UK TAX STRATEGY STATEMENT

Lifco offers secure ownership for small and medium-sized businesses. Lifco’s business concept is to acquire and develop profitable, market-leading, sustainable niche businesses with the potential to deliver sustained earnings growth and robust cash flows. Lifco’s ownership is very long-term and its culture is marked by decentralisation, customer focus and an emphasis on sustainability in everything we do. The Group has three business areas: Dental, Demolition & Tools and Systems Solutions. 

Lifco and its United Kingdom (UK) subsidiaries regard the publication of this tax strategy statement as complying with their duty under paragraph 16(2) of Schedule 19 of the Finance Act 2016 to publish their tax strategy in the current financial year. This statement relates to financial year 2025, ending 31 December 2025.

Lifcos Group has the following subsidiaries in the United Kingdom: 

Legal name:		Location:
Alwayse Ball Units Ltd		Birmingham
Alwayse Engineering Ltd		Birmingham
Amayse Ltd		Esher, Surrey
Ascot Signs Limited		Londonderry, Northern Ireland
Auger Torque Europe Ltd		Cheltenham, Gloucestershire
Brian James Trailers Holdings Ltd		Daventry, Northamptonshire
Brian James Trailers Ltd		Daventry, Northamptonshire
Brokk UK Ltd		Crooklands,Milnthorpe
Broughton Plant Hire and Sales Ltd		Romford, Essex
C F Vending Ltd		Bolton
Cardel Group Ltd		Baldock
Cardel Ltd		Baldock
Caring Technology Ltd		Newcastle Upon Tyne
Cleveland Cascades Ltd		Stockton-on-Tees, Cleveland
Condale Holdings Ltd		East Grinstead, West Sussex
Condale Plastics Ltd		East Grinstead, West Sussex
Didsbury Engineering Co. Ltd		Cheshire
EFKA Frame Solutions Ltd		Derby
Kefla UK Ltd		Buckingham
Kinshofer UK Ltd		Cheltenham, Gloucestershire
Maydown Holdings Ltd		Londonderry, Northern Ireland
Modul-System Ltd		Buckinghamshire
Ortho-Care (U.K.) Ltd		West Yorkshire
Prolec Ltd		Poole
Rijo 42 Ingredients Ltd		Bolton
Rijo 42 Machines Ltd		Bolton
Silvent UK Ltd		Birmingham
Specialist Alarm Services Ltd		Newcastle upon Tyne
Spinaclean Ltd		Brackmills, Northampton
Swallow Dental Supplies Ltd		Silsden, West Yorkshire
T. Freemantle Ltd		Scunthorpe, North Lincolnshire
Taylor Defence Service Ltd		Glasgow
TDS (E&W) Ltd		Glasgow
The Real Spirit of Coffee Ltd		Bolton
Topdental (Products) Ltd		Silsden, West Yorkshire
UK Point of Sale Group Ltd		Bredbury, Stockport
Wholesale Coffee Company and Machines Ltd		Bolton

 

Approach to risk management and governance arrangements 

Governance 
Responsibility for the tax strategy, the supporting governance framework and management of tax risks ultimately sits with the Chief Financial Officer of the Lifco Group, supported by the Group Finance department. Key risks and issues related to tax are escalated to and considered by the Group Audit Committee on a regular basis. 

Risk Management 
Given the Group’s scale of business and the volume of tax obligations, tax uncertainties and risks will inevitably arise from time to time with respect to the interpretation of tax laws and the nature of compliance obligations. Lifco proactively seeks to identify, evaluate, manage and monitor tax uncertainties and risks to ensure that they are appropriately addressed in accordance with these principles. The Group is exposed to a variety of tax risks which can be grouped under the following headings: 

Tax compliance and reporting risks 
Tax compliance and reporting risks are risks associated with compliance failures such as submission of late or inaccurate returns, the failure to submit claims and elections on time or where systems and processes are not sufficiently robust to support tax compliance and reporting requirements. 

Transactional risks 
Transactional risks are risks associated with undertaking transactions without appropriate consideration of the potential tax consequences or where advice taken is not correctly implemented.

Reputational risks 
Reputational risks are non-financial tax risks that may have an impact on the firm’s relationship with stakeholders, clients, tax authorities and the generic public. 

Lifco aims to manage tax risks in a similar way to any area of operational risk. The business is supported by oversight functions from the Group Finance department. Where appropriate, Lifco look to engage with tax authorities to disclose and resolve issues, risks and uncertain tax positions. The subjective nature of many tax rules does however mean that it is often impossible to mitigate all known tax risks. As a result, at any given time, the Group may be exposed to financial and reputational risks arising from its tax affairs. Where the interpretation or application of tax laws is not clear, Lifco will take well-reasoned positions considering legal precedents and administrative positions of HMRC and engaging external advisors where considered necessary. 

Attitude to tax planning 

Lifco recognises the responsibility to pay an appropriate amount of tax in each of the principal jurisdictions in which it operates. The aim is to balance this with the responsibility to shareholders to structure its affairs in an effective manner. In structuring its commercial activities, Lifco will consider the tax laws of the countries within which it operates (in addition to other relevant matters) with a view to maximizing value on a sustainable basis for the stakeholders. Tax planning related to the UK is not undertaken unless it is consistent with commercial objectives. 

Lifco intends to fulfil its tax obligations in accordance with UK tax laws and practice. Relevant facts and circumstances and reliefs or incentives (where available) claimed shall be disclosed to HMRC. Lifco also ensures that appropriate arrangements are in place to calculate accurately the tax liabilities and to pay the appropriate amount of tax in the right place on a timely basis. 

Attitude towards risk 

Lifco sees compliance with tax legislation as key to managing its tax risk. The aim is to be compliant in all jurisdictions with regards to taxes. Where there is significant uncertainty or complexity relating to an identified risk, external professional tax advice may be sought. The Group’s tax risk appetite requires that, where tax law is unclear or subject to interpretation, its adopted tax position is at least more likely than not to be allowable under applicable tax laws. 

Relationship and dealings with HMRC 

Lifco engage with HMRC with openness, honesty, integrity, respect and fairness and with cooperative and proactive compliance. Lifco seeks to avoid disputes and, wherever possible, seeks to resolve any disputed matter through proactive and transparent discussion and negotiation. Positions on UK related tax matters that may create reputational risk or jeopardise the good standing with HMRC are avoided. 

Lifco AB (publ) Verkmästaregatan 1, SE-745 85 Enköping Org nr 556465-3185 I www.lifco.se