Skip to site footer Menu WHAT'S ON THE EXPERIENCE THE RACING THE LIFESTYLE Your Basket will expire in minutes. POLICIES & STATEMENTS UK TAX STRATEGY SECTION 172 STATEMENT JCR DEFINED BENEFIT PENSION SCHEME JCR DEFINED CONTRIBUTION PENSION SCHEME The Jockey Club UK Tax Strategy The Jockey Club is the largest commercial Group in Britain’s second largest spectator sport. It operates 15 of Britain's famous racecourses nationwide, including Aintree, Cheltenham, Epsom Downs and both the Rowley Mile and July Course in Newmarket, as well as other related enterprises amongst other concerns such as the National Stud, Jockey Club Estates, Jockey Club Catering, Jockey Club Live and our charity Racing Welfare. Our vision is for British horseracing to be the best in the world for many years to come and for the sport to be accessible for millions of people in the UK to enjoy. As an organisation, we are committed to acting with integrity in all our business relationships and this informs our approach to taxation. Tax compliance and reporting We are committed to meeting our tax compliance obligations and will seek to apply diligent professional care and judgement in our tax compliance activities. In order to achieve this, we have a well-resourced finance team and work with external advisors as appropriate to provide additional support, ensuring we are kept up-to-date with any legislative changes that may impact these obligations. Approach to tax planning Like any other business activity, any action or lack thereof with implications for tax will be considered in light of the potential impact on our reputation. We will not undertake any activities relating to tax, or accept any level of tax risk, that would result in damage to our reputation. Tax decisions are aligned to business and commercial strategy. We may respond to tax incentives and exemptions where appropriate and in a way that is consistent with HMRC and government policy. As appropriate, we will seek external professional tax advice to ensure we apply these incentives and exemptions legitimately, and if appropriate, we will seek advance clearances with HMRC to ensure we minimise the risk of uncertainty. Governance and risk management We understand the importance of having a strong corporate governance framework that ensures the accountability, responsibility and ethical behaviour of The Jockey Club. The board of Stewards and Finance Committee provides oversight in ensuring that tax is considered within the wider context of the business and in how tax risk is managed. Compliance and risk matters, including those concerning taxation, will be included on the agenda at board meetings as appropriate. The Group Finance Director has oversight and responsibility over The Jockey Club’s approach to tax on a day-to-day basis which includes the identification, prioritisation and monitoring of tax risk across the business, as well as the escalation of tax risk to the board of directors. The Jockey Club adopts a low risk approach to tax, as with other areas of the business, in line with our established governance and risk framework. Relationships with Tax Authorities The Jockey Club is committed to working with HMRC in an open and collaborative manner, much like any other stakeholder of the business. Wherever possible, we will seek to achieve early agreement on issues and we will keep HMRC up to date about any commercial developments and events in our business that may have a tax impact. We will also seek external advice in respect of any matters of complexity and will work with HMRC to ensure that any differences of opinion in respect of the application of the law are resolved. This Tax Strategy document This document meets the requirement for the Group to publish its Tax Strategy as required by section 161 and section 16(2) of Schedule 19 of Finance Act 2016. It is effective for the year ended 31 December 2020 and covers all of The Jockey Club’s UK Group companies. This Tax Strategy has been developed by the Group Finance Director. Approved by the Board on 17 December 2020. ABOUT GROUP CONTACT SIGN UP TO OUR NEWSLETTER THE OFFICIAL PARTNERS OF THE JOCKEY CLUB Terms and Conditions Privacy Policy Cookies Policy Polices & statements Contact Media Careers Modern Slavery Act Gender Pay Gap © The Jockey Club 2021. All Rights Reserved. COOKIE POLICY We use “cookies” to help enhance your experience and improve the functionality of our website. You can find out more in our cookie policy. We also serve cookies, some with chocolate chips, on our racecourses. OK. GOT IT.