Corporate Tax Strategy
Introduction
Esdevium Games Ltd t/a Asmodee United Kingdom is a subsidiary of Asmodee UK Holding Limited and is an established UK-based distributor of games, collectibles and toys both domestically and across Europe. We form part of the Asmodee Group which was acquired by the Embracer Group in 2022. The Asmodee Group has offices across Europe, North America, South America and Australasia leading to a variety of taxes being generated.
Our tax risks
We consider the tax risks for our business to be relatively low and will seek advice and guidance from the wider group on issues such as transfer pricing. Our business units operate autonomously within the Asmodee Group when it comes to a tax strategy, but where inter-group transactions do occur, we conduct them on an arm’s length basis and in accordance with current OECD principles.
How we manage tax risk
We ensure that staff receive appropriate training and supervision to accurately reflect the tax nature of transactions. The Chief Financial Officer provides oversight and takes responsibility to ensure tax matters are correctly dealt with.
For more complex matters, we consult with our external tax advisors. We would then act based on their advice, for example making any relevant disclosures to HMRC, or seeking clearance on certain arrangements. Our intended approach is to be proactive in anticipating and managing tax issues as they arise with assistance from our external tax advisers.
Our attitude to tax planning
Our approach is to ensure we pay the right amount of tax based upon our trading results with only the most appropriate and acceptable tax planning strategies in place. Esdevium Games Limited acts largely autonomously from the rest of the Asmodee Group and acts mostly independently in terms of making any tax decisions.
We seek to operate in the most tax efficient manner, making use of relevant exemptions and incentives put in place by relevant tax authorities and OECD principles, for example capital allowances or investment allowances. Where they exist we seek to apply them in the manner intended.
Our tax strategy is not aggressive and we do not engage in artificial tax arrangements.
Our relationship with the tax authorities
Our relationship with HMRC is professional and straightforward, cooperating as and when required. We work collaboratively with our tax advisers (who act as agent on our behalf) to ensure that we meet all compliance obligations and that we pay the correct amount of tax.
We support the G20’s multilateral moves towards greater transparency in order to increase understanding of tax systems and build public trust. Therefore in accordance with OECD principles, we provide the necessary information to the tax authorities in which we operate to allow them to understand the operations and tax risk profile of our business units.
The Corporate Tax Strategy was updated and approved by the Board of Directors on 27 March 2024.
In making this tax strategy available Esdevium Games Limited is fulfilling its responsibilities under paragraph 16(2) Schedule 19 Finance Act 2016 for the financial year ending 31 March 2024.
This updated UK Corporate Tax Strategy is published by Asmodee UK Holding Limited on 27 March 2024 on behalf of itself and its subsidiaries to comply with paragraph 16(2) Schedule 19 Finance Act 2016 for the financial year ending 31 March 2024.