L1R HB Holdings Limited, and its subsidiaries ("Holland & Barrett", the "Group", or "H&B")
Tax strategy - year ended 30 September 2026
Published on 30 September 2026
Introduction and scope
Holland & Barrett International Limited and its subsidiaries (together, “Holland & Barrett”, “H&B” or the “Group”) operate an international health and wellness business, with the UK being the Group’s principal market.
This Tax Strategy sets out H&B’s approach to managing its tax affairs and tax risks, including its approach to tax planning, the level of tax risk it is prepared to accept, its tax risk management and governance arrangements, and its relationship with HM Revenue & Customs (“HMRC”).
This Tax Strategy was approved by the Board of Holland & Barrett International Limited (the “Board”) on 30 September 2026.
This Tax Strategy is published in accordance with paragraph 19(2) of Schedule 19 to the Finance Act 2016 in respect of the UK sub-group headed by Holland & Barrett International Limited. It contains the information required by paragraph 20 of Schedule 19.
Commitment to compliance
H&B is committed to complying with applicable tax laws in the jurisdictions in which it operates and to meeting its tax obligations in a responsible and timely manner. We monitor changes in tax legislation and practice and assess and implement changes that are relevant to the Group.
For H&B, tax compliance means paying and collecting the right amount of tax in the right place at the right time, making appropriate disclosures to tax authorities, maintaining suitable supporting records, and claiming available reliefs and incentives where these are consistent with the law and the commitments set out in this strategy.
Approach to tax risk management and governance
The Board approves the Group’s Tax Strategy. The Group’s Executive Committee oversees the management of material tax matters within the wider governance framework of the business.
The Chief Financial Officer has ultimate executive responsibility for tax and is the designated Senior Accounting Officer (“SAO”). The Director of Financial Control is responsible for the day-to-day management of the Group’s tax affairs, supported by appropriately qualified and experienced finance and tax personnel and, where appropriate, external professional advisers.
Tax risks are identified, assessed, managed and monitored through the Group’s tax governance framework and its wider financial control environment. The Group maintains tax accounting arrangements and controls designed to support compliance with its UK tax obligations, including the requirements of the SAO regime. Significant tax matters are escalated for review and approval at an appropriate level having regard to their financial impact, complexity, uncertainty and potential reputational consequences.
Where a matter is material, complex or uncertain, H&B may obtain external advice and, where appropriate, engage with HMRC in order to obtain greater certainty and manage the risk transparently.
Attitude towards tax planning
H&B manages its tax affairs in a manner that supports the Group’s commercial activities and long-term objectives. Tax is one of the factors considered when structuring commercial arrangements, but transactions should be driven by genuine commercial and economic activity rather than by the pursuit of an artificial tax result.
Any tax planning undertaken by the Group must:
• support genuine commercial and economic activity;
• produce tax outcomes that are consistent with the underlying economic substance of the arrangements;
• comply with applicable tax law and take account of the intention of the relevant legislation;
• be consistent with the Group’s purpose, values and overall approach to responsible business;
• take account of the potential impact on the Group’s reputation and relationships with stakeholders; and
• be capable of being explained openly to the relevant tax authority.
H&B will not undertake tax planning that is contrived or artificial. External advisers may be engaged where specialist input is required or where there is significant uncertainty or complexity.
Level of tax risk accepted
The Group has a low to medium appetite for tax risk. H&B recognises that tax risk cannot be eliminated entirely because tax legislation can be complex, its application may be uncertain, and the Group undertakes a wide range of transactions across multiple jurisdictions.
Tax risks are considered on a case-by-case basis. In determining whether a tax position is acceptable, H&B considers the strength of the technical analysis, the commercial and economic substance of the transaction, the financial exposure, the likelihood and potential consequences of challenge, the Group’s wider risk appetite, and any potential reputational impact.
Where there is significant uncertainty, H&B may seek external advice and/or discuss the matter with HMRC or another relevant tax authority. The Group does not seek to take positions that depend on an aggressive interpretation of tax law or on a lack of transparency with tax authorities.
Approach to dealings with HMRC and other tax authorities
H&B seeks to maintain open, constructive and professional relationships with HMRC and the other tax authorities with which it interacts. Our approach is based on honesty, integrity, respect and transparency.
We engage with HMRC through our Customer Compliance Manager (“CCM”) and other relevant HMRC teams, and we seek to raise material or uncertain tax matters proactively where this is appropriate. We aim to provide information requested by HMRC on a timely basis and to disclose relevant facts and circumstances so that matters can be considered on an informed basis.
Where disagreements arise, H&B seeks to resolve them through constructive discussion and, where necessary, the appropriate formal processes. Our objective is to achieve certainty and compliance while protecting the Group’s legitimate commercial interests.
Application across the Group
The principles set out in this Tax Strategy apply to the UK sub-group headed by Holland & Barrett International Limited for the purposes of Schedule 19 to the Finance Act 2016. H&B adopts a consistent approach to tax compliance, planning, risk management, governance and engagement with tax authorities across the jurisdictions in which it operates, subject to local legal and regulatory requirements.
Approved by the Board of Holland & Barrett International Limited on 30 September 2026.
REPORT ON CORPORATE INCOME TAX INFORMATION
In compliance with chapter 10a of Directive 2013/34/EU (‘country-by-country reporting’)
This report on income tax information has been prepared by L1R HB Holdings Limited, the ultimate parent undertaking of the Holland & Barrett group, in respect of the financial year ended 30 September 2025, in accordance with Directive 2013/34/EU as amended by Directive (EU) 2021/2101.
EU Country-by-Country Report FY 2025