All Metal Services (AMS) is a subsidiary of Reliance Steel & Aluminium Co. AMS provide our customers with a comprehensive range of aerospace metals, including aluminium, steel, titanium, nickel alloys and aluminium bronze. AMS has sites across the UK in locations including Birmingham, Bolton and Bristol, which are complemented by our global service centres in France, India, Malaysia and China.
AMS’ service centres have state of the art processing equipment offering full or cut-to-size materials, with the further option of utilising our centrally located in-house machining and water-jet cutting facilities for our customer’s more complex items.
Risk management and governance arrangements in relation to UK taxation
AMS is committed to complying with all relevant legal and regulatory taxation requirements and tax governance procedures. All employees are aware of their roles and responsibilities within the business and whenever tax implications of a transaction are not clear, members of the team will escalate queries to those who are suitably qualified within the finance function. Where the tax treatment of a transaction remains unclear following this escalation process, AMS seeks external advice from specialist tax consultants to ensure compliance.
AMS’ finance director is responsible for implementing our approach to tax and tax risk management. In particular, the finance director is responsible for ensuring that policies and procedures that support our approach are in place, maintained and used consistently across all of our locations.
AMS has developed an overarching tax control framework in response to its senior accounting officer certification obligation. As a result, AMS has a real time process in place for identifying and addressing any UK tax risks and consequently building a plan as to how to address risks that have been identified.
The level of risk in relation to UK taxation that we are prepared to accept
AMS’ directors consider the company’s attitudes towards UK tax to be risk averse. The company is subject to governance from the tax department of its parent company, Reliance Steel & Aluminium Co. (NYSE: RS), a US listed entity.
AMS has historically sought external advice from tax risk specialists in order to ensure that we are adopting a best-practice approach to our tax risk obligations.
Our attitude towards tax planning (so far as affecting UK taxation)
Transactions will not be led by a tax planning purpose. All tax decisions are made in response to commercial activity and tax is one of many factors taken into consideration when making such decisions.
AMS undertakes no specific planning in any area of taxation and takes professional advice to ensure compliance with all tax regulations. AMS is committed to making an economic contribution to society by paying all taxes in a timely manner.
Our approach towards our dealings with taxing authorities
AMS has always maintained an open and honest relationship with HMRC and will continue to do so. AMS has, and will continue to aim to, proactively engage with hmrc to confirm the treatment of uncertain tax positions, particularly where the application of legislation is industry specific, as is the case with customs duty.
We seek to provide HMRC with information on a voluntary basis in addition to that provided under tax filing requirements where it is understood that this will enable a more efficient administration of tax law.
This document is provided on behalf of the following qualifying entities in the group for the year ended 31 december 2019 pursuant to paragraph 19(2) schedule 19, finance act 2016 and is intended to comply with all other obligations within schedule 19 finance act 2016: