UK Tax Strategy

UK Tax Strategy ending 30th June 2025

UK Tax Strategy Statement

The Tax Strategy Statement applies to our UK sub-group headed by Ramsay Health Care (UK) Limited together with Ramsay Health Care (UK) No. 1 Limited and has been published in accordance with paragraphs 19(2) and 22(2) of Schedule 19 of the Finance Act 2016.  It has been approved by the Board of Directors (the “Board”) for the year ended 30th June 2025. 

Ramsay Health Care UK is ultimately wholly owned by Ramsay Health Care Limited, a public company listed on the Australian stock exchange.  

Ramsay Health Care UK is one of the largest providers of independent hospital services in the UK, providing a comprehensive range of medical and surgical treatments to privately insured and self-pay patients as well as patients funded by the National Health Service. Further information is available on www.ramsayhealth.co.uk. 

This document will be periodically reviewed by the Ramsay Health Care UK finance team and any amendments will be approved by the Board of Directors.

Our Approach to Tax

Our approach to tax is based upon the five Ramsay Principles which we are committed to in all our decision making to ensure we uphold our commitment to transparency, fairness and robust governance. 

Integrity 

We are honest, reliable, consistent and trustworthy. We only enter into commercial transactions and the tax positions we adopt are in accordance with applicable laws and practices. We do not use contrived or artificial tax structures that are intended for tax avoidance or have limited commercial substance.

Ownership

We take pride and ownership in our work practices, professionalism and service to the community. We ensure we comply with tax deadlines and understand it is our responsibility to report accurately and efficiently to HMRC.

Positive Spirit

We strive to promote a positive spirit through our own example. We communicate tax regulation across the business in an understandable and transparent manner. We encourage questions and collaboration from employees and create a positive trusting space whereby if someone believes there is a risk we encourage discussion.

Innovation

We encourage creativity and diversity to deliver excellent customer service and achieve positive organisational outcomes. We seek to work efficiently, and we involve tax advisors on complex transaction. Our teams stay up to date with tax changes via research and trainings.

Teamwork

We value teamwork to achieve our aspirations and goals through sharing ideas and responsibilities in an environment of mutual respect. We maintain a strong governance structure with the audit and risk committee having oversight on key tax matters. We educate our staff on relevant tax aspects. 

Risk Management and Governance Arrangements

Ramsay are committed to ensuring high standards of tax corporate governance are maintained and we ensure that tax is paid, based upon applicable laws and practices. Part of exercising good tax corporate governance involves the establishment of a strong framework for identifying, assessing and managing tax risk.  

We apply professional diligence and care in the management of all risks associated with tax matters, and ensure governance and assurance procedures are appropriate and robust. This includes policies, procedures and the maintaining of appropriate tax accounting arrangements under the Senior Accounting Officer (“SAO”) obligations. The SAO is supported by senior finance personnel, (which includes a Group Financial Controller (UK) & Group Head of Tax) and external specialist tax experts for relevant outsourced services. The external tax providers also advise to ensure compliance with respect to developments in tax legislation.

Ramsay employees have the appropriate skills and experience to implement our tax control framework. The team has extensive experience ensuring that they possess the required technical and business specific knowledge. Ramsay UK will engage with the global team when strategic decisions are being made and external tax advice is also obtained in these situations, synergies with the Global office help minimise tax risks.  

The UK audit and risk committee will review the tax risk register, and any significant items will be flagged and escalated as appropriate. The committee will also discuss any changes or upcoming changes in tax legislation and the impact this has on the Firm. It will be ensured that these are communicated throughout the Firm and any changes are dealt with appropriately. 

Ramsay Health Care UK ensures that its approach to UK taxation is at all times consistent with the Global Group’s overall tax strategy and core values whilst managing tax risk proactively.

Approach to tax planning

Ramsay Health Care UK acts with integrity and complies with all the relevant laws, rules, regulations and disclosure requirements. We will use statutory reliefs, exemptions and incentives in a manner consistent with the tax legislation. Under no circumstances do we use contrived or artificial tax structures that are intended for tax avoidance.

The Board recognises the need to articulate and disseminate the acceptable level of tax risk tolerance. In this regard, Ramsay Health Care UK adopts a proactive and transparent low risk  approach to UK taxation and in its engagement with HMRC. 

Where there is significant uncertainty or complexity in relation to a risk or a transaction external advice may be sought to support the Group’s decision-making process and mitigate any potential risk. The process will be fully documented and sign offs obtained where necessary.

Ramsay UK’s approach to tax planning is consistent with that adopted by its parent company Ramsay Health Care Limited.

Level of risk the Group is prepared to accept

We adopt a conservative approach to tax risk management and as mentioned above we apply a strong tax governance framework. We aim to minimise risk and uncertainty through ensuring that we comply with legal requirements, and we strive to pay the correct amount of tax at the right time. 

We take an active approach to risk management, including the maintenance of a risk register, engagement with the Board and the Audit and Risk Committee. Regular communication with the Global tax team also ensures that we are made aware of any forthcoming requirements and can openly discuss any taxation issues or key points. 

We ensure that staff are made aware of any tax changes, and we encourage regular taxation trainings and research to ensure that staff are aware of current taxation policies. We are also in regular contact with our tax advisors who remind us of any new and existing taxation requirements.

Along with our internal controls, ensuring a strong risk culture helps us to continue to serve our customers and meet stakeholder expectations. We encourage employees to speak up if they identify any risk and we take appropriate action.

Approach to dealing with Her Majesty Revenue & Customs (“HMRC”)

Ramsay Health Care UK adopts an open, professional and honest relationship with HMRC based on the concepts of integrity, collaboration and mutual trust. The relationship with HMRC is overseen by the SAO. The SAO, and members of the senior finance team regularly meet with the Customer Compliance Manager, (“CCM”) which includes providing the CCM updates on business developments.

Tax is a key part of the Finance functions responsibility, facilitating an in-depth understanding of key financial transactions and proactive identification of risks. We also pride ourselves on having strong relationships across other central departments such as HR, legal and hospital teams. This holistic approach allows for risks to be dealt with appropriately and any significant changes across the Group to be identified and proactively communicated to HMRC. 

We aim to meet all deadlines, with accurate and timely filings and payment of any tax owed. If an error is discovered we take full ownership and rectify the matter as quickly as possible, working closely with HMRC and external tax advisors. 

The team ensure that they remain educated with any changes that are implemented by HMRC. This ensures efficient and accurate filings with HMRC.