UK Tax Strategy

Scope
Introduction to Group structure

This strategy applies to Constantia EquityCo Limited and to the group of companies headed by Capripack EquityCo Limited in accordance with paragraph 16(2) of Schedule 19 to the Finance Act 2016. A list of the entities to which this document applies is set out below. In this strategy, references to ‘Constantia EquityCo Limited’ ‘the Constantia Flexibles Group’ or ‘the Group’ are all made in regard to these entities. This tax strategy was published on 10 April 2025 and the Group regards this publication as complying with its duty under paragraph 16(2) Schedule 19 FA 2016 in its financial year ended 31 December 2024.

This strategy applies from the date of publication until it is superseded. References to ‘UK Taxation’ are to the taxes and duties set out in paragraph 15(1) of the Schedule which include Income Tax, Corporation Tax. PAYE, NIC, VAT, Insurance Premium Tax, and Stamp Duty Land Tax. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which the Group has legal responsibilities.

Aim

The Constantia Flexibles Group is committed to full compliance with all statutory obligations and full disclosure to relevant tax authorities. The Group’s tax affairs are managed in a way which takes into account the Group’s wider corporate reputation in line with the Group’s overall high standards of governance.

Governance in relation to UK taxation

  • Ultimate responsibility for the Group’s tax strategy and compliance rests with the Board of Capripack EquityCo Limited;
  • Executive management of the Group is delegated by the Board to the VP Group tax and risk;
  • The Audit & Risk Committee’s requirement to monitor the integrity of the Group’s financial reporting system, internal controls and risk management framework, expressly includes those elements relating to taxation;
  • The Chief Financial Officer (‘CFO’) of the Constantia Flexibles Group has executive responsibility for tax matters;
  • The VP Group tax and risk reports to the CFO of the Constanta Flexibles Group;
  • Day-to-day management of the Group’s tax affairs is delegated to the local Heads of Finance of all UK entities, who report in their tax function to the VP Group tax and risk;
  • The UK Finance and Group Tax teams are staffed with appropriately qualified individuals;
  • The Board ensures that the Group’s tax strategy is one of the factors considered in all investments and significant business decisions taken;
  • The VP Group tax and risk reports to the Audit and Risk Committee and the Board on the Group’s tax affairs and risks during the year.

Risk management

  • The Group operates a system of tax risk assessment and controls as a component of the overall internal control framework applicable to the group’s financial reporting system;
  • The Group seeks to recuse the level of tax risk arising from its operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all processes which could materially affect its compliance with its tax obligations;
  • Processes relating to different taxes are allocation to appropriate process owners, who carry out a review of activities and processes to identify key risks and mitigation controls in place. These key risks are monitored for business and legislative changes which may impact them and changes to processes or controls are made when required;
  • Appropriate training is carried out for staff outside the Tax team who manage, or process matters which have tax implications;
  • Professional advice is sought from external advisers where appropriate.

Attitude towards tax planning and level of risk

The Group manages risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax.

When entering into commercial transactions, the Group seeks to take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. The Group does not undertake tax planning unrelated to such commercial translations.

The level of risk which the Group accepts in relation to UK taxation is consistent with its overall objective of achieving certainty in the group’s tax affairs. At all times the Group seeks to comply fully with its regulatory and other obligations and to act in a way which upholds its reputation as a responsible corporate citizen. In relation to any specific issue or transaction, the Board is ultimately responsible for identifying the risks, including tax risks, which need to be addressed and for determining what actions should be taken to manage those risks, having regard to the materiality of the amounts and obligations in question.

Relationship with HMRC

The Group seeks to have transparent and constructive relationship with HMRC. When submitting tax computations and returns to HMRC, the Group discloses all relevant facts and identifies any significant transactions, business changes or issues where it condors that there is potential for the tax treatment to be uncertain.

And inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.

List of entities covereby by this Tax Strategy

  • Capripack EquityCo Limited
  • Capripack Warehouse Limited
  • Capripack Midco 1 Limited
  • Capripack Midco 2 Limited
  • Capripack Holdco Limited
  • Capripack DebtCo PLC
  • Constantia Sittingbourne Limited
  • Constantia FFP Limited