Nando’s Group Holdings Limited (‘’NGHL’’) Tax Strategy 2018

1. Who we are

Principal activities

The principal activity of the Nando’s Group is that of operating fast casual dining restaurants (both company-owned and franchise) and the sale and distribution of sauces and condiments through the retail channel. The principal activity of Nando’s Group Holdings Limited (“NGHL”) is that of a holding Company for the globally-consolidated business.

About Nando's

Many have tried to pinpoint what makes our flame grilled PERI- PERI chicken so addictive, but it’s no easy task. It could be because it’s more than flavour and taste that are important to us.

Nando’s is more than PERI-PERI and chicken. It’s about the people who work for us and the communities we touch. Inspired by our adventurous spirit and our values of Pride, Passion, Courage, Integrity and Family, Nandocas – the name for people who work at Nando’s – are like a big extended family. At Nando’s, we love the fact that everyone is different, which is why everyone is welcome at our table!

We’d like to think that the fact that Nando’s has been named the Best Large Company to work for in the UK, is not just testament to this belief, it says a lot about how amazing our Nandocas are.

Our priority as a business is to give our customers a consistently excellent Nando’s experience through the delivery of operational excellence and Nandocas who are empowered to do that.

2. Aim

Nando’s Group Holdings Limited (‘’NGHL’’) has a strong commitment to be a responsible business, the group’s purpose, ethics and business values underpin the group’s approach to tax. We aim to pay all taxes which are due on time and manage our tax affairs in a responsible and transparent manner.

NGHL is committed to acting with integrity and transparency in all tax matters. Compliance with applicable tax law is therefore of paramount importance and we recognise that maintaining adequate systems and processes is critical to achieving this.

3. Scope

This strategy document applies to Nando’s Group Holdings Limited (“NGHL”) and to the group of companies of which NGHL is the holding company in accordance with paragraph 19 of Schedule 19 to the Finance Act 2016 (“the schedule”). A list of the entities to which it applies is set out below. In this strategy, references to ‘NGHL’ or ‘the group’ are to all these entities. The strategy has been published in accordance with paragraph 16(4) of the Schedule.

This strategy applies from the date of publication until it is superseded and applies to NGHL and the list of UK entities more fully described in the appendix below. References to ‘UK Taxation’ are to the taxes and duties set out in paragraph 15(1) of the Schedule which include Income Tax, Corporation Tax, PAYE, NIC, VAT, Insurance Premium Tax, and Stamp Duty Land Tax. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties for which NGHL has legal responsibility.

4. Attitude to tax planning and level of risk

The Group has a low risk appetite and this is mirrored in the Group’s approach to tax.

NGHL defines tax risk as the risk of adverse implications arising for the Group as a result of the failure to manage tax appropriately. This risk comprises: tax compliance and reporting risk and reputational risk.

Tax compliance and reporting risk – this is the risk arising from the failure to submit timely and accurate returns, payments, claims and elections, or where controls and systems are insufficient to support the Group’s tax obligations, thereby exposing the Group to penalties, additional tax, audit investigations and inaccurate reporting.

Reputational risk – this is the risk to the Group’s reputation in the opinion of tax authorities, shareholders, customers and the general public, as a result of failure to mitigate tax compliance and reporting risks.

When entering into commercial transactions, the Group benefits from available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. All transactions must have a commercial purpose and make sense from an operational perspective. The Group does not enter into transactions where the main purpose would involve the benefit of a tax advantage.

5. Approach to governance in relation to UK tax

Responsibility for NGHL’s tax affairs, decision making and approvals rests with the relevant finance director with ultimate oversight from the NGHL board of directors. The Group finance team is responsible for ensuring all appropriate tax returns are completed in an accurate and timely fashion and for ensuring that that the level of tax risk arising from operations is reduced as far as reasonably practicable.

The Group’s central finance team collaborates with all finance and operations staff to provide advice and guidance necessary to ensure compliance. All tax submissions are reviewed by appropriate personnel and approved by senior finance personnel before filing with HMRC.

We routinely use independent tax advisors for compliance related matters and seek appropriate tax advice where necessary.

We recognise the importance of having organizational processes in place to ensure that the group is able to properly comply with its tax strategy.

6. Working with HMRC

The Group is committed to conduct its tax affairs in a manner that is consistent with all relevant laws and legal disclosure requirements.

NGHL continues to develop and foster a proactive, professional and transparent relationship with HMRC through communication with relevant HMRC personnel, as well as periodic face-to-face meetings. The group ensures that HMRC is kept aware of key developments as they occur.

7. Appendix- entities covered by this tax strategy document

Nando’s Group Holdings Limited
Nando’s Group Limited;
Nando’s Finance Limited;
Nando’s Chickenland Limited;
Nando’s Limited;
Nando’s Grocery International Limited;
Nando’s Chicken Limited;
Vicar Lane Bradford Limited;
Broomco Chando’s Limited;
Broomco (4061) Limited;
Nando’s Restaurant Group Holdings Limited;
Nando’s Sub Continent Holdings Limited
Nando’s Brand JV Co Limited;