UK Tax Strategy

Quanex Building Products Corporation: Uk Tax strategy-year ending October 31, 2025

Scope 

Introduction to Group structure 

This strategy applies to the group of UK companies headed by Quanex Building Products Corporation in accordance with paragraph 19 of Schedule 19 to the Finance Act 2016.  The strategy is being published in accordance with paragraph 19(4) of the Schedule.  A list of the entities to which it applies is set out below.  In this strategy, references to ‘Quanex Building Products Corporation’ or ‘the Group’ are to all these entities. The group regards this publication as complying with its duty under paragraph 16(2) Schedule 19 FA 2016 in its financial year ending 31/10/2024.

This strategy applies from the date of publication until it is superseded. References to ‘UK Taxation’ are to the taxes and duties set out in paragraph 15(1) of the Schedule which include Income Tax, Corporation Tax, PAYE, NIC, VAT, Insurance Premium Tax, and Stamp Duty Land Tax. References to ‘tax’, ‘taxes’ or ‘taxation’ are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which the Group has legal responsibilities.

Aim 

Quanex Building Products Corporation is committed to full compliance with all statutory obligations and full disclosure to relevant tax authorities. The group’s tax affairs are managed in a way which takes into account the group’s wider corporate reputation and governance.

Governance in relation to UK taxation  

Quanex Building Products Corporation manages risk utilizing centrally established policies and internal controls to safeguard its assets and profits from material risk of loss. Tax governance is part of our accounting and finance function. We rely on a centralized corporate tax department; aided by local finance team as well as external tax experts, to ensure compliance with tax regimes in the jurisdictions in which we operate, including the UK. The Finance team is staffed with appropriately qualified individuals. Tax processes are subject to the same level of internal controls, reviews and external audit as the rest of the company.

Risk Management 

• Quanex Building Products Corporation operates a system of tax risk assessment and controls as a component of the overall internal control framework applicable to the group’s financial reporting system;
• Quanex Building Products Corporation seeks to reduce the level of tax risk arising from its operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all processes which could materially affect its compliance with its tax obligations;
• Advice is sought from external advisers where appropriate.

Attitude towards tax planning and level of risk

Quanex Building Products Corporation manages risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax.

When entering into commercial transactions, Quanex Building Products Corporation seeks to take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. Quanex Building Products Corporation does not undertake tax planning unrelated to such commercial transactions.

The level of risk which Quanex Building Products Corporation accepts in relation to UK taxation is consistent with its overall objective of achieving certainty in the group’s tax affairs.  At all times Quanex Building Products Corporation seeks to comply fully with its regulatory and other obligations and to act in a way which upholds its reputation as a responsible corporate citizen.  In relation to any specific issue or transaction, the Board is ultimately responsible for identifying the risks, including tax risks, which need to be addressed and for determining what actions should be taken to manage those risks, having regard to the materiality of the amounts and obligations in question.

Relationship with HMRC 

Quanex Building Products Corporation seeks to have a transparent and constructive relationship with HMRC.

When submitting tax computations and returns to HMRC, Quanex Building Products Corporation discloses all relevant facts and identifies any transactions or issues where it considers that there is potential for the tax treatment to be uncertain.

Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.

List of entities covered by this Tax Strategy 

Flamstead Holdings Limited

H L Plastics Limited (dormant)

Avantek Machinery Limited

Liniar Limited

Edgetech (UK) Limited

Tyman Limited

Tyman Equities Limited (dormant)

Schlegel Acquisition Holdings Limited

Octroi Group Limited

Schlegel Limited

Schlegel Building Products Limited (dormant)

Jasper Acquisition Holdings Limited

Tyman Financial Services Limited

Tyman Management Limited

ERA Home Security Limited

ERA Products Limited (dormant)

Crompton Limited (dormant)

ERA Security Hardware Limited (dormant)

Window Fabrication & Fixing Supplies Limited (dormant)

Grouphomesafe Limited (dormant)

Balance UK Limited (dormant)

Bilco Access Solutions Limited

Profab Access Limited

Howe Green Limited

Response Electronics LTD (dormant)

Response Alarms Limited (dormant)

1687922 Limited (dormant)

Y-CAM Solutions Limited

Zoo Hardware Limited

Bilco UK, LTD.