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TheHut.com Limited – Tax Strategy (FY25)

Updated: 01/06/2025

THG Ingenuity Background

The Hut.com Limited, trading as THG Ingenuity, provides a range of services to third-party customers, including content creation, marketing, digital commerce, integrated global payment, hosting, access to the courier and logistics networks, plus customer services. 

THG Ingenuity has developed all of its critical infrastructure in-house, with this development supported by a team of technologists that continuously optimise and improve the Ingenuity platform. 

 

Our Approach to Tax

THG Ingenuity is committed to full compliance with all statutory obligations and full disclosure to tax authorities.  The company’s tax strategy reflects its approach to risk management, governance, and its attitude toward tax planning.

 

Our Strategic Principles

Our Approach to Tax is governed by the following key strategic principles, as approved by the THG Ingenuity Directors:

  • To proactively partner with the wider THG Ingenuity business to support the delivery of strategic objectives in a tax-efficient and tax-compliant manner.
  • To continually enhance the tax governance and control framework and proactively manage tax risk in line with the wider risk management policy adopted by the business.
  • To strive to be tax compliant in all jurisdictions in which we operate.
  • To maintain an open and transparent relationship with all relevant tax authorities (including HMRC) in the jurisdictions in which we operate and commit to resolve open matters as efficiently as possible.  This includes current, past and future obligations across all relevant taxes and duties that are in scope for the business.
  • To identify and implement appropriate tax technology solutions to enhance the operational efficiency and effectiveness of the tax function.

 

Our Tax Governance Framework and Team Structure

The responsibility of THG’s overall strategy and governance rests with the THG Ingenuity Directors.  The management and governance of the tax function is delegated to the Tax Department, which is led by the Head of Tax.

  • The Head of Tax reports on a day-to-day basis to the CFO.
  • The Head of Tax is responsible for ensuring that all applicable tax processes and controls are observed, as well as ensuring teams are sufficiently resourced, qualified and trained.
  • The Head of Tax is also responsible for consulting external advisers on a regular basis to ensure the business continues to comply with all underlying legislative and regulatory requirements.
  • THG Ingenuity continually reviews the breadth and depth of tax experience across the team, which currently comprises of 4 full-time tax professionals.
  • THG Ingenuity ensures that appropriate training is carried out for staff who manage, or process matters which have tax implications.
  • The Tax Department reviews additional key areas associated with the tax position, including:
    • Senior Accounting Officer Procedures
    • Corporate Criminal Offence Procedures
    • Standard Operating Procedures

 

Our Attitude to Tax Risk and Tax Planning

  • THG Ingenuity operates globally and as a consequence, the business is exposed to a variety of tax risks, including reputational risk.
  • Overall, the business is unwilling to accept a high level of tax risk and strives to be tax compliant at all times.
  • The Tax Department endeavours to address any material identified tax risks in a timely manner and uses external advisors, where appropriate, to help manage those risks.
  • THG Ingenuity is averse to participating in aggressive tax avoidance schemes. The business will operate in a tax-efficient way in order to maximise stakeholder returns whilst maintaining compliance with current tax legislation.  For instance, it will focus efforts on establishing the level of entitlement to tax incentives, such as the UK’s R&D tax initiative and enhanced capital allowances, while ensuring that these reliefs are used for purposes which are compliant with the intent of the legislation.
  • THG Ingenuity will seek the advice of external advisors when considering the appropriateness of such reliefs/incentives when these are outside of the experience or expertise of the Tax Department or where there is a material degree of uncertainty.