Introduction
Acuity Knowledge Partners is a leading provider of high-value research, analytics, automation technology and business intelligence to the financial services sector, in domains such as investment banking, investment research, private equity, consulting, and commercial lending.
The principal activities of Acuity are providing investment research and analytical support services on an outsourced basis to the stock broking arms of investment banks and the research departments of institutional money and hedge finds.
We EMPOWER our clients to drive revenues higher. We INNOVATE using our proprietary technology and automation solutions. Finally, we enable our clients to TRANSFORM their operating model and cost base.
This Tax Strategy sets out Acuity Knowledge Partners’ (‘Acuity’ or the ‘Group’) approach to UK taxation that aligns to the wider Group approach to tax.
Our overall approach to tax also sits alongside our approach to Corporate Social Responsibility and our Code of Conduct that is at the heart of our business responsibility agenda. The Group is committed to strong tax administration that includes accurate and timely filing of returns and payment of taxes as well as conducting our tax affairs ethically and with integrity.
This tax strategy is prepared in line with Schedule 19 Paragraph 19(2) of Finance Act 2016 in respect of the financial year ending and applies to all UK entities 31 December 2024. The tax strategy was approved by the UK Board of Directors on 26 March 2024.
Tax governance and risk management
Acuity is committed to strong compliance and takes the necessary steps to ensure tax obligations are met and supported including by maintaining appropriate tax accounting arrangements. The overall responsibility and oversight for tax rests with the Board, who are supported by the Global Head of Tax. The day-to-day responsibility for tax matters is primarily held by the Group CFO and is supported by the Global Head of Tax and an experienced finance team that includes the Group Financial Controller who is the Senior Accounting Officer (SAO).
We ensure that the finance and tax team are appropriately resourced. For example, this includes the CFO, the Group Financial Controller (SAO) and other relevant individuals holding responsibilities, professional qualifications and appropriate experience that is commensurate to their day-to-day roles and responsibilities in relation to tax. The Group seeks guidance both from internal stakeholders and external reputable tax advisors, particularly where the tax law is complex or uncertain. We act in accordance with the advice provided and ensure that the Group remains compliant with its UK tax obligations.
The Executive Committee or Group Board of Directors as part of the management of the business, meets periodically (e.g., monthly) to discuss and oversee the performance of the Group. This forum, where appropriate, will also include reporting and/or escalation of any significant tax matters.
Approach to tax risk
Our vision and values, as well as our Code of Conduct, govern how we manage our tax affairs. We adopt a conservative low risk approach to tax, which is aligned to the Group’s broader approach to enterprise risk. In line with this, we take steps to identify, assess, and monitor key tax risks; ensuring commensurate mitigation strategies are in place.
Acuity has a zero-tolerance approach to tax evasion or the facilitation of tax evasion.
UK tax planning
Acuity’s approach to tax planning is aligned to its approach to tax risk as set out above. The business only undertakes transactions that are consistent with and support our strategic objectives.
We utilize statutorily available reliefs and comply with all relevant tax rules, regulations, and their intended spirit. We act with integrity and do not engage in artificial or contrived arrangements. The Group will seek guidance and advice, on areas of complexity to ensure certainty over its tax affairs.
The Group monitors changes to relevant tax legislations and HMRC guidance including being aware of new tax legislation or HMRC guidance announced. The business will then consider how the changes or any new tax legislation or HMRC guidance announced will impact the Group to ensure the Group’s tax position or tax affairs are manged proactively.
Approach towards our dealings with HMRC
Acuity is committed to working with HMRC in an open, honest, and collaborative manner. We seek to work collaboratively with HMRC, providing timely updates on any commercial developments and events that may have a tax impact.
As outlined above, we engage with HMRC or our external advisors on areas of uncertainty and/or matters of complexity. Our approach, based on legal grounds, includes full and open engagement with HMRC in relation to the affairs of the business across all applicable taxes.