UK Tax Strategy

This tax strategy statement is published in compliance with the statutory obligation under Schedule 19 of the UK Finance Act 2016 for the iRobot group of companies (“iRobot”), for the financial year ending 31 December 2022. The tax representative company in the UK is iRobot UK Ltd. (“iRobot UK”), the following statement sets out the UK tax strategy for iRobot.

 

Tax Governance and Risk Management

iRobot recognizes that risks may arise in relation to the interpretation of increasingly complex tax laws. iRobot continuously identifies, monitors, and manages tax risks to ensure compliance with all relevant tax laws and that its tax approach remains aligned with its business and operational objectives. The iRobot tax team implements the company’s approach to tax and is responsible for ensuring that appropriate procedures and controls are in place. iRobot’s approach to tax, as well as the evolving tax laws and associated risks, are reviewed by its Chief Financial Officer and other finance leaders as well as by a committee of the Board of Directors tasked with accounting and financial oversight. Where the tax uncertainty or complexity is significant, iRobot seeks professional advice from reputable external tax advisers.

 

Tax Planning

iRobot undertakes tax planning in a manner that is aligned with the company’s overall business strategy and in compliance with all relevant tax laws. A primary factor in making business decisions concerns the provision and maintenance of the iRobot products and services to customers. Tax considerations are secondary and reasonably based on commercial operations and economic substance. Where appropriate, iRobot utilizes government-sponsored tax incentives or opportunities for obtaining tax efficiencies. Transactions between iRobot group companies are conducted on an arm’s-length basis and in accordance with relevant law and relevant OECD principles.

 

Level of Tax Risk Accepted

iRobot seeks to identify, assess and manage tax risks and to account for them appropriately. iRobot has no rigid levels of acceptable tax risk other than those imposed by applicable law.

 

Relationship with HMRC

iRobot seeks to maintain an open and transparent relationship based on mutual respect with the HMRC and to work collaboratively with the HMRC to resolve disputes and to achieve early agreement and certainty.

 

Date: 31 December 2022