Tax Strategy

1. Introduction

Prism Integrated Security Solutions Ltd is a privately owned UK company. Our objective is to generate sustainable value for the business through robust tax controls, while meeting all of our tax obligations in full and on time, and accessing legitimate tax reliefs that are available to us as a UK trading company.

Although the formal duty to publish a tax strategy under Schedule 19 of the Finance Act 2016 applies to large groups and companies above defined turnover and balance sheet thresholds — and Prism currently sits below those thresholds — we choose to publish this strategy voluntarily, in the same spirit of transparency that underpins our other published policies. It will be reviewed and updated annually.

2. Scope

This strategy applies to Prism Integrated Security Solutions Ltd and covers all taxes and duties relevant to our UK operations, including:

3. Aim

Our aim is to meet all statutory tax obligations in full, accurately and on time, while managing the inherent uncertainty that arises in applying tax law to our business activities. We recognise that areas of judgement — such as the classification of expenditure or the application of reliefs — can create tax risk, and we manage this risk actively through the governance and controls set out below.

4. Governance

Responsibility for our tax strategy sits with the Directors of Prism Integrated Security Solutions Ltd, who approve this strategy and review it periodically — at minimum annually, or sooner if there is a material change in legislation or in our business activities.

Day-to-day management of tax compliance and reporting is carried out by our finance function, with support from external accountants and tax advisors where specialist expertise is required.

5. Management of Tax Risk

We manage tax risk through:

• Maintaining accurate and up-to-date financial records to support all tax filings
• Engaging qualified external accountants to prepare and review tax computations and returns
• Keeping abreast of changes in tax legislation that affect our business and sector
• Seeking specialist external advice for transactions or areas of genuine complexity or uncertainty
• Maintaining internal review processes before tax returns and payments are submitted

6. Approach to Tax Planning

Prism does not enter into artificial or abusive arrangements to gain a tax advantage. Where we make use of tax reliefs and incentives — for example capital allowances on business equipment and vehicles — we do so only where they are intended to apply to our genuine business activities and are consistent with the underlying purpose of the legislation.

7. Approach to Tax Risk

We take a conservative and low-risk approach to tax. We have clear internal policies for handling routine tax matters, monitor our tax position regularly, and consult external advisors whenever a transaction or area of tax law is complex or uncertain. Where genuine uncertainty exists as to how legislation applies, we will, where appropriate, seek clearance or guidance from HMRC.

8. Working with HM Revenue & Customs

We are committed to:

• Maintaining an open, honest and transparent relationship with HMRC
• Making fair, accurate and timely disclosures in tax returns, and disclosing and correcting any errors as soon as reasonably practicable
• Working collaboratively with HMRC to resolve disputes and achieve early agreement on any disputed matters, wherever possible
• Responding to HMRC enquiries and requests for information in a timely and constructive manner