SumUp UK Tax Strategy

About SumUp

At SumUp, we set out with the mission to create a world where anyone is able to build a thriving business. Starting with easy to use and affordable card acceptance solutions, we have since expanded into supporting millions of businesses to start, run and grow their businesses through an ecosystem combining payments, software and business accounts.

The tax strategy outlined herein applies to all SumUp Group UK entities for the financial year ending 31 December 2025 and is fully compliant with our statutory obligation under paragraphs 16 (2) and 25 of Schedule 19, Finance Act 2016.

Rigorous compliance with legislation

We are committed to a low tax risk approach for all jurisdictions in which we operate, ensuring full compliance with both the letter and the spirit of all applicable tax laws and regulations. Our tax affairs are managed in a way that supports our broader commercial objectives and reflects our commitment to responsible corporate citizenship.

We maintain a zero-tolerance policy toward tax evasion and do not engage in artificial or aggressive tax arrangements. Any tax planning we undertake is aligned with genuine commercial activity and economic substance. We only seek to utilize tax incentives or reliefs where they are intended by law and in a manner consistent with guidance.

We are committed to maintaining an open, transparent, and cooperative relationship with HMRC. We engage proactively with HMRC to clarify uncertainties, disclose relevant information, and resolve any issues in a timely and constructive manner. We ensure that all of our tax filings and reporting obligations are completed promptly, provide correct and verifiable information, and are submitted within the applicable deadlines

Our tax strategy framework applies to all types of tax obligations we have in the UK, including but not limited to corporate income tax, withholding tax, VAT, payroll taxes, and social security contributions.

Governance and tax risk management

Robust tax governance and risk management are embedded within our internal control framework. Our in-house tax team is responsible for day-to-day tax compliance and risk monitoring, whereby our Global Head of Tax, reporting directly to the CFO is responsible for group tax strategy. Escalation procedures are in place to ensure proper governance and oversight, at each level of management across jurisdictions.

To ensure robust compliance, we apply a four-eye approach, whereby all tax submissions are prepared by one designated individual, and reviewed by a senior team member, with inputs from both accounting and controlling teams prior to submission, ensuring segregation of duties.

We maintain close relationships with operational teams, across the various business lines and supporting functions, to ensure that business processes are tax-compliant. Processes and controls have been implemented, and are regularly reviewed and updated to ensure that the tax team has reviewed and approved all relevant topics.

SumUp works with external consultants not only for the preparation of certain material filings, but also to ensure that we are up to date with legislative changes and anticipated amendments. In addition, where there is a certain level of complexity involved or a potential uncertainty regarding the application or interpretation of tax legislation, we obtain written advice from reputable third-party advisors to support our internal decisions.

Tax risk appetite

We adopt a low tax risk approach, prioritizing full compliance with both the letter and the spirit of tax laws and regulations in all jurisdictions where we operate, including the UK.

We maintain a zero-tolerance policy toward tax evasion and tax avoidance. To uphold this standard, we have implemented robust internal controls, which are actively monitored by our in-house tax team, reviewed by both internal and external auditors, and ultimately overseen by SumUp senior management.

Approach towards tax planning

Our primary focus is on executing our business strategy and commercial objectives. While we responsibly consider available tax incentives and fiscal efficiencies, these are strictly secondary and subordinate to our overarching commercial goals and genuine economic rationale.

We are committed to economic and fiscal integrity. Accordingly, we do not engage in transactions whose sole or dominant purpose is to obtain tax advantages, particularly where such actions are misaligned with our commercial objectives or lack a sound economic basis.