UK Tax Strategy Statement

This UK Tax Strategy Statement is published for the following companies:

  • Global Aerospace Underwriting Managers Limited
  • Global Aerospace Underwriters Limited
  • Global Limited
  • British Aviation Insurance Group Underwriting Services Limited
  • British Aviation Insurance Group (Technical Services) Limited
  • Associated Aviation Underwriters Limited
  • BAIG Limited


We are committed to high standards of corporate governance, transparency and responsibility in supporting the execution of our business strategy in general, and tax strategy in particular.

Approach to Tax Risk Management and Governance

We manage our tax affairs in accordance with our principles, which include integrity and operational proficiency. We further manage our tax affairs responsibly, transparently and in a way compatible with the requirements for HMRC’s low risk tax classification by being open and timely with HMRC about the management of 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 obligations; and maintaining clear accountabilities up to and including the Group Chief Operating Officer and the Board for the management of tax compliance risk and tax planning.

We endeavour to ensure that all decisions are made at an appropriate level, with diligent professional care and judgment. We strive to maintain compliance with tax laws and regulations through a strong system of internal governance, processes and controls. Tax compliance work is reviewed and approved by experienced qualified accountants before submission to tax authorities. The annual corporation tax return is also reviewed by qualified external advisors before submission. We periodically engage qualified external advisors to review our compliance with each major area of tax.

Attitude to Tax Planning

Business and commercial activities are the driving force of our business decisions. All transactions must have a genuine business purpose or commercial rationale. Where eligible, we may seek to utilise certain reliefs and incentives that exist, whilst complying with both the intention and letter of the law. External tax planning advice may be sought for material transactions, to assist in forming an opinion on uncertain positions, in instances where specialised knowledge is needed, or for overseas business ventures.

Approach to Dealing with HMRC

We are committed to maintaining an open, transparent and collaborative approach to our dealings with HMRC. We take care to ensure that our tax affairs are reported accurately. We are open and honest in all our communication. If we were to identify a non-trivial underpayment in a submitted tax return, we would seek to voluntarily disclose it as soon as reasonably practical, quantify the effect of the error, and pay any additional tax and interest due as a result.

Our published UK Tax Strategy Statement satisfies Para. 16 (2), Schedule 19, Finance Act 2016, in respect of our financial year ending 31 December 2023 and has been approved by the Board of Global Aerospace Underwriting Managers Limited.