Hermes Parcelnet Limited t/a Evri
Group Tax Strategy
Introduction
Evri is the UK’s biggest dedicated parcel delivery company handling more than 700 million parcels each year. We have 8,000 employees plus more than 20,000 self-employed couriers, with 3 national hubs, 25 regional depots, 400 local delivery units, and a network of 8,500 ParcelShops and over 3,000 lockers.
Evri works with a wide range of businesses in the UK from leading high street and online retailers to SMEs and micro-sellers. We also deliver for consumers through our www.evri.com website. Evri provides delivery solutions for anyone who wants to send a parcel in the UK and to more than 220 international destinations.
Scope
This strategy applies to the group of companies headed by Project Edge Topco Ltd (“the UK Group”) which includes the following UK companies: Edge Midco Limited, Edge Finco Plc, Edge Bidco Limited, Concert Topco Limited, Concert Midco Limited, Concert Bidco Limited, Concert Newco Limited, Evri Limited, Evri European Logistics Limited, Evri General Services (UK) Limited and Evri Parcelnet Limited.
The UK Group is a part of the wider Apollo Global Management Group which is a leading independent private equity investment business and operates on a global basis.
The strategy has been agreed by the relevant Executive Boards of the above UK Group entities and is considered to apply from its date of publication until it is superseded. Evri regards publication of the Strategy as fulfilling its obligation under paragraph 16(2) Schedule 19 FA 2016 for the period ended 1 March 2025.
Commitment to compliance
Evri aims to be a preferred choice for customers; building sustainable long-term relationships by acting fairly and, ethically with integrity, following necessary due process.
Evri always applies the core principles of social responsibility and sustainability to its business and considers potential reputational impacts as part of decision making.
Whilst the UK Group has a responsibility to deliver returns and value for its shareholders, the Group takes the requirements of all stakeholders into account and is committed to complying with UK tax rules and regulations and to paying the right amount of tax at the right time.
Apollo expect its member businesses to aim for strict adherence to local tax legislation and Evri maintains this commitment.
Tax governance
The CFO of Hermes Parcelnet Ltd (“CFO”) has assumed responsibility and ownership of the tax strategy for all tax matters, for all Group companies, with day to day management resting with the Head of Tax of Hermes Parcelnet Ltd. The CFO is also appointed as Senior Accounting Officer (“SAO”) with responsibility for monitoring the integrity of the respective financial reporting systems, internal controls and risk management frameworks which includes those elements relating to taxation.
Processes relating to specific UK taxes are allocated to appropriate internal specialists who maintain monitoring of systems and activities to identify and mitigate risks. Changes to business activity and in legislation are considered for impact on existing systems, processes and reporting, with required consequential changes made to address risks based on materiality and relevant obligations.
The UK Group is also required to report to and consult with the shareholders regarding material issues affecting the structure or operation of the UK businesses from a tax perspective, including identification of significant tax risks.
Responsible attitude toward risk and arranging our tax affairs
The UK Group seeks to actively identify, evaluate, monitor and manage tax risk associated with our business activities.
The UK Group aims for certainty on the tax positions adopted and, to adhere to our principles, any structuring undertaken will have commercial and economic substance.
The UK Group will take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, the tax legislation.
The UK Group will not enter into transactions which it considers are contrived, artificial or counter the spirit of the law or whose main purpose is to create an abusive tax result.
UK tax law is complex and constantly evolving meaning that the correct position can sometimes be unclear. We aim to resolve these uncertainties through discussion with HM Revenue & Customs wherever possible.
Where there is significant uncertainty, complexity or material amounts in question, in order to address identified risks, we may seek external advice from reputable tax advisors, legal firms or tax counsel as appropriate and will follow necessary due process.
Relationship with HMRC
The UK Group is committed to the principles of integrity, transparency and openness and seeks to apply these in its dealings with UK tax authorities. Wherever possible we seek constructive and early discussions on any new arising tax matter to obtain certainty.
The UK Group is committed to paying its UK taxes in full and on time and provide any relevant information requested by the tax authorities.
Dated: 28 February 2025