7IM Group Tax Strategy
7IM Tax Strategy for the year ending 31 December 2025
Introduction
7IM is a group of Limited Companies and Partnerships, offering investment management, financial planning and technology solutions for financial advisers and private clients.
This tax strategy sets out how 7IM operates when considering tax related matters and summarises the approach to how the group identifies and reduces inherent tax risks, its attitude towards tax planning and the level of risk the business is prepared to accept.
It has been approved by the Board of Directors and applies to all UK taxes applicable to the Group. The policy will be reviewed annually.
Managing tax risks
On a corporate level, the Board of Directors are ultimately responsible for signing off on tax returns for both the Limited Companies and Partnerships within the Group.
For the partnerships within the Group, it is the responsibility of the individual and corporate members to pay their own tax liability.
7IM uses professionals within the Finance Team who have the qualifications and experience necessary to undertake tax compliance and identify when external advice is needed.
The Chief Financial Officer has ultimate responsibility for the management of tax risk and is supported by the Finance team.
7IM acknowledges that there are certain strategic decisions that may require additional, expert knowledge. Where the tax treatment or implications are uncertain, we engage with external advisors to understand the options and subsequent implications.
The tax horizon is constantly evolving and changes in tax laws and interpretation of existing tax laws are monitored on an ongoing basis to understand any potential impacts to 7IM.
Tax governance framework
7IM is committed to being a responsible and compliant taxpayer and this is achieved through robust governance together with clearly defined processes and controls. This means paying the correct amount of tax at the correct time.
7IM’s exposure to UK taxes is a significant business risk and the Group minimises that risk by ensuring compliance with the relevant legislation. The group incurs a variety of business taxes including corporation tax, employment taxes, VAT and other taxes. The group collects and pays over employee taxes and indirect taxes such as VAT.
Tax is managed by the Group in a manner that is consistent with other areas of operational risk, by introducing and maintaining appropriate monitoring and management procedures across the Group.
7IM adopts a non-aggressive approach to tax planning, and the risk appetite is aligned with and integrated into our strategy, as set by the board. 7IM’s aim is to mitigate risk down to an acceptable level that is within risk appetite through effective risk management controls.
Engagement with HMRC
When engaging with HMRC, 7IM aim to be transparent and professional in all its disclosures. By ensuring that all relevant facts are disclosed in any communication to HMRC it enables complex subjects to be fully understood so that a clear decision can be achieved.
Attitude to Tax Risk
The Group’s tax strategy is aligned with the Group’s values and approach to its business. The Group has a low appetite for tax risk and this is reflected in its approach to tax management. The Group does not participate in any tax planning arrangements that are not commercially driven.
The Chief Financial Officer and the Finance Team seek advice and support from professional advisors for compliance obligations and when tax issues arise:
- That are considered to be sufficiently complex or material to the Group;
- Where there is a degree of tax uncertainty;
- Where tax guidance is unclear; or
- Where the Group has insufficient tax expertise or knowledge to assess the tax risks and consequences of transactions under consideration.