Clarivate – UK Tax Strategy
Our approach to tax
We commit to complying with all global tax regulations and paying the correct amount of tax in a responsible manner with due regard to governments and shareholders and to maintain open and constructive relationships with all tax authorities.
As a complex international business there are instances where our commercial activities require tax planning to be undertaken which may achieve legitimate tax savings. The purpose of this is to ensure we comply with the tax laws of the countries where we operate whilst achieving our commitment of enhancing shareholder economic value. Tax evasion in any form is not acceptable.
Tax Governance
The Board of Directors of Clarivate PLC (“the Board”) has ultimate responsibility for tax. Operational responsibility for tax is within the remit of the Group Finance Team, which has strong and clear communication channels with the Audit and Finance Committees, Group Chief Executive Officer and Group Chief Financial Officer, ensuring tax issues are appropriately considered and reviewed when making business decisions. The Board is regularly updated on tax regulations and related tax matters that may have a
material impact on our financial results, changes in law and new complex compliance requirements with significant items publicly disclosed in accordance with our NYSE listing requirements.
We have a dedicated team of experienced tax professionals who work closely with the business functions and where there are significant levels of complexity or uncertainty are supported by external advisers. They ensure inherent tax risks are identified and managed with appropriate professional care and judgement.
Attitude to tax risk
Our approach to assessing the level of tax risk is the same as that applied to other business risks and is assessed on a case by case basis and aligned to our Business Code of Conduct and related policies. Any potential tax risk will be considered during the planning process to ensure a prudent and reasonable approach is taken.
Clarivate is fully committed to ethical business practices and everyone working for the group is required to observe the highest standards of integrity and personal ethics when conducting business on behalf of the Company. We rely on guiding principles set out in our Business Code of Conduct that help us to operate ethically, comply with applicable laws, rules and regulation and behave as responsible corporate citizens.
Working with HMRC
We are committed to developing and maintaining an open relationship with HMRC, making fair, timely and accurate disclosure in correspondence and returns. We strive to conduct all dealings in a cooperative, courteous and timely manner and aim for early agreement on open matters.
This document has been adopted by Clarivate Board of Directors and sets forth the strategic tax objectives in relation to the UK business of Clarivate for the period to 31 December 2024. This complies with the UK tax strategy publication requirement of Schedule 19 Finance Act 2016
