Legals
Welspun World Company Policies
Welspun UK Ltd Tax Strategy
Background
The Finance Bill 2016 introduced the requirement for certain businesses in the UK to publish their tax strategy as it relates to or affects UK taxation.
This document sets out the strategic tax objectives of Welspun UK Ltd and its UK subsidiaries. Welspun UK Ltd, being a subsidiary of Welspun India Ltd and ultimately a part of the Welspun Group is within the scope of the requirement.
The strategy is publicly available on Welspun UK Ltd.’s website in order to allow external stakeholders to understand the company’s approach to tax. The strategy is compliant with the UK tax strategy publication requirement set out in Part 2 of Schedule 19 FA 2016. Welspun UK Ltd is a responsible taxpayer and strives to maintain this responsible attitude towards tax. This is recognised in its tax strategy, which establishes an approach based on openness and transparency in all aspects of tax reporting and compliance, for both Welspun UK Ltd and its subsidiaries.
Our overall tax strategy is to:
- Meet all legislative requirements and make appropriate tax returns and tax payments
- Maintain a good relationship with HMRC by adhering to all HMRC rules and compliances
- Conduct a tax risk assessment and look to mitigate those risks with senior management buy-in
- Consider the tax impact in major or complex business decisions
- Seek to utilise tax reliefs and incentives where available in compliance with government legislation
- Obtain professional advice where necessary to ensure appropriate tax treatment
- Operate in an environment where we consider tax in the context of our reputation and brand
- Inform and educate employees on basic tax rules and the importance of compliance
Tax Planning
Welspun UK Ltd incorporates tax planning as part of its overall business strategy and will consider undertaking a transaction in a way that leads to UK tax efficiencies providing it is aligned with the company’s business strategy and complies with UK tax legislation. The company will not engage in tax efficiencies if the underlying commercial objectives do not support the position, or if the arrangements impact upon the company’s reputation, brand, corporate and social responsibilities, or future working relationships with HMRC.
Risk Management
The company’s risk management is led and directed at board level. There is a code of conduct for all staff and there also is an induction session for all staff at the beginning of employment. The board of directors are responsible for the company’s risk management approach and the board coordinates risk management from a strategic viewpoint. However, the day to day risk management is coordinated and driven by members of the finance team; specifically, the Finance Director and Finance Controller.
Attitude towards risk
Welspun UK Ltd currently has a low tax risk as measured by the HMRC’s Business Risk Review process, and it aims to maintain this low level of risk through the following methods:
- Prompt submission of all UK tax returns with detailed accuracy so that it’s easy for the tax authorities to gain an accurate view of the company’s affairs, aided by a clear signing off process and audit trail
- Paying the appropriate amount of tax in a timely manner
- Ensure all tax filing positions are supported with appropriate documentary evidence
The Board is conscious of the external perception of a group’s attitude towards tax, and sees strong internal processes and a good relationship with our professional advisors as the best way to manage this reputational risk.
Approach towards dealings with the HMRC
Welspun UK Ltd aims to have a strong relationship with HMRC, and plans to build on this already strong relationship by ensuring tax compliances are timely and deadlines for tax filings and payments are met. We will continually seek the advice of our tax consultants to ensure that all legislation is adhered to and nothing is missed out. This way, we can forge a strong relationship with HMRC and ultimately reduce our tax risk.
Modern Slavery Act Transparency Statement
This statement is made by Welspun UK Ltd for the financial year ending 31st March 2026, in accordance with Section 54(1) of the UK Modern Slavery Act 2015.
Opening Statement from Senior Management
Welspun UK is committed to ensuring that our business and supply chain reflect our values and respect for human rights. We are committed to combating and preventing modern slavery and human trafficking in all our supply chains and within our UK operations.
All employees involved in the engagement of suppliers must communicate our approach to all prospective parties at the outset of our business relationship and monitor compliance thereafter. We will terminate our relationship with third parties who fail to meet our standards.
Welspun UK Ltd
Welspun UK Ltd is an importer, manufacturer, and distributor of textiles, specifically bed linens, flooring, and towels to the UK and European markets. Welspun UK has operations in and sources goods and services from the United Kingdom, India, China, Pakistan, Turkey, Portugal, Spain, and Denmark.
Our organisational structure and our business
Welspun UK Ltd is a leading multinational company whose core business is the sale and distribution of home textiles and furnishing goods, with its head office located in Stockport, SK4 1BS. Welspun UK is governed by its Board of Directors and various sub-committees.
Our supply chains
Our key supply chains include procuring goods and services from the United Kingdom, India, China, Pakistan, Turkey, Portugal, Spain, and Denmark.
Risk assessment and management
We continue to improve our understanding of modern slavery-related risks within our business and supply chains. We recognise that certain sourcing regions and manufacturing sectors may present a higher risk of labour rights violations, including forced and child labour.
During the reporting period, we have continued to assess and prioritise these risks and implement measures to reduce the likelihood of modern slavery occurring within our operations and supply chains.
Our policies in relation to slavery and human trafficking
Welspun UK is committed to combatting modern slavery and human trafficking. We have implemented the following policies:
• Ethics and Compliance Policy
• Code of Conduct
• Whistleblowing Policy
• SEDEX Membership
These policies set out our expectations for ethical business conduct and compliance with all applicable laws and regulations in the countries where we operate.
Our due diligence processes
In addition to SEDEX membership, which supports transparency in supply chains, Welspun UK Ltd has established processes to vet potential and existing suppliers for their involvement in modern slavery and human trafficking by:
• Requiring independent ethical audits (such as SA8000 or SMETA) to be conducted on a regular basis
• Reviewing corrective action reports for each supplier
• Conducting on-site visits at least every two years
• Screening suppliers for the presence of forced and child labour through internal and independent audit processes
If we discover evidence of slavery or human trafficking within our supply chain, we will cease doing business with the supplier and report such conduct to the relevant authorities, where appropriate. We do not engage with suppliers who fail to provide a valid and current independent social audit report and corrective action plan.
Training and awareness
Welspun UK provides training and awareness programmes to relevant employees, particularly those involved in procurement and supply chain management, to ensure they understand the risks of modern slavery and how to identify and report concerns.
Measuring effectiveness
We continue to monitor the effectiveness of our approach to preventing modern slavery by:
• Tracking the completion of independent ethical audits across our supplier base
• Monitoring the implementation and closure of corrective actions identified during audits
• Reviewing feedback from supplier visits conducted by Welspun UK Ltd staff or appointed agents
• Maintaining oversight of supplier compliance with our ethical standards
Looking ahead
The Company will continue its practices in respect of combatting slavery and human trafficking and will focus on areas of its business where there is a higher potential risk of modern slavery. We regularly review and update our Supplier Code of Conduct to reflect the latest best practice guidance.
Approval
This statement has been approved by the Board of Directors of Welspun UK Ltd and is reviewed on an annual basis.
Amit Jain
Director and Chief Financial Officer
To request a copy of one of our previous Modern Slavery Statements, please email dpco@christy.co.uk
