BlackRock Corporate UK Tax Strategy

BlackRock has built a constructive and collaborative relationship with HM Revenue & Customs, following a policy of open disclosure to achieve early agreement and certainty in relation to its UK tax affairs. Where appropriate, we engage with both HM Revenue & Customs and HM Treasury to contribute to the development of UK and international tax policy and legislation, to better serve our investors and other stakeholders. Where necessary and available, we may apply for clearances from HM Revenue & Customs.

As part of our UK tax strategy, we:

  • Comply with legal requirements relating to UK tax compliance matters, such as filing tax returns and making tax payments in accordance with statutory timelines
  • Engage in tax planning, with the aim of providing increased value to our shareholders, whilst carefully balancing the interests of our stakeholders
  • Aim to ensure that where our subsidiaries transact with each other, such transactions are undertaken on an arm’s length basis in compliance with relevant UK legislation as well as international guidance and practice such as those provided by the Organisation for Economic Co-operation and Development
  • Manage our tax risks by employing qualified tax professionals, and when we consider it necessary, seek appropriate tax advice from reputable professional firms
  • Operate appropriate tax risk governance processes, including oversight by the BlackRock Group Limited Board of Directors, which includes non-executive directors who provide independent oversight. Further, our tax affairs are regularly scrutinised by our external auditors and by HM Revenue & Customs as part of the normal course of local tax compliance procedures