in relation to tax is led by the Board of Directors, overseen by the Audit Committee, supported by the Group Chief Financial Officer with the aim of ensuring that the Group meets its business and financial obligations.
The Finance Directors (or equivalent) in the individual business units are responsible for dealing with taxation matters in their own jurisdictions and utilise professional advisers where the local teams require support. The business units confirm compliance with local tax legislation and highlight any risks to the Group Finance team at a regular cadence. This process is utilised by the Group to evaluate potential tax risk indicators that could affect their low-risk appetite. The Audit Committee are notified of key tax matters.
Where tax matters impact the Group as a whole, the facilitation and compliance of those matters, is led by the Group Chief Financial Officer, with the support from the Group Finance team. Professional advisers are used, where it is deemed necessary, for complex or non-routine tax matters.
2 – Attitude towards tax planning
Design Group seeks to comply with taxation laws in the jurisdictions in which it operates and manages its affairs to minimise the risk of non-compliance. The Group does not undertake artificial tax planning which has no commercial purpose. Where applicable, the Group does utilise legitimate tax reliefs, exemptions and incentives where available and intended by the legislation.
Professional advice is sought on non-routine and complex tax matters that may arise or where there is any doubt in relation to the interpretation of tax law.
3 – Working with tax authorities
The Group seeks to ensure that all interactions with tax authorities wherever we operate around the world are conducted in an open, honest and professional manner.
As a UK Headquartered organisation, the Group has specific obligations in respect of its relationship with HMRC. In compliance with this the Group commits to:
- Maintain an open and collaborative relationship with HMRC through regular dialogue and discussing tax matters in a timely manner.
- Make fair, accurate and timely disclosure in correspondence and returns, and respond to queries and information requests in a transparent and timely manner.
- Where inadvertent errors may occur, they are dealt with as soon as possible, with full disclosure to HMRC or other relevant tax authorities.
- Interpret relevant laws in a reasonable way, consistent with a collaborative relationship.