Admiral's Group Tax Strategy

Approved by the Board of Directors

This strategy is published in accordance Paragraph 19 of Schedule 19 to the Finance Act 2016. It applies to all UK entities within the AT Brady Holdings Limited group (the “Group”). The strategy has been published in accordance with paragraph 16(4) of the Schedule.

The Group is a leading operator of community pubs, and we recognise that the taxes we pay contribute significantly to the UK economy and the communities we serve.

The Tax Strategy is approved by the Board of Directors of AT Brady Holdings Limited.

Tax Risk Management and Governance

The Board of Directors recognises the critical importance of managing the Group’s tax affairs to protect shareholder value and maintain our reputation. Executive responsibility for tax matters rests with the Chief Financial Officer (CFO), who serves as the Group’s Senior Accounting Officer (SAO). Day-to-day management is delegated to the senior finance leadership, ensuring that tax remains a core component of our corporate governance framework.

Due to the scale and complexity of a national pub estate, we acknowledge that inherent tax risks exist. Our strategy is not to eliminate risk entirely but to manage it to an acceptable level by:

  • We avoid excessively complex transactions or artificial structuring, prioritising “tax certainty” in all our commercial dealings.
  • We employ a risk-based approach, dedicating enhanced internal and external resources to unusual, high-magnitude, or technically complex transactions.
  • We maintain robust key tax processes and controls, which are periodically reviewed by our Finance function to ensure compliance with SAO and other regulatory reporting requirement.

The Group ensures that our in-house Finance team possess the appropriate qualifications, resources, and experience. We support our team in meeting the Continuous Professional Development (CPD) requirements of their professional bodies, ensuring they stay abreast of emerging legislation and HMRC guidance. Where specific technical expertise is required, particularly regarding new legislation or large-scale acquisitions, we engage top-tier external advisors.

Attitude to tax planning

The Group has a clear duty to its shareholders to manage business expenses, which includes the effective management of our tax liabilities. In line with our culture of long-term stewardship and sustainable growth, our approach to tax planning is conservative and always aligned with our core business operations and commercial principles. We do not engage in aggressive, artificial, or contrived arrangements whose sole purpose is to obtain a tax benefit.

The Group is mindful of its reputation and the importance of its relationship with HMRC. We ensure that all tax planning is undertaken to comply with applicable laws and regulations. We do not adopt tax positions that are clearly contrary to the intention of the legislation.

The level of risk our business is prepared to accept for UK taxation

The Group maintains a low-risk appetite for UK taxation. Managing tax risk is the responsibility of all relevant employees as overseen by the Board.

How our business works with HMRC

We are committed to maintaining an open, honest, and collaborative relationship with HMRC. We value the trust placed in our business to account correctly for the taxes due and seek to further build on that trust in all our dealings.