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+44 (0) 20 8231 1000

By: Stephanie Biret   -  In: General,News   -  0   Comments

Prestolite Electric Limited (PEL) is a manufacturer and supplier of alternators, starters, other electrical equipment and services to the transportation, industrial and military industry. Our immediate parent company Prestolite Incorporated (‘Prestolite Inc.’) is based in the US.  Our ultimate parent company Broad-Ocean Motor Co. Limited is based in China and provides global customers with safe, environmentally friendly and efficient motor drive system solutions.

 

PEL is a small component of the much larger multinational Broad-Ocean group. Our UK tax strategy is one of straight forward compliance.  We are risk averse on tax matters and pride ourselves in meeting our obligations.

 

Tax governance and risk management

 

The managing director directly oversees the tax affairs of the company. This includes the review and approval of all tax returns and payments and raising tax issues with the wider Board as required.

 

As there a number of common directorships between Prestolite Electric Limited, our immediate parent Prestolite Inc. and Broad-Ocean Motor Co. Limited tax activity is coordinated and intercompany transactions are carried out on an arm’s length basis.

 

Compliance activities are performed by the financial controller and outsource providers. Tax risk is therefore managed by the use of reputable third party providers and ensuring staff are appropriately trained and qualified.

 

We also consult with advisors to ensure we are up to date with changes to tax legislation and are able to identify and manage any associated risks.

 

Planning

 

As a small business the Board of directors has close involvement in all commercial decision making and ensure tax aspects are appropriately considered.

 

We seek to predict and understand the tax implications of our business decisions but we do not pursue aggressive tax planning or avoidance activity.

 

HMRC relationship

 

We have a strong track record of compliance and as such have limited interaction with HMRC.

 

Communication with HMRC is typically limited to administrative queries.

 

If required, we will respond to any information requests by HMRC in a transparent and timely manner.

 

 

 

This UK tax strategy statement has been approved by Prestolite Electric Limited’s Board of Directors and its publication is regarded as complying with Part 2 of Schedule 19 of the 2016 Finance Act in respect of the year ended 31 December 2017.


Prestolite Electric Ltd UK – Europe (PEL)

Unit 48, The Metropolitan Park
12-16 Bristol Road
Greenford,
Middlesex
UB6 8UP
England

Phone: +44 (0) 20 8231 1000
Fax: +44 (0) 20 8575 9575

eu_info@prestolite.com

Certifications

phone
+44 (0) 20 8231 1000

Prestolite Electric Ltd Beijing (PEBL)

Songzhuang Tongzhou District Beijing
P.C:101118

Tel: 010-69596333
Fax: 010-80856297

marketing@prestolite-bj.com

Prestolite Electric International – North America (PEI)

Manufacturing, OE Sales
400 Main Street
Arcade, NY, USA 14009

Phone: (585) 492-1700
Fax: (585) 492-1660

info@prestolite.com

Distribution, Aftermarket Sales
7585 Empire Drive
Florence, Kentucky, USA, 41042

Phone: (859) 525-8801
Fax: (859) 525-8814

info@prestolite.com

Global Headquarters

30120 Hudson Drive
Novi, MI, USA 48377

Phone: 1-866-463-7078
Fax: (248) 863-2341

corpinfo@prestolite.com

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