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UK Tax Strategy

UK Tax Strategy

Azets is an international business services group supporting entrepreneurial businesses and their owners and managers. The group provides accountancy, audit, advisory and business processing outsourcing operations and has operations in the UK, Ireland, Norway, Sweden, Denmark, Finland, Romania, Lithuania and Estonia.
PAI Partners joined the business in October 2023 and now hold an equal and co-controlling stake in Azets alongside Hg Capital, the original owners.
Lynx Topco Limited (“Topco”) is the parent company of the Azets group.

Organisational structure

There is no ultimate UK incorporated parent company of the Group as Lynx Topco Limited is incorporated in Jersey, although it is tax resident in the UK. This strategy will accordingly be published by Azets on behalf of the following subgroups of Topco:
  • Blick Rothenberg Limited on behalf of itself, its subsidiaries and its sister entity Blick Rothenberg Holdco Limited;
  • Azets Holdings Limited on behalf of itself, its subsidiaries including Azets Audit Services Limited and Azets Probate Services Ltd and its sister entity Azets Ireland Holdco Ltd;
  • Gorilla Holdings Limited on behalf of itself and its subsidiary Gorilla Accounting Limited;
  • Cogidocs Holdings Limited on behalf of itself and its subsidiary Azets Document Solutions Limited.

Values

Azets values are important to our culture and our relationship with our people and our clients. Azets values are:
  • Collaborative - We are stronger together. We share knowledge, ask for help and empower each other to achieve more collectively.
  • Authentic - We constantly ask ourselves what is the right thing to do for our people, our clients and our business, acting with integrity at all times.
  • Respectful - We are open minded and value everyone’s contribution, embracing our differences and fostering a culture of trust and inclusion.
  •  Dynamic - We adapt quickly to change, finding smart ways to deliver the best results and remain one step ahead.

Approach to tax risk management and governance

Azets has a strong sense of corporate and social responsibility and this extends to complying with UK and international tax obligations and operating with strong corporate governance.
As a business advisory firm, our reputation is critically important to us and our clients and we are committed to complying not just with the letter, but with the spirit of the tax law when it comes to advising our clients as well as meeting our own tax obligations.
Azets is liable to account for a broad range of UK taxes including corporation tax, VAT, PAYE, National Insurance Contributions, insurance premium tax, business rates, the apprenticeship levy and Stamp Duty Land Tax.
We are committed to compliance with UK tax law, regulation and disclosure requirements by:
  • Paying the right amount of UK tax at the right time,
  • Filing complete and accurate returns on a timely basis,
  • Seeking to utilise available tax reliefs and incentives where available in a manner which is consistent with the UK government’s policy objectives.
  • Consulting with qualified staff members in their areas of expertise, such as VAT, employment and corporate taxes if an area of uncertainty arises.
  • Seeking advice from external advisors to provide additional expertise where appropriate.
The overall responsibility for the Azets tax strategy rests with the group Board of Directors.
This strategy was approved by the Board, and will be reviewed annually to ensure it remains accurate and relevant.
Day to day management of each UK sub-group’s tax affairs is undertaken by the finance teams within each of the sub-groups, who then report to the group finance function. The finance teams work together with the Group Finance Director, the Group Tax Manager and qualified tax teams in the business to ensure compliance with UK law and regulation. External advisors are utilised as required.
As this arrangement relies on the finance team members to identify an area of tax risk or sensitivity, the finance teams are kept aware of changes in tax legislation by ongoing communication with the Group Finance Director, the Group Tax Manager and tax technical teams.
If deficiencies in tax reporting or compliance are identified by the finance team, these areas are discussed with the Group Finance Director, the Group Tax Manager and the senior in-house qualified tax professionals and escalated as appropriate to management and the Board, and the matter addressed without delay.

Attitude towards tax planning

When considering business planning opportunities for Azets or for our clients, our focus is on sound commercial principles and understanding the underlying economic objectives and substance.
All in-house tax staff follow the principles and standards of behaviour set out in the Professional Conduct in Relation to Taxation (PCRT) published by the Chartered Institute of Taxation.
Azets has grown organically and via acquisitions. An appropriate level of tax due diligence is undertaken when evaluating transactions. Where any deficiencies are identified through the due diligence process, these transactions will either not proceed or proceed with remedial action being taken shortly thereafter. In the event of any uncertainty, relevant advice will be sought to support the decision making process.

Level of tax risk accepted

Azets takes a responsible approach to managing its UK tax affairs and seeks to comply with all statutory obligations. The scale and complexity of the group’s business and the volume of its tax obligations means that inevitably risks will arise. Where risks are identified by the finance teams they are evaluated with assistance from in-house qualified staff or with external professional advisors and managed proactively.
If for a certain transaction there is considered to be a material level of uncertainty or complexity, the group will seek external advice to help reduce risk.
Azets approach to tax risks follows the same principles that apply to other business risks and includes consideration of reputational and other non-financial risks.

Relationship with HMRC

Azets promote an open and collaborative relationship with HMRC in relation to our own and our client’s tax affairs.
Where possible Azets engage proactively with HMRC and is committed to principles of openness and transparency when dealing with HMRC. If the group is unclear on how tax law should be applied, it may engage with HMRC in advance of undertaking transactions to confirm the correct application of tax law.
Where queries are raised by HMRC, Azets will respond promptly and provide full and accurate answers in the interest of resolving any queries swiftly without recourse to litigation.

Technical details

The publication of this tax strategy statement is regarded as satisfying the statutory obligation under Paragraph 19(2) and 25 of Schedule 19 of the Finance Act 2016, for the UK companies and UK Permanent Establishments of the Lynx Topco Limited group (referred to collectively as “Azets”). This tax strategy applies to the financial year ending 30 June 2026 and describes the approach to the management of the Azets group UK tax affairs.
This strategy is published by Lynx Topco Limited as the parent company of the group. The strategy is also published by Blick Rothenberg Limited; Azets Holdings Limited; Gorilla Holdings Limited; and Cogidocs Holdings Limited as the UK parent companies of their respective sub-groups.
Date of publication: July 2025