Shoosmiths tax strategy FY24/25

Shoosmiths LLP (“Shoosmiths”) is incorporated as a limited liability partnership under the Limited Liability Partnership Act 2000.

Our tax policy applies to Shoosmiths and all its subsidiaries (“the firm”) for the financial year end 31 March 2025, and is set out in accordance with paragraphs 16(2) and paragraph 25(1) of Schedule 19 Finance Act 2016.

Tax compliance

Shoosmiths is committed to adhering to all aspects of tax law, as outlined in paragraph 15(1) of Schedule 19. This commitment includes paying the correct amount of taxes, complying with all statutory tax obligations, and submitting the relevant tax filings on time. We also expect our partners and directors to act in accordance with all UK tax laws and any additional jurisdictions they may be subject to. This includes refraining from engaging in any dubious or aggressive tax planning strategies.

Tax planning & governance

Ultimate responsibility for the firm's tax obligations resides with the Board. The operational management and compliance responsibilities are carried out by the firm’s business services tax team, who report to the Head of Finance and the Chief Financial Officer, with periodic oversight from the Finance and Audit Committee. 
We consider applicable tax laws in all the countries in which we operate, and factor in any potential impact on our reputation, as well as alignment with the firm's values and long-term strategy.

Tax risk management

As the firm has grown and our tax obligations become more complex, so has our exposure to risk. We will monitor and manage such risks as and when they arise, to ensure we remain fully compliant with all our tax obligations. Any occasion where there is potential ambiguity or intricacy surrounding a risk, we will seek external specialist advice. The firm takes a prudent approach in our tax responsibilities and does not partake in any actions that may result in adverse tax consequences for the firm or its partners.

Relationship with HMRC

We maintain a constructive and transparent relationship with HMRC, acting in accordance with Shoosmiths values. 

When any areas of uncertainty arise, we endeavour to resolve through open lines of communication.

Download a copy of the Shoosmiths tax strategy document here.