Tax Strategy

Talon Group Tax Strategy December 2023

Canis Topco Limited is the ultimate UK parent company of the Talon Outdoor group (“Talon”). This strategy applies to Canis Topco Limited and all of its subsidiary companies and covers all UK taxes.
Talon continues to review its key tax procedures on an ongoing basis and publishes its tax strategy in accordance with measures contained in Schedule 19 of Finance Act 2016, paragraph 16(2). This strategy is effective for year ending 31 December 2023.
This tax strategy has been approved by the Board of Talon and continues to be reviewed annually. As such Talon considers that its obligations under Paragraph 22(2) Schedule 19 FA 2016 in the year ending 31 December 2023 have been met.
Talon is a pioneering, independently owned, global Out of Home agency serving brands, advertisers and media partners with offices in the UK, US, Ireland, UAE and Singapore.
Talon’s approach to tax
We take a responsible and sustainable approach in relation to our tax obligations as we understand the importance of the taxes we pay in supporting the various communities that we operate in. Talon has a low tolerance to tax risk as demonstrated by its attitude to tax planning and governance.
Talon operates under the following principles:

  • We comply with all relevant tax law, reporting and regulatory requirements.
  • We interpret relevant tax laws in a way that is consistent with a relationship of co-operative compliance with tax authorities.
  • We only engage in tax planning aligned to our commercial and economic activity that does not lead to any abusive result.
  • We may appropriately utilise and claim available tax incentives and exemptions.

Governance and management of tax risk
The Chief Financial Officer (“CFO”) takes overall responsibility for the management of tax risk. On a day-to-day basis, tax risks are managed by the group finance team.
The Board, updated as appropriate by the CFO, exercises oversight of tax risk management and governance primarily through discussions at monthly Board meetings. These meetings incorporate key tax information and issues arising within the business, or externally that could impact the business, for example upcoming legislative changes.
The group’s key tax risks include:

  • Transactional risk – this includes actions taken in respect of transactions without consideration of potential tax implications, or where tax advice is not appropriately implemented.
  • Tax compliance risk – this includes late filing or incorrect tax returns, failure to submit claims and elections on time, and late payment of taxes.
  • Reputational risk – this includes the impact on our relationships with shareholders, customers, tax authorities, and the public.

We manage these risks by utilising suitably qualified and experienced finance team members and specialist external tax advisors, to prepare and file tax returns and also advise on areas of uncertainty. Oversight of advisors is provided by our finance team, including the CFO.
Talon has identified its Senior Accounting Officer (SAO) and has utilised external tax advisors to review the processes that the SAO has in place to ensure that Talon’s tax procedures are appropriate.
Collaborative working with HM Revenue & Customs (“HMRC”)
Talon is committed to acting with integrity at all times and to maintaining a transparent, open and honest relationship with HMRC.
We proactively engage with HMRC to disclose and resolve issues as they arise.
Transparency and tax evasion

  • We support the UK Government’s adoption of the OECD’s Base Erosion and Profit Shifting recommendations.
  • We do not tolerate tax evasion or the facilitation of tax evasion by any persons acting for or on behalf of Talon.