Jellycat’s Tax Strategy
This tax strategy applies to Jelly Holdings Limited and its subsidiaries. It has been prepared in accordance with, and to meet its duty under, Part 2, Schedule 19 of the Finance Act 2016 in relation to the financial year ended 31 December 2024. It includes Corporation Tax, PAYE, National Insurance, VAT, customs and excise duties and business rates. References to “Jellycat” in this document refer to this entity and its subsidiaries.
At Jellycat, we believe in Sharing Joy and we can only do that by being a responsible and compliant taxpayer. Jellycat is committed to compliance with all of its statutory tax obligations and disclosure requirements in the UK and around the world.
Tax Governance Framework and Tax Risk Management
Our tax strategy below sets out how we manage this in a way that meets the expectations of our stakeholders and maintains our reputation.
The Board of Jelly Holdings Limited is responsible for overseeing, approving and ensuring that the tax strategy meets our compliance needs. The Global Finance Director is responsible for the overall execution and management of the tax strategy, and the Global Tax Team, reporting to the Global Finance Director, is responsible for overseeing the day-to-day management of our tax affairs.
Upholding the values of integrity and responsibility in our tax affairs, the Board and the Global Finance Director seek to ensure:
- we have clear tax policies, business controls and finance processes;
- the Global Tax Team and wider Finance teams are suitably resourced with qualified and skilled professionals, and that these teams are supported by reputable advisors for advice on UK tax matters, keeping up to date on tax technical developments, and to continuously develop our internal controls;
- we identify and raise tax matters when considering new and existing business opportunities and activities through our existing finance review processes.
Our Approach to Tax Risk and Tax Planning
Jellycat’s commitment to tax compliance is to ensure we pay the right amount of tax in full when it falls due. On a day-to-day basis, the Global Tax Team and wider Finance teams review our tax returns, transactions and dealings to ensure we meet this commitment.
As a cost of doing business, tax is considered in all major business decisions. At Jellycat, we do not enter into arrangements which we feel lack commercial purpose or are artificial. Any incentives, reliefs and exemptions adopted are those which are as permitted and intended by tax legislation.
Our Tolerance of Tax Risks
As a global business operating in multiple tax jurisdictions, Jellycat recognises there will inevitably be a level of risk in what we do given the size of our business and the complexity of tax laws. We seek to proactively identify uncertainties and risks, and engage reputable advisors to seek advice and develop controls to mitigate these uncertainties. We take a prudent approach in determining the level of acceptable tax risk, and we adopt positions we believe to be consistent with the law and in line with external professional guidance we may receive.
Working with tax authorities
We work with HM Revenue and Customs (“HMRC”) and other tax authorities around the world openly, honestly and in a spirt of co-operative compliance. We seek to respond to all information requests in a timely manner. We are committed to resolving any disagreements through open discussions as we strive to ensure the strongest working relationship with HMRC.
In addition, for the financial year ended 31 December 2024 onwards we adhere to the Senior Accounting Officer (“SAO”) legislation in the UK which requires the SAO to confirm to HMRC annually on whether our internal tax processes are appropriate.
