Rightmove’s approach to taxation forms part of the Group’s broader commitment to its corporate and social responsibilities and it is committed to paying the right amount of tax, at the right time.
Rightmove manages tax matters in line with the following principles:
Risk Appetite and Tax Planning
Tax planning forms part of Rightmove’s commercial business decision processes. Once commercial business decisions are made, the tax implications and risks are assessed. The most efficient tax treatment, that is in line with UK tax law and the Group’s corporate and social responsibilities, will be applied.
The Board determines the level of tax risk, which is conservative. Tax risks are monitored for commercial and legislative changes and risks are reviewed semi-annually by the Board and Audit Committee.
Risk Management and Governance Framework
The Chief Financial Officer is Rightmove’s SAO. All tax matters are managed by the Group Tax Manager, supported by the Finance team, who together hold a combination of tax and accounting qualifications, tax experience and are in regular dialogue with operational teams across the business. Advisory and technical tax support is also provided by external accounting and tax advisors. Legal and compliance matters are dealt with either by inhouse or external lawyers with the required skills.
Internal policies, controls and procedures are in place to identify and quantify key tax risks. These are kept under regular review and are revised when there are changes in tax legislation and/or material changes within the Group. The Audit Committee receives regular updates from the Chief Financial Officer on the Group’s tax position, compliance risk, planning and use of advisory firms.
Working with Tax Authorities
Rightmove has an open and constructive relationship with HMRC and a proactive and co-operative dialogue. All necessary tax disclosures are made on a timely basis.
Tax queries are dealt with when they arise. If errors occur, they are disclosed to HMRC at the earliest opportunity. Any additional procedures required are put in place to ensure that such errors do not arise in future.
This tax strategy applies to Rightmove’s financial year ending 31 December 2023.