UK tax policy.

October 2023.


The Chief Financial Officer of the UK and Ireland is responsible for leading
the UK tax strategy as a board member.

This strategy has been approved by both the UK board of directors and
Randstad Global Tax department based in the Netherlands which is part of
the ultimate controlling party, Randstad NV.

This document is reviewed on an annual basis and any amendments
required will be made. This policy will remain in effect until further notice 


Randstad is the global leader in the HR services industry. We support
people and organizations in realizing their true potential by combining the
power of today’s technology with our passion for people. We call it Human
Forward. In 2022, we helped more than two million candidates find a
meaningful job with our 233,000 clients. Furthermore, we trained more
than 374,900 people. Randstad is active in 38 markets around the world
and has top-three positions in almost half of these. In 2022, Randstad had
on average 46,910 corporate employees and generated revenue of € 27.6
billion. Randstad was founded in 1960 and is headquartered in Diemen, the
Netherlands. Randstad N.V. is listed on the NYSE Euronext. For more
information, see

Our values and business principles

Randstad is the global leader in the HR services industry. Our core values
were established in the company’s early days. They continue to serve as a
compass for everyone at Randstad, to guide our behaviour and to shape
our culture.

One of these core values is ‘the simultaneous promotion of all interests’:
our stakeholders are at the heart of our strategy, we serve their interests
and create lasting value for all of them – our clients, our candidates, our
employees and other stakeholders including governments, while our
business must benefit society as a whole.

For the financial year ended 31 December 2023. The publication of this
strategy statement is regarded as satisfying the statutory obligation under
paragraphs 19(2) and 22(2), Schedule 19, Finance Act 2016 for the UK
companies within the Randstad UK Group.

Overall tax strategy

The overall UK tax strategy is as follows:

  • Pay the proper amounts of taxes in the countries where value is
  • Meet all legal requirements and make all appropriate returns and
    payments in a timely manner
  • Utilise all available tax credits and reliefs available to the UK
    companies in line with the company’s strategy
  • Consider the tax implications of all major business decisions
  • Ensure adequate tax controls are in place for all UK companies as
    part of the Randstad Global Key Control Framework
  • Ensure there is Board accountability and oversight for all tax matters,
  • Ensure no detrimental reputation impact to the Randstad brand due
    to tax decisions and actions

Key control framework

Our key company risks are governed by our Key Control Framework of
which Tax Controls form a part. The effectiveness of these controls is

assessed twice per year for all UK & Ireland based companies and the
controls are subject to regular internal audits.

The purpose of the Tax controls within the Key Control framework is to
ensure that the Randstad group is in control of all of its tax compliance
obligations and does not incur any unexpected material tax charges.

Risk management

We operate in many markets within the UK including construction,
education, financial services, business solutions and student support. Our
risk appetite is aligned with our strategic priorities and its elements include:

  • Taking a zero tolerance approach to breaches of our core values and
    business principles, and;
  • Protecting and maintaining our reputation and the image of our

Our main risks are those that threaten the in-control position of the Group.
The current risks have been categorised into four areas: strategic,
operational, financial & reporting and compliance.

Reputation is considered a strategic risk, financial & reporting risks include
the valuation of deferred tax assets and goodwill, while tax compliance is
listed as a compliance risk.

The company has a Tax Team who is responsible for all tax compliance and
reports directly into the Chief Financial Officer. There is constant
communication between the finance department, board members and
wider operational business on all tax matters. The business has a positive
view towards tax and all parties understand the importance of meeting the
company’s obligations.

Tax planning

Any action related to planning our tax position must be consistent with the
normal course of business and in line with our overall country and global
group strategy. As a consequence, business profits are generated where
Randstad has legal and economical ownership of assets and where the
relevant people manage such assets.

We ensure that the appropriate portion of taxable income is reported in UK
based Randstad entities where value is created within the normal course of
business in proportion with the functions performed, assets deployed and
risks assumed.

All our intercompany transfer pricing and policies are based on the “arm's-
length principle”, which means those that would apply as if they were
agreed between unrelated parties.

Randstad will seek external tax advice on a case by case basis to assist
with tax scenarios if we do not have the expertise in-house to comfortably
resolve them. Furthermore, we may use external tax advice to review our
in-house decisions and act as an independent check if there is uncertainty.

Attitude towards risk and tax planning

Randstad views tax compliance as extremely important and key to
managing tax risk. The UK board does not pursue any aggressive tax
planning arrangements and tax forms part of the business decision making
process. Our relationships with both key advisors and HMRC help us to
remain compliant and fully understand tax changes that might affect the
business in the future. The Randstad Global Tax department also works
very closely with the UK companies to ensure the actions taken by the UK
fit within the global tax strategy.

Total tax contribution

We are a sizable tax payer based in the UK and therefore from that
financial perspective an important contributor to society. Our fiscal footprint
comprises e.g. of payroll taxes, social security contributions, apprenticeship
levy, value added taxes and corporation taxes.

Grievance mechanism

Randstad has a misconduct reporting procedure in place, which enables
our stakeholders to report any suspicion of wrongdoing via a secure phone
line or website.

Working with HMRC

Transparency and trust are embedded in our business principles and
corporate culture, thus play an important role in the way we engage with
HMRC. As part of that engagement, Randstad actively seeks a collaborative
dialogue with HMRC.

We aim to ensure timely tax compliance including meeting all relevant filing
and payment deadlines for all company taxes. If any significant uncertainty
was to arise concerning tax matters, we will engage with HMRC directly to
ensure the law is interpreted correctly.

Any changes to business strategy or approach which might impact
company taxes in the future are fully disclosed and communicated to HMRC
for review and comment. Our aim would be to obtain any early agreements
on any disputed matters that might arise in the future with HMRC to avoid
any uncertainty which might have an impact on the UK operation.

Randstad works very closely with our HMRC Customer Compliance Manager
(CCM) with regular direct contact taking place between them and the Chief

Financial Officer and the intention is for this to continue indefinitely.
Randstad has previously contributed to HMRC consultations that impact our
business directly and will continue to do so in the future as required.

This way of working also follows from the global tax policy set by our
ultimate controlling parent company, Randstad nv, that is part of the so
called “enhanced relationship program” of the Dutch tax authorities, which
is based on mutual trust and transparency.

Global tax policy

More information on the Randstad global tax policy can be found on
the Randstad corporate website.