Nando’s Tax Strategy – Financial year ending 26 February 2023
A warm welcome. From the get-go, some quick housekeeping:
1. This document applies to Nando’s Group Holdings Limited (NGHL) and all UK subsidiaries. When we refer to ‘Nando’s’ or the ‘Group’, it includes all of them.
2. The strategy applies from the date of publication (year-ending 26 February 2023) until a new one takes its place.
3. ‘UK Taxation’ refers to the taxes and duties set out in paragraph 15(1) of the Schedule. It includes income tax, corporation tax, PAYE, NIC, VAT, insurance premium tax and stamp duty land tax.
4. When we talk ‘tax’ or ‘taxes’ or ‘taxation’, we’re referring to UK taxation and all the corresponding worldwide taxes and similar duties we’re legally responsible for.
Our Tax Strategy
Approach to tax affairs
Nando’s policy is to maintain its tax affairs responsibly and transparently. Nando’s doesn’t enter into transactions simply to secure tax advantages.
Approach to tax risk management
Nando’s may never get enough of PERi-PERi Chicken, but when it comes to tax, the Group’s appetite is low-risk.
Nando’s actively seeks to identify, evaluate, monitor and manage risks through a risk control framework. As a result, tax risks are reviewed regularly and if appropriate, are escalated to the Board for consideration. The group employ appropriately qualified personnel and controls are also in place to ensure compliance with all applicable legislation. Finally Nando’s routinely takes independent advice and undertakes external reviews to ensure compliance with legislation.
Approach to governance in relation to UK tax
The Nando’s Group Holdings Board of Directors have final oversight of and responsibility for tax. To this end, Nando’s recognises how important it is to have checks and balances in place to make sure the Group is able to comply with its tax strategy.
Nando’s has a transparent relationship with HMRC. To make sure they’re kept in the loop of important happenings taking place, Nando’s communicates with HMRC personnel and also has periodic face-to-face meetings with them.