Grieg UK Tax Strategy:
Grieg UK Tax Strategy
This document sets out the tax strategy undertaken by the Grieg Group to satisfy the UK statutory
obligation under Para 16(2), Schedule 19, Finance Act 2016; setting out the Grieg Group`s general
arrangements in relation to UK taxation, the attitude to tax planning and dealings with HM Revenue and
Customs (‘HMRC’) as well as the group’s approach to tax risk management. In this document, references
to ‘Grieg UK’ and the ‘group’ are to all the Grieg Group`s UK companies as set out in Appendix A. The
document has been approved by the Board of Directors of Grieg Maturitas AS, ultimate parent company
in the Grieg Group.
Grieg’s core business covers three main areas, offering services to customers
worldwide with over 1,900 committed and enthusiastic employees. These areas cover
shipping and logistics, where our services range from efficient port handling to
designing and operating vessels; investing, ensuring that each investment has a
meaningful impact on the group’s portfolio; and seafood, operating as one of the
world’s leading fish farming companies, specialising in salmon.
The Grieg Group is managed with a core principle that we do what we say throughout
the business in all aspects, including our tax strategy.
The overall tax strategy of Grieg UK is to remain open and honest while being
compliant with all applicable UK tax rules. We organise the group and structure our
transactions in the most tax efficient manner possible.
One of Grieg’s core values is to be open and honest and this carries through into the
tax strategy of the group, ensuring that we are transparent and act as a responsible
taxpayer in the UK. We act with integrity and professionally with regards to UK tax
The strategy requires Grieg UK to ensure that all applicable laws and regulations are
complied with. Implementation of internal controls and risk management aid in
ensuring that this is achieved and that we remain compliant.
Grieg UK’s internal control policy requires that the group’s goals will be achieved in
complying with all laws and regulations – including UK taxation rules. Grieg therefore
maintains that all of our affairs are structured in such a way that are in accordance
with relevant tax legislation.
Tax is considered with every major transaction and thus is an integral aspect of every
significant business decision in Grieg UK.
Tax Risk Management
Grieg UK do not take an aggressive tax position and therefore we are not prepared to
accept a high level of risk.
External advice and guidance is often sought where transactions or other affairs lead
to increased or significant risk in relation to remaining compliant with UK tax laws and
Obtaining external advice on transactions with complex taxation consequences forms
part of Grieg UK’s tax planning strategy and ensures that the company operates in a
tax efficient manner.
Where necessary, Grieg UK will seek to liaise with the relevant tax authorities when
interpretation of tax law may not be certain and judgement must be applied in order
to mitigate the level of tax risk.
Dealings with Tax Authorities
Grieg’s principle of being open and acting with honesty extends to all dealings with tax
authorities, including HMRC, remaining fully cooperative and transparent in all
interactions with the relevant authorities.
Grieg ensures that all dealings with tax authorities are approached with respect,
integrity and veracity.
There may be areas where interpretation of certain tax law differs between parties
and when this occurs we ensure that feedback is obtained with ongoing and proactive
communication with the tax authorities in order to bring about a fair and swift
Grieg UK Companies
Grieg Shipbrokers Limited
Grieg Seafood Hjaltland UK Limited
Grieg Seafood Shetland Limited
Ocean Quality UK Limited
Collarfirth Salmon Limited
Fish Holm Limited
Vidlin Seafarms Limited
Hjaltland Hatcheries Limited
Lerwick Fish Traders Limited
Shetland Product Limited
Grieg Seafood Isle of Skye Limited