Tax Strategy
Dandara is a private housebuilding, property development and investment group headquartered in the Isle of Man. Dandara is synonymous with a reputation for innovative design and the highest standards of quality, as well as an exceptional level of customer service. Dandara was founded in the Isle of Man over thirty years ago; its housebuilding operations continue there to this day. Dandara now also operates in Jersey and the UK and is one of the most respected private housebuilders and property developers across the three jurisdictions.
Tax Governance
Dandara’s Tax Strategy applies to all Dandara companies under common control. This includes Dandara UK Property Holdings Limited, and all its UK incorporated and tax resident subsidiaries (collectively Dandara UK). This Tax Strategy is governed by the Dandara Board.
Day-to-day oversight and management of tax matters is delegated to the Senior Tax Manager, reporting into the Group Chief Financial Officer, with the support of an experienced in-house tax team. This team is further complemented by a substantial team of in-house accounting, legal and compliance professionals.
Tax Risk Management
In considering what is acceptable tax risk, the in-house tax team will consider the relevant facts and circumstances, including materiality; however, while Dandara has no set limit on what level of risk is acceptable, it broadly adopts a low-risk approach to the tax affairs of the Group.
Dandara focusses on operating in accordance with the tax laws of the territories in which it conducts business, and our in-house tax team strives to deliver correct, timely and complete tax returns to any relevant tax authorities. The in-house tax team is involved in all key business transactions and activities and regularly liaises with the wider business to ensure that any necessary tax considerations and obligations are considered.
Should a significant tax uncertainty or risk be identified, this will be considered in detail, taking into account the wording of the legislation, relevant case law, published intentions in relation to the relevant law and HMRC guidance. In reviewing these risks, the group may take appropriate external advice, including engagement with HMRC or the relevant tax authority.
Dandara has a zero-tolerance approach to tax evasion as set out in the ‘Our Commitments’ page of our website: Our Commitments (dandara.com)
Approach towards HMRC and other tax authorities
Dandara UK is liable to and pays a range of UK taxes including corporation tax, residential property developer’s tax, VAT, payroll taxes and stamp/land taxes.
Dandara seeks to maintain an open and professional working relationship with HMRC and any tax authorities with which it has a relationship. Dandara’s policy is to co-operate with any tax authority enquiries on a transparent basis, with a view to resolving those disputes constructively in a timely manner.
Dandara UK considers publication of this Tax Strategy as complying with its duty under paragraph 5, Schedule 19, Finance Act 2016.
This document was reviewed and approved by the Board on 29 June 2023, in respect of the year ended 30 June 2023.