Tax Strategy 2023

Ecopac UK Power Ltd

Tax Strategy and Approach

United Kingdom

This strategy applies to all TTI, Inc (including RFMW and Braemac) and Mouser Electronics, Inc. companies and branches organized in the UK.

The VP of tax of TTI, Inc is responsible for implementation of the tax policy.

Our parent company, Berkshire Hathaway, Inc., requires that we pursue a low-risk tax policy and engage with her Majesty’s Revenue & Customs (“HMRC”) in an open and honest manner.

We strive to manage our tax affairs in a strict accordance with all applicable laws and regulations and the ethical standards of TTI, Inc., Mouser Electronics, Inc., and Berkshire Hathaway.

We seek to manage our tax affairs responsibly and transparently in a way that is compatible with the requirements for preserving HMRC’s current low tax risk classification by:

  • Being open and timely with HMRC about the management of all tax compliance risk
  • Raising significant compliance issues, uncertainties and/or irregularities with HMRC as they arise
  • Promptly providing full, accurate and helpful answers to HMRC queries
  • Providing appropriate resources to deal with all tax reporting obligations

We strive to comply with all tax laws and legislation via a strong system of internal governance that requires well-documented internal processes and controls, using qualified personnel.

We strive to ensure all decisions are made at an appropriate level, with professional care and judgment supported with documentation that evidences the facts, conclusions, and risk involved.

We strive to actively seek open dialogue with HMRC and provide all relevant information that is necessary for HMRC to review possible tax risks, while working collaboratively with HMRC to achieve early agreement on disputed issues whenever possible.

We aim to ensure all tax returns and tax payments are made within statutory deadlines and provide all relevant tax-related information and documents that may be requested by HMRC on a timely basis.

We never deliberately conceal or knowingly misrepresent issues to the HMRC. If we discover errors, we will disclose them as soon as reasonably practical.

All transactions must be fully justifiable and have a business purpose or commercial rationale.

We seek to utilize certain reliefs and incentives that may exist, while showing respect for the intent, as well as law and regulations.

We aim to only adopt a tax-planning position that we believe is more likely that not to be settled in our favour after making full disclosure of relevant facts to HMRC.

We do not use artificial structures that are unrelated business for the sole purpose of reducing our tax burden.

External tax planning advice may be sought for:

  • Large, unusual transactions; or
  • To assist in forming an opinion of potentially uncertain positions.

TTI, Inc. and Mouser Electronics, Inc. regard the publication of this strategy as satisfying our statutory obligation under Para 22 (2), Schedule 19 of the UK Finance Act 2016 in respect of TTI's financial year ending 31 December 2023.

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