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WiggleCRC’s Tax Strategy

Introduction

The Group's core business is as an online retailer trading worldwide through a number of domains under two brands. The Wiggle brand specialises in tri-sport (cycle-run-swim) and road cycling products to inspire everybody, everywhere to experience the joy of sport. The business offers a wide range of cycle, run and swim products (equipment, clothing, accessories and sports events). Chain Reaction Cycles (CRC) focuses on mountain biking and down-hill cycling whilst also offering road bike equipment. The Group services customers across the globe from its operating facilities in the UK.

WiggleCRC is committed to complying with tax laws in a responsible manner and to having open and constructive relationships with tax authorities.

Tax Risk Management

WiggleCRC’s Chief Financial Officer has overall responsibility for the Groups UK tax accounting arrangements, with oversight provided by the Board of Directors.

The Board of Directors meet when required to discuss any updates on significant tax matters and developments. The Chief Financial Officer attends all meetings where the Board has the opportunity to highlight any significant tax matters and developments.

The day to day operation of the company’s tax affairs are managed by the Financial Reporting and Tax Manager who acts as the main point of contact for all of the company’s tax related enquires and is also responsible for ensuring that statutory tax requirements are both identified and adhered to.

The Financial Reporting and Tax Manager maintains close contact with external legal and tax advisors to obtain any updates on rules and regulations that might have a material impact on the company and for relevant support on key business processes.

Tax Planning

WiggleCRC engage in tax planning that supports the Group’s business and reflects commercial and economic activity and do not engage in artificial tax arrangements.

The Group adheres to relevant tax laws and seeks to minimise the risk of uncertainty or disputes.

Tax incentives and exemptions are sometimes implemented by governments and fiscal authorities in order to support investment and economic development. Where they exist the Group seeks to apply them in the manner intended. Where appropriate, professional advice is sought to support any submissions.

Professional advice has been sought where appropriate.

Level of tax risk

The focus of the Group is to conduct business in a way that both meets and exceeds our stakeholder’s expectations including customers, suppliers, communities and employees. Operating with this focus impacts how the company considers all tax affairs the communities in which they operate.

The Group is committed to complying with all applicable tax laws and has a low risk appetite in relation to tax matters, assessing tax risk and making tax decisions with regard to its reputation, integrity and status in a consumer branded product environment.

Working with HMRC

Where appropriate, the Group aim’s to discuss any issues in real time with a view to them being resolved in a timely manner with full disclosure of the relevant facts and circumstances presented to HMRC.

The Group support the principle behind the movement towards greater transparency and increased understanding of tax systems that build public trust.

Further Information

Our approach to tax is applicable across the WiggleCRC Group. We review and update this document annually. It was last approved on 15 December 2017.

For additional information you can e-mail: tax@wiggle.com.