Jellycat’s UK Tax Strategy
This tax strategy applies to Jelly Holdings Limited and its UK subsidiaries (collectively referred to as “Jellycat UK”); and has been prepared in accordance with, Part 2, Schedule 19 of the Finance Act 2016 in relation to the financial year ended 31 December 2025. Taxes covered by this strategy are aligned with the definition of UK taxation in Paragraph 15, Schedule 19 of the Finance Act 2016, whilst the most material taxes for Jellycat UK include corporate taxes, employment taxes, indirect taxes and business rates.
Jellycat was established in 1999 in London. We design and produce luxury soft toys for customers all over the world. We are a UK-based company; our global Head Office is in London and we have overseas operations in China, Europe and the USA.
At Jellycat, our mission is simple: to spread joy across all ages, cultures, and generations - and to do it responsibly. Part of that responsibility is being a fair and transparent taxpayer. We’re committed to meeting all our tax obligations and disclosure requirements in the UK and everywhere we operate.
Tax Governance Framework and Tax Risk Management
Our tax strategy below explains how we manage our responsibilities in a way that meets stakeholder expectations, and maintains and strengthens our reputation.
The Board of Jelly Holdings Limited is responsible for overseeing, approving and ensuring that the tax strategy meets our compliance needs. Our Group Chief Financial Officer (“CFO”) is responsible for the overall execution and management of the tax strategy, and the Global Tax Team, reporting to the CFO, is responsible for overseeing the day-to-day management of our tax affairs.
Upholding the values of integrity and responsibility in our tax affairs and managing tax risk, the Board and the CFO seek to ensure that:
- we have clear policies, processes and business controls to support complete and accurate tax filings to HM Revenue and Customs (“HMRC”); and
- the Global Tax Team and wider Finance teams are resourced with appropriately qualified and skilled professionals, and that these teams are supported by reputable advisers for advice on UK tax matters, keeping up to date on tax technical developments, and to continuously develop our internal controls.
Our Approach to Tax Risk and Tax Planning
We’re committed to doing the right thing - paying the right amount of tax, in full, and on time. Every day, our Global Tax Team and Finance teams work together to review returns, transactions, and processes to make sure we stay on track with this commitment.
Tax is part of the cost of doing business, and we consider it in all major decisions. We don’t enter into arrangements that lack genuine commercial purpose or use artificial structures. Instead, we focus on approaches that are fair, transparent, and aligned with legislation. Where incentives, reliefs, or exemptions are available, we only use those intended by law.
Our Tolerance of Tax Risks
As a global business working across multiple tax jurisdictions, we understand that some level of risk is inevitable given the scale of our operations and the complexity of tax laws.
We work proactively to identify, assess and monitor tax risks as part of our wider approach to managing risk. The Risk Committee documents risks on the Risk Register and ensures documented risks have clear ownership, controls and mitigations. When tax laws are unclear or open to interpretation, we may partner with reputable advisors to make sure we stay compliant across all our operations.
We take a careful and considered approach to deciding what level of tax risk is acceptable, and we work with trusted advisers to make sure our positions align with tax law and best professional guidance.
Working with tax authorities
We work openly and honestly with HMRC and other tax authorities worldwide, aiming for a spirit of co-operative compliance. Our goal is to respond promptly to all information requests, and we take care to ensure that our tax affairs are reported accurately. If disagreements arise, we are committed to resolving them through open discussions with HMRC to maintain our positive working relationship.
In addition, we also comply with the UK’s Senior Accounting Officer (“SAO”) legislation - confirming each year to HMRC that we have strong tax accounting arrangements in place.
