Fair Tax Mark

Tax Policy

Talieisin Ltd ("we" / "the Company") is committed to paying all the taxes it owes in accordance with the spirit of all tax laws that apply to its operations. We believe paying our taxes in this way is the clearest indication we can give of being responsible participants in society. We will fulfil our commitment to paying the appropriate taxes that we owe by seeking to pay the right amount of tax, in the right place, and at the right time. We aim to do this by ensuring we report our tax affairs in ways that reflect the economic reality of the transactions that we undertake during the course of our trade.

We will not seek to use those options made available in tax law, or the allowances and reliefs that it provides, in ways that are contrary to the spirit of the law. Nor will we undertake specific transactions with the sole or main aim of securing tax advantages that would otherwise not be available to us based on the reality of the trade that we undertake. The Company will never undertake transactions that would require notification to HM Revenue & Customs under the Disclosure of Tax Avoidance Schemes Regulations or participate in any arrangement to which it might be reasonably anticipated that the UK's General Anti-Abuse Rule might apply.

We believe tax havens undermine the UK's tax system. As a result, while we may trade with customers and suppliers genuinely located in places considered to be tax havens, we will not make use of those places to secure a tax advantage, nor will we take advantage of the secrecy that many such jurisdictions provide for transactions recorded within them.

Our accounts and tax filings will be prepared in compliance with this policy, and we will seek to provide all the information that users, including HM Revenue & Customs, might need to properly appraise our tax position.

Company Information

The Company is a private company limited by shares, incorporated in 2021, which provides information technology consultancy services.

Our registered address is Aardvark Accounting, 1 Cedar Office Park, Cobham Road, Wimborne, United Kingdom, BH21 7SB. However, we operate with a fully remote workforce and do not currently have a trading address.

The Company is owned and controlled by its directors: George Elphick and Julie Elphick – who each own 50% of the issued share capital.

Tax Information

Our average net profit before tax over the three years ending on 31 December 2024 was £181,346. The expected corporation tax charge on these average accounting profits would be £38,879 (21.44%). Our actual average current tax charge over this period was £32,479 (17.91%); and the reason for this being less than what would be expected is explained below in the following current tax reconciliation with accompanying footnotes:

1. The treatment of fixed assets is different for accounting and tax purposes. For accounting purposes, fixed assets are depreciated over their useful economic lives. For tax, there are specific rules on what can be claimed and when (capital allowances). These differences can create tax adjustments. However, these tax adjustments are only timing differences, as eventually the total depreciation charged in the accounts will match the total capital allowances claimed on tax returns. We have not made a provision in our accounts in relation to these timing differences (i.e., no deferred tax has been accounted for).

   In our case, capital allowances claimed have exceeded accounting depreciation across the three financial years, which has the effect of reducing the expected amount of tax payable.

2. Some business expenses, although entirely appropriate for inclusion in the accounts, are not allowed as a deduction against taxable income when calculating the tax liability. An example of such an expense could be client entertaining.
3. From 1 April 2023, the main tax rate for companies in the UK with taxable profits over £250,000 increased from 19% to 25%. The small profits tax rate for companies with taxable profits below £50,000 stayed at 19%. For companies with taxable profits between these limits, the main tax rate is applied, but marginal relief is provided to gradually increase the corporation tax rate between the small profits rate and the main rate.

This statement was compiled in partnership with the Fair Tax Foundation. A formally formatted, signed copy is available to download:

Download the signed Fair Tax Mark Statement 2024-25 (PDF)