UK Tax Strategy
UK Tax Strategy for the year ended 31 December 2023
SmartStream at a glance
SmartStream is a global software and managed services provider focused on front, middle and back operations in the financial markets sector. SmartStream operates internationally with offices in many countries.
SmartStream is owned by the Investment Corporation of Dubai, the principal investment arm of the Government of Dubai, United Arab Emirates.
In accordance with the provisions contained in Schedule 19 part 1 and 2 of the UK Finance Act 2016, SmartStream publishes its tax strategy in relation to its United Kingdom tax affairs. The tax strategy will be reviewed periodically, updated as appropriate and approved by the Board.
Our approach to managing tax risk and governance
The Chief Financial Officer has overall ownership for tax risk and tax governance.
SmartStream uses its in-house finance team and professional advisors to manage its day to day tax affairs.
SmartStream ensures that its finance team is actively involved in business strategies and transactions at an early stage so that any tax risks are identified and managed and external advice obtained where necessary.
Our attitude to level of acceptable risk
As a business with offices in many countries, this brings about its own complexity with different tax legislation and tax codes which can give rise to risks in relation to compliance obligations and interpretation of the tax law.
SmartStream mitigates this risk by engaging with professional advisors to obtain appropriate professional advice.
Our attitude to tax planning
SmartStream seeks to make use of tax reliefs or opportunities that are available in line with the spirit of the tax legislation and which has substance that supports the business and reflects genuine commercial and economic activity.
Our approach towards working with HMRC
SmartStream engages with HMRC in an open, transparent, professional and respectful manner.
SmartStream addresses any enquires or information requests from HMRC as a priority and deals with them on a timely basis.