HydraB Power Group Tax Strategy

This tax strategy is published in accordance with Finance Act 2016, Schedule 19, paragraph 16. It applies to HydraB Power Ltd and to the group of companies headed by HydraB Power Ltd (hereinafter ‘the Group’), for the financial year ended December 2026.

Group overview

HydraB Power Limited is headquartered in the United Kingdom with interests in trading companies accelerating the transition to Net Zero, principally the production and repowering of low emission buses and in the production, storage and distribution of hydrogen for power.  Our strategy is to grow businesses in this specialised industry and to take our innovative solutions to the global market.

Tax risk management

The responsibility for Group’s tax affairs rests with our Group Chief Financial Officer (“CFO”) who is a member of Group Senior Leadership Team (“SLT”).

Day-to-day management of the tax function is delegated by the CFO to an experienced and appropriately qualified in-house Group Tax Director (“GTD”).

Suitably qualified in-house finance professionals prepare tax returns and where appropriate, tax compliance is outsourced to professional tax advisory firms.

Independent tax advisory firms are also engaged to assist with risk review and process improvement.

The CFO meets regularly with the GTD to review tax compliance and risk mitigation.

Tax planning

The GTD is brought into business planning early to ensure that transactions are tax compliant.

Transactions are commercially driven. We do not put in place artificial or contrived arrangements.

As part of planning, external tax advice may be sought to confirm in-house understanding and/or to ensure regulations are accurately understood.

Attitude to risk

Ultimately, the Board is responsible for setting attitude to tax risk.

The Board’s mandate for the Group is to behave in accordance with the low–risk characteristics as set out in HMRC’s Business Risk Review+ process and to act in a way which upholds our reputation as a responsible corporate citizen.

Working with HMRC

The Group is committed to maintaining a good working relationship with all tax authorities based on timely compliance, transparency and co-operation.

Where erroneous compliance is identified, the Group seeks to proactively engage with HMRC and ensure the matter is rectified.