UK Tax strategy: scope and application

This tax strategy, which applies to TJX Europe Ltd and its UK subsidiaries (the “TJX UK Group” or “we”), outlines our approach to the management of our tax affairs in the UK, as of the date of its initial publication. TJX Europe Ltd is part of The TJX Companies, Inc. group of companies (“TJX”).

The publication of this tax strategy is intended to comply with our duty under Schedule 19 Finance Act 2016 to publish a tax strategy for the financial year ended 3 February 2024.

Risk management and governance arrangements

As part of our governance practices, we are committed to high standards of ethics, including with respect to our tax affairs in the UK. Many of the policies outlined in our Corporate Governance Principles, codes of conduct and ethics, and other governance documents create an important framework for our core values of honesty, integrity and treating each other with dignity and respect. Such policies inform our approach to risk management dealings with HMRC. Many of our corporate governance documents are available on tjx.com under Investors/Governance.

The Audit and Finance Committee of the Board of Directors of The TJX Companies, Inc., TJX Europe Ltd’s ultimate parent company, is ultimately responsible for the oversight of TJX’s tax strategy and the supporting governance framework. The board of directors of TJX Europe Ltd is responsible for overseeing our UK tax strategy, which is aligned with TJX’s broader tax strategy.

Attitude towards tax planning and level of risk

We seek to comply with the tax laws and regulations in all territories in which we operate. Our policy is to take a prudent approach to UK tax planning, which reflects our limited appetite for UK tax risk, and to not undertake transactions that we believe will harm our reputation. When we believe there is significant uncertainty or complexity regarding UK taxation matters, we seek professional advice and discuss the matter with HMRC if appropriate.

Relationship with HMRC

We seek to maintain an open, transparent and collaborative relationship with HMRC, with the aim of reducing tax risks, tax disputes and reputational risk.